HERA
HERA are a consultancy practice of Chartered Surveyors, Economic Consultants and Project Managers that specialise in unlocking, managing and delivering complex projects in the Heritage, Economic, Regeneration and Arts sectors.
We provide integrated regeneration and property development services to a growing portfolio of national and regional clients.
We have a long track record of successful bid-writing and business case preparation that demonstrate economically sustainable and viable projects representing best value to the public purse. We are uniquely placed at the interface between private and public sector investors, through our work representing both, and bring impartial and balanced expertise to otherwise difficult to deliver projects.
Regulated by RICS
Services
Project Appraisal / Expert Advice
HERA have appraised over 130 projects at an overall cost of £2bn involving £406m of public sector funding. Our experience in this area covers a wide range of clients from funding institutions and the public and private sector. We provide bespoke financial modelling expertise tailored to individual project needs and are leaders in our field.
We provide independent and impartial advice and detailed technical review and due diligence of projects seeking public sector investment.
Development Appraisal and Financial Viability Appraisal
We are experts in the provision of bespoke financial modelling tailored to suit each unique regeneration project. Our bespoke Financial Viability Model allows multiple scenario testing, using multiple funding streams on a cashflowed or Discounted Cash Flow basis that provides simple to understand value for money indicators – including economic output calculation, profitability, Loan to Value (LTV), Internal Rate and Return (IRR) and return on capital employed.
Our Viability Appraisal services often involves review of affordable housing, Community Infrastructure Level (CIL) or Section 106 (S106) contributions to residential schemes for both Local Authorities and residential developers.
Our models are of equal use to public or private sector investors – and tailored to each client, allowing clients to adapt themselves where required. They are dynamic and flexible and are the perfect tool for a workshop environment to allow rapid testing of options.
Options Analysis and Sensitivity Analysis
The ability to demonstrate the impact and range of delivery and development options is vital when preparing a business case for investment. Using our financial modelling expertise, HERA are able to test multiple scenarios to help identify the optimum development solution to meet multiple stakeholder requirements. This is of particular use in reinforcing the economic and financial case-making requirements of funders as our models generate economic output data (adjusted for additionality and optimism bias), value for money and profitability statistics that aid the decision-making process and support the identification of a preferred option.
Risk Analysis
Risk is evident at all stages of a project, from inception and development, through to delivery and operational phases. We act as the ‘eyes and ears’ for several public sector bodies to help identify, manage and mitigate their risk profile. We have developed our own Risk Modelling software to help manage this process, which provides a simplistic Red/Amber/Green and Top 10 risk reporting format from a series of structured inputs.
Funding Bids
We have secured £90m of funding to unlock £1.6bn of capital development projects. Bids have included awards from Homes England, Heritage Lottery Fund, ERDF, JESSICA and from Local Economic Partnerships.
Projects unlocked include over 10,000 residential dwellings, £121m of commercial and mixed-use regeneration projects and £3m of heritage projects.