Professional Services for Options Appraisal of Property in Urban Portfilio

Tender description

Consultancy Services to deliver detailed options appraisal for property at 39-41 George Street, Edinburgh on behalf of Crown Estate Scotland In order to ensure that Crown Estate Scotland realise the true potential value of George Street, an options appraisal is required to fully explore the best value to the business. Options include: 1. Sell the asset as a development opportunity (including if there are consents that could enhance value) 2. Review cosmetic refurbishment of the building based on the current uses, with a view to delivering a lettable asset for retention or sale 3. Full refurbishment of the building based on the current uses including mechanical, electrical and structural redesign/remediation, to category A standard maximise lettable area for retention or sale. 4. Investigate a change of use to hotel/tourism accommodation (hotel accommodation to be dictated for market need) or alternative use. A detailed options appraisal will provide a clear recommendation based on investment, risk, yield, market condition, asset value and a recommendation to sell or retain based on market conditions