News

5 March 2019

Contingency for market change – Recoveries & Restructuring

Change is in the air, and it is arguably more necessary than ever before to consider how Recoveries and Restructuring services can help in a challenging market. SHW have a highly experienced LPA receivership team covering all sectors, with a focus on both speed of recovery and cost efficiency, whilst addressing the issues of each individual case. This might include pre-appointment strategy advice or formally accepting an appointment as LPA receivers.



We have a core team of Registered Property Receivers supported by SHW’s various professional departments throughout our eight offices:

 

Examples of recent cases include:

 

  • Anston House, Brighton 37,000 sq ft derelict office building in 1.5 acre prime city centre site. Previously vacant for 23 years after failed planning applications. Sold for comprehensive residential redevelopment

 

  • Ghyll House Farm, Horsham – nine acre residential redevelopment site. Key issues included rights of way to resolve dilapidated barns and workshops historic industrial use, contamination and S.106 planning agreements. Sale completed to developers on an unconditional basis discharging borrower debt

 

  • Eight town houses, Surrey. Receiver’s decisive action resolved legal, management and practical completion works, including Rights of Way and Planning matters. Successful sale of all properties despite difficult marketing conditions - exceeded borrower debt

 

“SHW offer strong local representation and a good knowledge of local values. They totally understand our business and its need so we don't have to overly brief them on jobs; they have been there before and know what is required."

Leeds Building Society

 

SHW Recoveries Director James Neale said: “Whatever the reason is to appoint LPA receivers (drop in values where lenders are dangerously exposed, or a dispute has escalated necessitating a recovery) our approach is robust but mindful of the sensitivities surrounding both the lender and borrower. In our experience, the decision to involve LPA receivers in the long term generally proves to be the most cost efficient means of a recovery.”

 

James Neale

jneale@shw.co.uk

020 7389 1531


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