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05 May 2021 | Pubs

Strategic Portfolio Advisory Services

Supporting you through changing market conditions and beyond

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How We Can Support You

An overview of the services we can provide
 

Market Knowledge

  • Articulation of key COVID 19 related trading challenges impacting operators
  • Macro market analysis of key operational drivers, funding and regulatory factors
  • COVID 19 impact on performance metrics and factors influencing the transition back to normalised trading
  • Understanding market liquidity trends before and since the impact COVID 19 using internal transactional data
 

Consultancy & Valuation

  • Portfolio reviews including indicative pricing, alternative use assessments, capex prioritisation and other assessments to unlock value
  • Operational reviews including options analysis, scenario analysis and strategy formulation
  • Performance reviews to reflect the impact of COVID 19 and stabilized trade post recovery
  • Lease advisory and re gear negotiations
  • Desktop or full valuations
 

Brokerage

  • Marketing advice, strategy formulation and realisation assessments
  • Non core package and large portfolio disposals
  • Disposals on a going concern or vacant possession basis
  • Investment sales, lease assignments and new lettings
  • Development agency and land sales
 

 

Market Conditions After COVID-19


Portfolio optimisation will be a key success driver to capitalise on post COVID market conditions



Reopening Environment

Revenue forecasts indicate strong market recovery, driven by pent-up demand. With several casualties in the sector, there will be significant latent demand as a result. Many of the trends arising before 2020 will continue, with more even emphasis on technology and consumer health

Key Considerations for Operators

Portfolio optimisation to limit exposure to the location demand uncertainty will be key, and positioning the business to capitalise on the recovering market will ensure balance sheets can recover.
 


 

Estate Review and Bolt-On Services

A fully customisable estate review that can be carried out within a short timeframe

  • With positive market conditions to capitalise on, as well as a reasonable level of continued uncertainty to consider, optimising your portfolio will be key to capitalising on the opportunities that will present themselves once the sector reopens, and to hedge your exposure to the negative impacts of a post-COVID world
  • At the core of our strategic advisory services is a review of your entire estate, either as part of an RICS Red Book valuation, or as a distinct exercise
  • We have a range of additional services that may be suitable for your requirements in order to capitalise on significant opportunities that may present themselves when the sector reopens, which we can easily customise at your discretion. These bolt-on services include strategic support, identifying and unlocking value, and many other areas, and examples of the services we can provide are shown on the right hand side of the page


 

Case Study: Davidson Kempner’s Acquisition of 370 pub investments from ei Group’s commercial property division

We were approached by six different parties to support them during the bidding process of ei Group’s commercial property disposal. We elected to partner with Davidson Kempner, and inspected 288 of the 370 assets in four days, providing commercial due diligence, pricing, and ad hoc detailed industry insight throughout the process, as well as identifying specific value creation opportunities. Our client’s bid of £348m was successful, with the transaction completing in March 2019.

 



Christie & Co Key Personnel

Our senior team consists of experienced specialists in the pubs sector
 

Stephen Owens – Managing Director

M: +44 7968 004 550
E: stephen.owens@christie.com


Neil Morgan – Senior Director

M: +44 7831 101 260
E: neil.morgan@christie.com

Simon Chaplin – Senior Director

M: +44 7764 241 351
E: simon.chaplin@christie.com

Noel Moffitt – Senior Director

M: +44 7713 061 594
E: noel.moffitt@christie.com
 

Helena Gleeson– Associate Director

M: +44 7764 241 290
E: helena.gleeson@christie.com

Sarah Hart – Associate Director

M: +44 7917 168 490
E: sarah.hart@christie.com
 

Conor Ray – Senior Consultant

M: +44 7702 809 572
E: conor.ray@christie.com