Estates Due Diligence Multi-Academy Trust Client
Acting on behalf of an existing Multi Academy Trust Client, Warneford Consulting was commissioned in early 2023, to undertake an estates due diligence service ahead of a potential merger.
Work Undertaken
Warneford Consulting began by undertaking a gap audit on each school across both trusts. The meaningful gaps informed the scope and depth of the surveys required at each individual school.
A detailed condition survey was also undertaken that included all main elements, fabric, and key components.
These were scored using the Department of Education’s (DfE) A-D condition and 1-4 priority ratings and included residual life forecasts.
Warneford Consulting provided accurate cost plans based on additional calculations such as annual inflation rates, contingencies, builders’ works, and professional fees.
The data was then qualified and quantified and used to provide options for scenario planning, citing a range of both existing funding streams such as the Condition Improvement Fund (CIF) and future ones, should the merger proceed using expected levels of annual School Condition Allocation (SCA).
Results
Warmeford Consulting was able to help the client understand their trust estate’s liabilities and how, under their existing funding options, they could seek to offset their large capital works.
Simultaneously, using the condition survey data for each school across the MAT they were potentially due to merge with, the client could see their individual and collective liabilities.
Whilst Warneford Consulting could not remove the risks and liabilities, by identifying and costing them, the client was shown short, medium, and long-term options for their mitigation and eventual removal.
They were also provided a detailed overview of existing assets, liabilities, risks, and available funding routes enabling them to optimise the capital programme options, for the best return on investment.
