News

14 August 2018

LPA receivership sale – Burton-on-Trent

The SHW Recoveries and Restructuring team have successfully sold Unit 319, Faulds Industrial Estate, in Tutbury, Burton-on-Trent.



Key Issues:

  • N Patel and S Ray appointed by Norwich and Peterborough Building Society as Joint LPA Receivers in May 2018
  • Vacant industrial unit with negative equity

 

Receivers’ actions:

Property security and insurance reviewed

  • SHW Receivers advised on strategy to manage and dispose of the asset
  • Sale completed to a cash purchaser in July 2018

 

SHW Partner Niral Patel said: “We were delighted to be appointed by Norwich and Peterborough in this long-standing challenging property and conclude a sale at market value within a short timescale, and look forward to building on our relationship with the lender.”

 

Contact:
Niral Patel

npatel@shw.co.uk

01293 441315


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