News

19 July 2017

Four acre land sale / recovery - but so much more besides

SHW Recoveries & Restructuring have successfully sold through our Agency Division a four-acre commercial development site on a business park in St Leonard's-on-Sea - but this was just part of a many-faceted instruction stretching over several years.



Key issues:
• Stephen Ray and Jon Dickman appointed on behalf of Allied Irish Bank Plc and Clipper Holdings II s.a.r.l. to provide asset management in Receivership
• The above named Receivers became Directors of the Management Company to help facilitate the sale process

Receiver's actions:
• Resolving Environment Agency requirements
• Drawing up new Service Charge arrangements
• Addressing estate road management and install security gates
• Examine proposals for wind turbine to be installed on part of the site
• Return VAT to HMRC

 

The land was marketed and sold for significantly more than the guide price. Subject to planning the land will be earmarked for new speculative commercial space.

Head of Restructuring & Recoveries Stephen Ray said: "Even after three decades as a chartered surveyor this project has been a very satisfying learning curve."

For expert LPA Receivership and much more:
Stephen Ray - sray@shw.co.uk / 01293 441331
Jon Dickman - jdickman@shw.co.uk / 020 8662 2708


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