Surplus Property Solutions Limited was established in 2005 in direct response to a need for independent, directed mitigation advice and action in relation to surplus property leases.

Based in the West End of London and Glasgow we have an in-house team of property, financial and legal specialists. All of our key staff bring with them a wealth of corporate knowledge and understanding. To supplement our team we work closely with leading law firms, financial specialists and corporate real estate agents to provide the leading proposition in this niche marketplace.

Adam Foster, Director

Based in London, Adam is responsible for general management at SPS. Before starting SPS, Adam was a senior managing director in a number of corporate blue chip companies, including Olivetti SpA, Honeywell Inc and Caradon Plc (Novar plc). He ran UK building sector businesses such as Gent Fire and Trend Controls Limited, as well as the international divisions of Novar, which included full profit and loss and balance sheet responsibility for £200 million of business in 35 countries with 1900 staff. Adam holds a BA from Columbia University, New York and an MBA from INSEAD, France. Adam is fluent in French and Italian.

Frank Colhoun, Director

Frank is responsible for the financial management of SPS and all associated group companies and investments. Frank has held divisional CFO positions for large European and US listed businesses, including Lucent Technologies Inc, Novar plc, and Honeywell Inc., being based severally in New Jersey, London and Dusseldorf.

Frank holds an MBA from the School of Management at the University Of Edinburgh and is a qualified accountant.

What our counterparties and clients say:

"Above all SPS provide insight and understanding to the somewhat arcane world of leasehold liabilities and other property related issues as well as offering solutions that have enabled us to transfer risk on a cost effective basis. I would strongly recommend their services to anyone trying to deal with the complicated or difficult liabilities." James Scott, Managing Director, RBS Equity Finance.


"Reported (surplus) property provisions total £4 billion, which represents almost 9% of the total provision reported by (the top 200 companies in the FTSE Index). For those reporting a property provision this equates to 0.5% of turnover..." GVA Grimley, “The Impact of Property on UK Business”, Spring 2008

"This deal enables our Estates team to focus on our sizeable store portfolio where we are continually striving to deliver a great retail experience for our customers. We can now do this in the knowledge that the experts at SPS are aligned with our interest of driving redundant property costs out of our business." Charles McKendrick, Head of Asset Management, Morrisons Plc


"This transaction is the fourth major leasehold liability transfer in the past 18 months and demonstrates how the market is continuing to mature. We are now seeing unprecedented levels of activity and expect further portfolios from both public and private sector occupiers to come to the market during the course of this year." Kevin Vickers, Partner, Cushman & Wakefield

"The sale of Rentokil's surplus leasehold liabilities was an innovative transaction. Passing cash and some £35 million of long term liabilities over to a 3rd party was heavy with risk, and in these circumstances we were acutely aware that success could only be judged over the medium term. The project is all about delivering hard won surrenders, sub-lettings and dilapidation claims. The testament to the skills of SPS is that 90% of the liabilities have already been extinguished." Robert Bailey, In-sourced Property Director, Rentokil.


"This deal with SPS has, in a single transaction, enabled us to refocus our resources on our operational estate. We found SPS had exactly the right approach and experience to do the deal." Andrew Thexton-Pee, Senior Estates Surveyor, Carillion Plc