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Specific recovery skills were necessary in this case as receivership was deemed not to be preferred route.

 

Objectives / actions:

 

• Initial physical securitisation of property including dealing with all aspects of a previously fully-operating business, preparing property for sale with vacant possession
• Carry out analysis to determine best exit strategy, including possible planning consent for residential conversion (14 flats)
• Advising on Planning and Section 106 Agreement costs
• Valuation and marketing of property for disposal

 

Outcomes:

 

• SHW took on co-ordination of all activities regarding asset management, insurance and other compliance issues
• Commissioned two comprehensive RICS Red Book valuations
• Advising on marketing agents - property now for sale by private treaty

 

Recoveries & Restructuring Partner Stephen Ray said: “It is highly satisfying to take this hotel from closure through to the verge of a brand new lease of life, either as new residential stock or a new guest house / hotel.”

 

Contact:
Stephen Ray

sray@shw.co.uk

020 7046 6182