Artelia supports sale of 21-Hotel Landsec Portfolio

Artelia’s Building Surveying team is delighted to have provided technical support and due diligence services to Landsec for the successful disposal of its hotel portfolio which is let to AccorInvest. This significant transaction involved the sale of 21 properties across key cities including, London, Birmingham, Manchester and Edinburgh, to Ares Real Estate funds for £400m.

Our service included the provision of detailed Vendors surveys and technical due diligence on each site for input to the seller’s pack, which included evaluations of building fabric, mechanical and electrical systems (M&E), lifts, environmental phase 1 reports, 10-year capex forecasts and RAAC inspections.

Artelia were able to provide expert insight into the assets having provided asset management services on the portfolio for the last 7 years. This meant we were able to provide a deep and comprehensive analysis of the buildings past and future. The Vendors survey reports were comprehensive and provided information on condition, repairs, future capital expenditure, lease and warranty analysis to provide comfort for the purchasers.

We are proud that our surveying team’s expertise not only facilitated a key strategic move for Landsec, but also ensured that every stakeholder was well-informed and reduced unnecessary delays and negotiation with the purchaser.