Private Island Resort – Seychelles

Client: Confidential

Location: Seychelles

Project Value: Confidential

Purpose: Technical due diligence

Project Background

Our investor client (the prospective purchaser) required us to undertake a technical due diligence survey of an established private luxury resort in the Seychelles to ensure that the resort (comprising multiple buildings and assets) to ensure the report was free from significant defects, to highlight any items that would affect value and the likely 10-year CAPEX lifecycle costs given the current condition.

Our Services

We were tasked with undertaking a full document review, detailed site inspection of the resort and all buildings and providing a detailed report highlighting any missing or inaccurate documentation, a full assessment of all building elements including MEP equipment and provide a detailed 10-year CAPEX lifecycle cost plan. The report would include giving condition ratings assessing the overall condition and listing all immediately required works.

The main elements of each building were assessed to arrive at the overall condition; including the roofs, external walls, floors, windows/doors, MEP equipment and internal finishes. We also provided detailed photographic reporting of highlighted issues found within each and calculated costs for each built asset based on the information noted above.

Client Benefits

The client was provided with a detailed report which enabled them to fully understand the asset under consideration, required remedial works and lifecycle CAPEX costs to assist with financial planning.

Understand any major defects that require to be rectified immediately or will decrease the assets value allowing potential revision of financial offer
The client will better understand the cost of ownership relating to likely CAPEX expenditure over the 10-year period
Assurance that the buildings are fit for purpose.
Understand any increased maintenance costs due to coastal location & higher-level resort standards.

Paul has 20 years of experience in valuation and consultancy services and has worked in leading international practices across the UAE, Oman, Europe and the UK.

His professional knowledge encompasses all property asset classes including large, complex master plan developments of mixed-use properties in office, retail, industrial, leisure, hospitality and residential sectors. Paul is professionally qualified to value minerals, waste and recycling properties as well as environmental land considerations.

Paul’s client portfolio includes international and local banks, lending institutions, developers, investors, owner occupiers as well as accountants, legal firms and insolvency practitioners. As joint head of the Commercial Valuation department he is responsible for valuations of all property types. He ensures quality assurance and provides timely RICS Red Book/International Valuation Standard Council (IVSC) standard reports.

Sarah-Jane joined Cavendish Maxwell in January 2020 as Head of Marketing and is responsible for the development of the marketing strategy and execution across the Middle East region. An energetic and results driven marketer, Sarah-Jane possesses a wealth of multi-channel marketing experience, within both B2B and B2C environments which she has gained over a 25 year career. Prior to joining Cavendish Maxwell, Sarah-Jane held senior marketing positions for major developers in Dubai including Emaar, Dubai Properties and Dubai Sports City. She also worked for IWG as the Regional Marketing Director responsible for the MEA and APAC regions. Before relocating to the UAE in 2005, Sarah-Jane held various management roles in public and private sector companies in the UK including ten years at Royal Mail and seven years at the Bank of America.

Sarah-Jane is a member of the Chartered Institute of Marketing and has a BA(Hons) Degree in Business and Marketing

P P Varghese leads Cavendish Maxwell’s strategy and consulting team. Varghese comes with over 17 years’ experience gained through advising government, private and institutional clients on single-use, mixed-use, standalone, and master planned projects. He has been exposed to consulting and operations functions with his expertise spanning development planning and strategy, cost-benefit analysis, operational reviews and monitoring, hotel operator search and negotiations, as well as arbitration support and dispute resolution for hotel management agreements.

In his previous role, Varghese served as Partner - Real Estate Strategy and Consulting at Knight Frank Middle East. There he was responsible for advising clients on real estate development strategy, optimising department processes to enhance revenue, and developing client acquisition and retention strategies.

At Cavendish Maxwell, Varghese will lead an expert team that provides development advisory, feasibility, portfolio analysis and real estate research for all real estate asset classes and will identify new growth opportunities for the business.

Varghese is a Master of Management in Hospitality, majoring in real estate investments and finance from the Cornell School of Hotel Administration, Cornell University, New York.