LSPIM Portfolio Technical Due Diligence
London & Scottish Property Investment Management
Technical Due Diligence
PMP was approached by our long-standing Client London & Scottish Property Investment Management (LSPIM) to carry out Technical Due Diligence on a large highly confidential portfolio acquisition involving 30 different locations throughout the UK.
The portfolio comprised a combination of commercial offices, industrial units, drive through restaurants, car showrooms and residential assets. The total area of the assets acquired was circa 1,760,000 square feet with a purchase price reported to be £236 million.
The transaction was complex due to the geographical spread of the assets and LSPIM required a team that could deliver to meet their tight timescales. It was a natural choice for LSPIM to appoint PMP as they had the capability of operating nationally to cover the demographic area of the portfolio .
The surveys were carried out by PMP’s Building Surveyors from our network of offices in Edinburgh, Glasgow, Manchester and Bristol with 15 of our experienced, Chartered and highly skilled Surveyors deployed to complete the inspections within 10 days of initial instruction.
The project was co-ordinated by our Executive Director, Stewart Rutherford who also provided Quality Assurance checks to ensure consistency and accuracy prior to the reports being issued to LSPIM. Stewart provided a single point of contact to the client team in order that any queries could be dealt with swiftly thereafter ensuring that the correct PMP team member provided the advice required.
The acquisition of this important portfolio for Regional REIT/LSPIM is a major milestone which adds scale and diversity to the company’s existing impressive portfolio.
Making a difference
In the process of surveying all 30 locations, PMP generated 2.1 tonnes of carbon, a significantly lower volume than it could have been as we were able to limit travel due to our office locations across the UK. In our commitment to addressing climate change, we have offset over 200% of this through planting 250 trees in our dedicated plot
What we delivered
- Technical Due Diligence
‘PMP proved their ability to service this large UK wide portfolio survey within very tight timescales. The Director ‘single point of contact’ coordination made it far more seamless for our team at LSPIM to work through the technical due diligence. All reporting was delivered on or before the agreed dates.’