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BrownfieldOur capabilities
ContentsAddressing the challenges of brownfield land 04
DTZ’s brownfield services 05
The team 10
Top 10 attributes of world class brownfield disposal programmes 11
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Introduction
The team’s philosophy is simple: we provide clear strategy which optimises the outcomes for owners of brownfield land. Where needed we combine this with practical delivery advice to ensure that the market is appropriately engaged. We have a relentless focus on viability.
Achieving best value is always important. We also understand that achieving the highest price may not be your sole aim. Receipts often need to be balanced against managing reputational risk, environmental liability and other corporate and stakeholder requirements.
In this document you will see that we have a wealth of experience in the strategy and disposal of brownfield properties internationally. We have the necessary skills, experience, market expertise and senior level resources to deliver successful outcomes for the most complex brownfield landholdings.
DTZ has advised on over 50,000 acres of brownfield land in the last five years
brownfield
(n.) Previously used land that is idle or underused where future redevelopment is affected by real or perceived site constraints
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Physical• Contamination• Ground stability• Dilapidated structures• Site services• Flood risk• Access• Heritage, archaeology, ecology• Neighbouring uses
Market Viability• Competing land supply• Blight• Timetable constraints• Non functioning market• Fragile socio-economics• Retained operations• Unviable massing, layout and
density• Infrastructure costs
Policy and Legal• Adverse planning policies • Planning obligations• Loss of employment• Poorly located for
sustainable development• Multiple stakeholders• Title restrictions• Historic grant provisions• Community opposition
Brownfield legacy constraints can impact materially on strategy and viability
DTZ addresses a range of business and real estate objectives for brownfield land
Will the market buy a portfolio of brownfield sites?
What public sector support can we expect?
Can we transfer all liabilities to a purchaser?
How should we prepare our brownfield site for sale?
Who should we select as a development partner?
How can we improve the redevelopment viability?
What is the best exit strategy for the site?
Should we sell now or invest in a planning consent?
How can we maximise sale proceeds from surplus sites?
Addressing the challenges of brownfield land
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DTZ’s brownfield servicesDTZ has four core brownfield services:
Brownfield portfolio strategiesDefines and accelerates the release of value from brownfield portfolios
Brownfield divestment strategiesOptimises the outcomes of exiting from surplus brownfield land
Brownfield viabilityAssesses viability and releases embedded value from brownfield land
Brownfield transactionsSecures development partners to deliver value and other defined outcomes
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Brownfield portfolio strategies
Portfolio Restructure5,000 properties 150,000 acres
Residential Joint Venture10+ properties
Strategic AdviserNational Housing and Regeneration Agency
Strategy5,000 properties150,000 acres
Portfolio Business Case96 properties£320 million
Portfolio ReviewReview of Network Rail, 2013, 2011, 2007, 2003 and 1999
Portfolio Review20 properties
Portfolio RestructureMulti national portfolio
StrategyNational Review
Portfolio Review/Sales3,500 properties
Strategy85 properties15,000 acres
StrategySir Roy McNulty: Rail Value for Money
The NHS Portfolio Transfer was a major milestone in joined-up government thinking. The transfer broke new ground and required a strong team performance between the Departments and DTZ as advisers.John Lewis, Executive Director HCA
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Brownfield divestment strategies
Strategy & SaleDunkettle Ireland
Strategy & SaleClifton Junction, Swinton45 acres
Strategy & SaleCutacre Colliery800 acres
Strategy & SaleRoyal Arsenal 60 acres London
Strategy & SaleSurplus Oil Terminal, Malta
Strategy & SaleNigg – Europe’s largest dry dock
Divestment StrategyLowestoft
Strategy & SalePfizer Karlsruhe
Strategy & SaleAEG Electrolux Nuremberg Germany
Strategy & SaleBeckton Gasworks
Divestment StrategyAluminium Plant255 acres
Strategy & SaleShell Haven1,500 acres
Divestment strategyLaajasalo FinlandSola Refinery Norway
Viability & Planning AdviceViability support to successful outline planning application for 650 dwellings on the site of former Selly Oak Hospital, Birmingham
Viability & Planning AdviceBringing forward circa 200 dwellings on the site of the former Bucknall Hospital, Stoke
Divestment StrategySaint Gobain, Derbyshire450 acres
Strategy & SalePas de Calais France
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Brownfield viability
Viability ReviewElephant and Castle £1.5bn
Viability ReviewThetford Urban Extension 5,000 homes
Financial MasterplanVosper Thorneycroft Shipyard
Viability ReviewSherford New Town 5,500 homes
Financial MasterplanLongbridge £1.0bn
Viability ReviewLondon 2012 Athletes’ village £1bn
Financial MasterplanRAF Staff College Bracknell
Viability ReviewEco Towns x15 nationwide
Viability ReviewDCLG s106 Mediation Panel
