3 minute read
Partnerships with purpose and value
30 Apr 2024
If securing the best sites was easy, everyone would be doing it. The reality, as we all know, is that finding a site that matches up on location, price, planning status and programme is far from straightforward.
Increasingly I’m talking to people about the benefit of partnering and collaborating. I’m talking to operators – or people acting for operators – across all sectors, including retail, care, retirement living, self-storage and leisure, who want a particular site in a particular location but, quite understandably, don’t have the capital, skills or risk appetite to secure it on their own.
It may sound simplistic but the best ideas frequently are: where an operator is expert at running a business and a PropCo is expert at delivering real estate solutions.
So that’s the genesis for partnerships that work and partnerships with purpose. OpCos doing what they’re good at and us doing what we’re good at.
Where an operator can’t or doesn’t wish to take on the risk – and we all know that planning in the current system is regrettably a significant risk – Ashfield Land can and does step in. Within a partnership and deal structure of aligned interests, we can help to get it done.
It’s hugely motivating to be the solution provider and I enjoy this part of the job tremendously. It works for no one if a site gets stuck or an opportunity goes begging, much like Scotland’s 6 nations campaign. So rather than see that happen, we always suggest a conversation to explore a different way: the partnership way.
Partnerships are integral to any successful development in my opinion. At Ashfield Land, we’re always looking to work with best-in-class operators to unlock and deliver schemes that work for both parties.
Because of who we are and how we work, we can do that and can work with operators to be that ‘trusted partner’ to deliver a pipeline of sites in a deal that satisfies both parties. It’s a pragmatic solution to what can otherwise be a frustrating situation for an occupier unable to unlock opportunities. Our experience and track record has taught us there can be multiple ways to align interests and find common ground if you have the ability to be open-minded and entrepreneurial.
I’ve been part of Ashfield Land for a year and I am continually impressed by the creativity of our team when it comes to finding the right solution. It’s great to be able to work this way. It’s dynamic, interesting and it means you can always have a productive conversation with a potential partner because you know you have flexibility and options to address their needs whilst agreeing something mutually beneficial.
Unlike Finn Russell, I don’t have a magic wand and I’m not saying Ashfield Land can conjure up the perfect site for an operator’s needs every time – but it sure helps that we have plenty of tools in our box and plenty of flexibility when it comes to how to get a deal done.
If this resonates with you, do get in touch. We have capital to invest and are actively looking at the next tranche of sites and locations where we can partner with people to make something worthwhile happen.
Blair Goodfellow
Development Surveyor, MRICS
t: 020 7016 7900
m: 07766 391 944
e: bsg@ashfieldland.co.uk
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