Kier Group plc is a UK construction, services and property group active in building and civil engineering, support services, public and private housebuilding and land development.
Kier wished to sell Kier Living, their private house building arm, as part of a wider restructuring and rationalising of their business.
Kier Living was openly marketed. Terra Firma, the UK private equity business owned by Guy Hands, emerged as one of the leading bidders.
In order to support their final bidding process, Terra Firma engaged Savills to carry out real estate due diligence across the portfolio of sites. This focussed on an estimate of Gross Development Value (GDV) and sales rates on each sites, as well as identifying new opportunities to accelerate sales through the introduction of Build to Rent. Finally, a review of each site identified any technical or legal constraints that had to be taken into account.
The Savills team included the National Development Consultancy team as well as local development teams in each of Kier Living’s operating regions. Our development consultancy teams are all leaders in their markets, with high quality data, market knowledge and resources ready to deploy.
Our strong national network of offices and joined-up working culture allowed us to fulfil the scope of works and deliver high quality outputs within the tight timeframes required. Kier Living was bought for c. £110 million by Terra Firma, and will be rebranded as Tilda Homes.