Financial MasterplanFormer Vesuvius Works, Nottinghamshire 40 acres
Financial MasterplanMarkham Vale Enterprise Zone 80 acresDerbyshire County Councli
Viability ReviewUrban Extension – Kent 5,000 homes
Financial MasterplanBritish Sugar Factory Suffolk
Financial MasterplanProject Alabama£500m
Viability ReviewChurchfields, Sailsbury95 acres
Viability ReviewFormer Cadbury’s Factory, Keynsham
Viability ReviewWeston Villages 5,800 homes
Financial MasterplanKings Cross Central£2.0bn
Financial review£500m Housing Kick Start Programme
Financial MasterplanSlough Trading Estate £1bn
Financial MasterplanBath Western Riverside
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Brownfield transactions
Portfolio Acquisition96 properties£320 million
Strategy & SaleCutacre Colliery800 acres
Developer SelectionGLA Development Partner Panel
Strategy & SaleFive surplus campuses75 acres
Strategy & SaleNigg – Europe’s largest dry dock
Development AgreementRoyal Arsenal 60 acres London
Corporate AgreementBath Western Riverside, 44 acres
Strategy & Development AgreementAgecroft Commerce Park900,000 sq ft created
Strategy & SaleLondon Gateway/Former Shell Haven 1,500 acres
Strategy & SaleCwm Coking Works South Wales
Strategy & SaleDunkettle Ireland
Options Analysis, Marketing & DisposalMalago House Bristol
Strategy, Procurement & DisposalDerwent Forest 1,100 acres
Strategy & SaleBeckton Gasworks
Development AgreementSouthall Gasworks
Portfolio restructure5,000 properties150,000 acres
Portfolio Sale20 properties
Strategy & Development AgreementPartington, 120 acres, 1m sq ft commercial and 55 acres residential
London Gateway is one of the most compelling things I’ve seen in recent years about Britain’s industrial renaissance – it’s an extaordinary investment that is going to be of huge benefit bringing about 12,000 direct and indirect jobs. David Cameron, House of Commons, 20 November 2013
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The team
DTZ has a senior team with a wealth of experience in delivering successful brownfield strategies and disposals.
Nick LambertSenior DirectorLondon
• Largest transfer of brownfield land by the UK public sector• Financial appraisal of London 2012 Olympic Village for ODA• Shell Plc on exit from one of Europe’s largest brownfield sites
Francis TrussAssociate DirectorLondon
• Bath Western Riverside, viability and delivery of flagship 2000 home scheme• London Borough of Newham, strategic site assessment• Elephant & Castle, viability modelling of major brownfield site
Karen CharlesDirector, LondonHead of Planning
• Pinewood Studios, masterplan for film and media industry• Trowbridge, factory site redevelopment for mixed use• Northstowe, promotion of former barracks for new town of 10,000 homes
Jonathan LambertDirectorBristol
• Churchfields Industrial Estate Salisbury, strategy• South Hams District Council, viability of Sherford New Community, Plymouth• National Grid, strategic and market advisor south west England
Stephen MilesDirectorLeeds
• Grove Hill Regeneration, 50 acre new neighbourhood • Cannon Park, 55 acre redevelopment on edge of Middlesbrough town centre• Gateshead Quays , commercial delivery advice
Jonathan TurnerDirectorBirmingham
• National framework advisor to DCLG on Enterprise Zones• Walsall Council and the HCA on Phoenix 10, a brownfield site with large scale
reclamation scheme• Birmingham City Council on major brownfield sites in the Enterprise Zone
Anthony O’KeefeDirectorManchester
• Logistics North, Bolton: 325 hectare site sale for Harworth Estates• Development partner selection for National Grid and HCA• Multiple site sales for leading manufacturing including Enersys, Federal Mogul
and Corning
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Top 10 attributes of world class brownfield disposal programmes
Does your portfolio square up?
Site closure outcomes aligned to, and optimised against, pre determined required outcomes - proceeds, socio economic legacy, environmental risk, organisational reputation, timetable
Comprehensive programme of vendor due diligence so all uncertainties are identified prior to marketing
Surplus sites relentlessly screened into structured disposal programme that reflects market capacity and appetite
Template sales documentation and key contract terms fit for each sale structure
Organisational speed, agility and commercial acumen to close multiple complex transactions
All sites screened for environmental risk with an unambiguous allocation of risk embedded in the sale process
Persuasive enterprise level market engagement which builds strong investor confidence and motivation to participate in a transparent pipeline of disposal opportunities
A flexible, coordinated disposal programme that consistently delivers enterprise level disposal targets regardless of changes in circumstances to individual sites, geographies or sectors
Consistent disposal processes - dedicated follow up to all enquiries, centrally held information packs, pre agreed negotiation parameters, mandatory HSE briefings prior to all site visits
Clear business plan assessment to determine the optimum disposal strategy
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Source: DTZ
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@DTZUK
For further information on DTZ’s brownfield capability please contact:
Nick LambertSenior Director, Head of Brownfield+44 (0)20 3296 3130 +44 (0)7767 890899 [email protected]
www.dtz.com
©DTZ D203 03/15