BrownfieldOur capabilities

ContentsAddressing the challenges of brownfield land 04

DTZ’s brownfield services 05

The team 10

Top 10 attributes of world class brownfield disposal programmes 11

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Introduction

The team’s philosophy is simple: we provide clear strategy which optimises the outcomes for owners of brownfield land. Where needed we combine this with practical delivery advice to ensure that the market is appropriately engaged. We have a relentless focus on viability.

Achieving best value is always important. We also understand that achieving the highest price may not be your sole aim. Receipts often need to be balanced against managing reputational risk, environmental liability and other corporate and stakeholder requirements.

In this document you will see that we have a wealth of experience in the strategy and disposal of brownfield properties internationally. We have the necessary skills, experience, market expertise and senior level resources to deliver successful outcomes for the most complex brownfield landholdings.

DTZ has advised on over 50,000 acres of brownfield land in the last five years

brownfield

(n.) Previously used land that is idle or underused where future redevelopment is affected by real or perceived site constraints

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Physical• Contamination• Ground stability• Dilapidated structures• Site services• Flood risk• Access• Heritage, archaeology, ecology• Neighbouring uses

Market Viability• Competing land supply• Blight• Timetable constraints• Non functioning market• Fragile socio-economics• Retained operations• Unviable massing, layout and

density• Infrastructure costs

Policy and Legal• Adverse planning policies • Planning obligations• Loss of employment• Poorly located for

sustainable development• Multiple stakeholders• Title restrictions• Historic grant provisions• Community opposition

Brownfield legacy constraints can impact materially on strategy and viability

DTZ addresses a range of business and real estate objectives for brownfield land

Will the market buy a portfolio of brownfield sites?

What public sector support can we expect?

Can we transfer all liabilities to a purchaser?

How should we prepare our brownfield site for sale?

Who should we select as a development partner?

How can we improve the redevelopment viability?

What is the best exit strategy for the site?

Should we sell now or invest in a planning consent?

How can we maximise sale proceeds from surplus sites?

Addressing the challenges of brownfield land

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DTZ’s brownfield servicesDTZ has four core brownfield services:

Brownfield portfolio strategiesDefines and accelerates the release of value from brownfield portfolios

Brownfield divestment strategiesOptimises the outcomes of exiting from surplus brownfield land

Brownfield viabilityAssesses viability and releases embedded value from brownfield land

Brownfield transactionsSecures development partners to deliver value and other defined outcomes

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Brownfield portfolio strategies

Portfolio Restructure5,000 properties 150,000 acres

Residential Joint Venture10+ properties

Strategic AdviserNational Housing and Regeneration Agency

Strategy5,000 properties150,000 acres

Portfolio Business Case96 properties£320 million

Portfolio ReviewReview of Network Rail, 2013, 2011, 2007, 2003 and 1999

Portfolio Review20 properties

Portfolio RestructureMulti national portfolio

StrategyNational Review

Portfolio Review/Sales3,500 properties

Strategy85 properties15,000 acres

StrategySir Roy McNulty: Rail Value for Money

The NHS Portfolio Transfer was a major milestone in joined-up government thinking. The transfer broke new ground and required a strong team performance between the Departments and DTZ as advisers.John Lewis, Executive Director HCA

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Brownfield divestment strategies

Strategy & SaleDunkettle Ireland

Strategy & SaleClifton Junction, Swinton45 acres

Strategy & SaleCutacre Colliery800 acres

Strategy & SaleRoyal Arsenal 60 acres London

Strategy & SaleSurplus Oil Terminal, Malta

Strategy & SaleNigg – Europe’s largest dry dock

Divestment StrategyLowestoft

Strategy & SalePfizer Karlsruhe

Strategy & SaleAEG Electrolux Nuremberg Germany

Strategy & SaleBeckton Gasworks

Divestment StrategyAluminium Plant255 acres

Strategy & SaleShell Haven1,500 acres

Divestment strategyLaajasalo FinlandSola Refinery Norway

Viability & Planning AdviceViability support to successful outline planning application for 650 dwellings on the site of former Selly Oak Hospital, Birmingham

Viability & Planning AdviceBringing forward circa 200 dwellings on the site of the former Bucknall Hospital, Stoke

Divestment StrategySaint Gobain, Derbyshire450 acres

Strategy & SalePas de Calais France

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Brownfield viability

Viability ReviewElephant and Castle £1.5bn

Viability ReviewThetford Urban Extension 5,000 homes

Financial MasterplanVosper Thorneycroft Shipyard

Viability ReviewSherford New Town 5,500 homes

Financial MasterplanLongbridge £1.0bn

Viability ReviewLondon 2012 Athletes’ village £1bn

Financial MasterplanRAF Staff College Bracknell

Viability ReviewEco Towns x15 nationwide

Viability ReviewDCLG s106 Mediation Panel

Financial MasterplanFormer Vesuvius Works, Nottinghamshire 40 acres

Financial MasterplanMarkham Vale Enterprise Zone 80 acresDerbyshire County Councli

