Description

  1. 6How can we increase the value of property assets that have accumulated in the course of time?

A church property company had a problem: its portfolio had been growing for years, mainly by chance through donation and inheritance, without its having a strategic plan. So far, there had been little call for efficiency in a non-profit-making environment, but now diminishing income from church tax and increased costs necessitated an appraisal of liquidity and fixed asset reserves. An overall assessment of the properties and the development of a future strategy were called for within a short space of time.

It took Comes Real only eight weeks to complete this analysis – and it bore in mind thereby especially five factors:

  • Special consideration of the social duties and structure of a church authority
  • State of the properties and quality of their locations
  • Suitability of the present utilisation of the individual objects
  • Conceivable alternative use and its economic implication
  • Marketing potential of the various properties

After we had gathered all the information, we examined the portfolio as a whole, identified those properties that were necessary for the running of the “business” and those not, and listed property with the potential for development or an increase in value.

We conducted feasibility studies for the further development of those properties that showed a potential for an increase in value. In this way, our project managers converted, for example, a former men’s hostel (4,000 m²), situated in the town centre, into an attractive office block. We thereby provided the full gamut of services from the initial concept through the planning process and day-to-day running of the project up to the leasing of the completed building.

The objects deemed not necessary were prepared for sale, possible investors contacted and sales negociations brought to a successful conclusion.