Project Summary
At Graham + Sibbald our Hotel + Leisure team are known for having national coverage with local expertise. This is why many of the top hospitality and leisure groups across the UK continue to work with us, due to our position as one of the leaders in the fiercely competitive hotel and leisure industry.
We are proficient and cooperating with all of the sector's key figures, including tenants, landlords, lawyers, and pertinent public sector organisations. Our recommendations are thoroughly researched and practical.
In everything we do, we strive for value. For instance, we might offer advice that reduced expenses or increases profits, or we may negotiate and work on behalf of our clients to obtain the best leading and sale outcomes.
Why G+S
As one of the leading companies working in the hotel, leisure and licensed sector we can help you whatever your requirement.
We are retained by many of the UK's leading hospitality and leisure groups and have particular expertise in relation to the acquisition, management and disposal of property and businesses. We work with many clients to help them build dynamic and profitable property portfolios.
We add value every step of the way- whether it's using our negotiating skills to get the best possible deal, or looking for opportunities to maximise the value of your assets through strategic enhancement.
Approach
Graham + Sibbald conducted a preliminary examination of the property and a review of the company's financial records, offering our client advice based on our knowledge as bank valuers and agents. Having failed to sell in the previous agent's 12-month marketing campaign, we were awarded the instruction. Following initial guidance, we launched a marketing campaign that involved the creation of sale particulars, online marketing, press ad placement, and email distribution to our buyer database. When appropriate, we encourage viewings and followed up with due diligence data presented in an appropriate format for easy analysis by potential buyers. We introduced finance brokers to the potential buyer who we knew could secure financing. We are happy to report that one of these introductions was crucial to the buyer's ability to obtain financing.
Key Challenges
The whole marketing campaign was carried out during the uncertainty in the market due to coronavirus. Therefore, the pricing strategy was difficult to predict. Local lockdowns and changing restrictions and circumstances led to further challenges in arranging property viewings. We, therefore, recommended that the pricing be set on pre-Covid-19 strategies to see what the market's reaction would be.
In the latter part of the deal, and to properly ensure that the purchaser's funding was successful, we handled two bank valuations from different banks.
Statistics
- Email sent to buyers database- 587
- Particulars sent to new enquiries- 23
- Enquiries followed up- 23
- Second pack documents sent- 3
Results
We were delighted with the results of our marketing, which produced several strong and seriously interested parties within a short period of marketing.
We were able to conclude a sale at the higher end of our expected range all withing five months.
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