Chatsworth Schools is a growing portfolio, enabling outstanding futures for the children of today and tomorrow
Client
Chatsworth Schools
Location
London
As well as acquiring schools in developed markets around the world, Chatsworth aims to build new schools in rapidly developing areas. Our teams helped to identify cost efficiencies through sale and leaseback arrangements and optimisation of the site via a major school refurbishment project in London
The Village Prep School, Belsize Park and Hall School, Wimbledon are independent schools forming part of the Chatsworth Schools portfolio. We helped them to create cost efficiencies and additional value from their estates by advising on acquisition, and sale and leaseback, achieving an initial yield of 4.5% and 4.25% respectively, with a leaseback spanning 30 years and five-yearly rent reviews, compounded annually with a 2 to 3.5% collar and cap.
Following this success, we acted for Chatsworth on the acquisition and simultaneous sale and leaseback of two more of their schools, with a combined value of c. £11.4m.
Leaseback at Hall School was achieved for the main site, ‘The Downs’, and the 6.3-acre Oberon sports fields and pavilion. The school, however, required major redevelopment to amalgamate the junior and senior schools in to optimise the site’s capacity and maximise use of the pavilion, so we brought in our project managers.
Having overseen the planning application for the works, which are within a conservation area, the project will now see bespoke modular units installed on this urban, logistically challenging site - modernising the school and adding value to the estate.
