Your objective sets the brief.
Every allocator has a different objective, horizon and tolerance for risk. We start with yours.
Four stages, each examined.
What happens at every step, and what you hold at the end of it.
A private conversation to establish the asset, your horizon, the capital involved and the question the decision turns on. The brief is agreed before any work begins, so the analysis answers what you need to know and nothing else.
Comparable transactions, rents, lease terms and tenant information, with supply, absorption and the character of the location. It is compiled for that asset. Nothing is borrowed from a template.
The price is set against comparable evidence, the income tested against the leases and the market, and the downside case examined. Every assumption is stated, and the ones the result depends on are identified.
A written assessment, presented to you: what the evidence shows, where the assumptions lie, and how the asset compares with the alternatives. Questions are answered directly.
What a finding looks like.
Every assessment follows the same structure, so it can be read quickly and checked line by line.
Finding one
Downside
What happens to the income if rents or vacancy move against the asset.
Finding two
Income
Net yield after costs, with the assumptions written beneath it.
Finding three
Entry basis
The asking price set against comparable transactions in the submarket.
Finding four
Assumptions
The few that the conclusion depends on, and how far each can move before it changes.
Candour, backed by evidence.
We tell you what the evidence shows, in plain language, including when it is not what you hoped to hear.
Considering a specific asset?
Tell us the asset and what you need to know.
Begin a Private Conversation