Viability ReviewUrban Extension – Kent 5,000 homes

Financial MasterplanBritish Sugar Factory Suffolk

Financial MasterplanProject Alabama£500m

Viability ReviewChurchfields, Sailsbury95 acres

Viability ReviewFormer Cadbury’s Factory, Keynsham

Viability ReviewWeston Villages 5,800 homes

Financial MasterplanKings Cross Central£2.0bn

Financial review£500m Housing Kick Start Programme

Financial MasterplanSlough Trading Estate £1bn

Financial MasterplanBath Western Riverside

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Brownfield transactions

Portfolio Acquisition96 properties£320 million

Strategy & SaleCutacre Colliery800 acres

Developer SelectionGLA Development Partner Panel

Strategy & SaleFive surplus campuses75 acres

Strategy & SaleNigg – Europe’s largest dry dock

Development AgreementRoyal Arsenal 60 acres London

Corporate AgreementBath Western Riverside, 44 acres

Strategy & Development AgreementAgecroft Commerce Park900,000 sq ft created

Strategy & SaleLondon Gateway/Former Shell Haven 1,500 acres

Strategy & SaleCwm Coking Works South Wales

Strategy & SaleDunkettle Ireland

Options Analysis, Marketing & DisposalMalago House Bristol

Strategy, Procurement & DisposalDerwent Forest 1,100 acres

Strategy & SaleBeckton Gasworks

Development AgreementSouthall Gasworks

Portfolio restructure5,000 properties150,000 acres

Portfolio Sale20 properties

Strategy & Development AgreementPartington, 120 acres, 1m sq ft commercial and 55 acres residential

London Gateway is one of the most compelling things I’ve seen in recent years about Britain’s industrial renaissance – it’s an extaordinary investment that is going to be of huge benefit bringing about 12,000 direct and indirect jobs. David Cameron, House of Commons, 20 November 2013

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The team

DTZ has a senior team with a wealth of experience in delivering successful brownfield strategies and disposals.

Nick LambertSenior DirectorLondon

• Largest transfer of brownfield land by the UK public sector• Financial appraisal of London 2012 Olympic Village for ODA• Shell Plc on exit from one of Europe’s largest brownfield sites

Francis TrussAssociate DirectorLondon

• Bath Western Riverside, viability and delivery of flagship 2000 home scheme• London Borough of Newham, strategic site assessment• Elephant & Castle, viability modelling of major brownfield site

Karen CharlesDirector, LondonHead of Planning

• Pinewood Studios, masterplan for film and media industry• Trowbridge, factory site redevelopment for mixed use• Northstowe, promotion of former barracks for new town of 10,000 homes

Jonathan LambertDirectorBristol

• Churchfields Industrial Estate Salisbury, strategy• South Hams District Council, viability of Sherford New Community, Plymouth• National Grid, strategic and market advisor south west England

Stephen MilesDirectorLeeds

• Grove Hill Regeneration, 50 acre new neighbourhood • Cannon Park, 55 acre redevelopment on edge of Middlesbrough town centre• Gateshead Quays , commercial delivery advice

Jonathan TurnerDirectorBirmingham

• National framework advisor to DCLG on Enterprise Zones• Walsall Council and the HCA on Phoenix 10, a brownfield site with large scale

reclamation scheme• Birmingham City Council on major brownfield sites in the Enterprise Zone

Anthony O’KeefeDirectorManchester

• Logistics North, Bolton: 325 hectare site sale for Harworth Estates• Development partner selection for National Grid and HCA• Multiple site sales for leading manufacturing including Enersys, Federal Mogul

and Corning

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Top 10 attributes of world class brownfield disposal programmes

Does your portfolio square up?

Site closure outcomes aligned to, and optimised against, pre determined required outcomes - proceeds, socio economic legacy, environmental risk, organisational reputation, timetable

Comprehensive programme of vendor due diligence so all uncertainties are identified prior to marketing

Surplus sites relentlessly screened into structured disposal programme that reflects market capacity and appetite

Template sales documentation and key contract terms fit for each sale structure

Organisational speed, agility and commercial acumen to close multiple complex transactions

All sites screened for environmental risk with an unambiguous allocation of risk embedded in the sale process

Persuasive enterprise level market engagement which builds strong investor confidence and motivation to participate in a transparent pipeline of disposal opportunities

A flexible, coordinated disposal programme that consistently delivers enterprise level disposal targets regardless of changes in circumstances to individual sites, geographies or sectors

Consistent disposal processes - dedicated follow up to all enquiries, centrally held information packs, pre agreed negotiation parameters, mandatory HSE briefings prior to all site visits

Clear business plan assessment to determine the optimum disposal strategy

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@DTZUK

For further information on DTZ’s brownfield capability please contact:

Nick LambertSenior Director, Head of Brownfield+44 (0)20 3296 3130 +44 (0)7767 890899 nick.lambert@dtz.com

www.dtz.com

©DTZ D203 03/15