The UK’s largest independent commercial property consultant and the Midlands leading national property advisor, GVA, has successfully tendered for a five year contract with the Canal & River Trust.
Formed in July 2012, the Canal & River Trust is a charitable organisation that took over responsibility for looking after 2,000 miles of waterways across England and Wales from its predecessor – British Waterways.
While the Canal & River Trust cares for 200-year old bridges, towpaths, embankments, aqueducts, docks and reservoirs along the canal network, it also has a diverse property dowry of over 1,200 assets. The income generated from this dowry is crucial to funding day-to-day maintenance across the nation’s waterways and GVA will be providing regular valuation services for the portfolio.
Rebecca Millard, Director, GVA, said: “This portfolio incorporates industrial, commercial, residential, leisure and agricultural assets, all of which need to be valued on a regular basis. GVA has substantial experience in dealing with multi sector portfolios and with the support of our specialist teams such as GVA Leisure, we are able to understand the value and potential of any property and provide the appropriate tailored advice.
“Working alongside the Canal & River Trust, with its extensive investment and operational portfolio of property assets, is an exciting opportunity. I’m sure that throughout our appointment we will be able to make a significant contribution and add value to the charity’s continuing activities.”
The properties in the Canal & River Trust portfolio have been acquired through vesting or purchase over many years, with a number being of heritage and operational significance.
Brian Casey, Head of Estates, Canal & River Trust, said: “GVA is a strong company that has demonstrated a clear understanding of our needs and activities as a charity that is committed to improving and maintaining the waterways networks in England and Wales.
“Alongside the valuation services, we will also be looking to GVA to utilise its experience in the charity sector to provide us with on-going support and advice.”
The contract began on 1st April 2013, with the first asset valuation set to take place in September 2013.