Industrial and Warehouse Units, Tyrone – Administration
Moorfields were appointed as Administrators over a portfolio of detached warehouse industrial units and office space in Tyrone, Northern Ireland. The estate, comprising 202,161 sq.ft of accommodation, had an estimated value of £8 million and faced financial challenges requiring professional administration.
Objectives
- Protect and preserve the value of the industrial portfolio.
- Manage the assets to maintain income and operational integrity.
- Implement a structured disposal strategy to maximise recoveries for creditors.
- Ensure tenant and stakeholder communications were effectively managed.
Moorfields’ Actions
- Took immediate control of the property portfolio and appointed managing agents.
- Undertook asset management, including lease reviews and tenant liaison.
- Developed and executed a sales strategy to market units individually and collectively.
- Coordinated due diligence and negotiated with potential purchasers to achieve optimal terms.
Results
- Assets successfully marketed and sold, maximising recoveries for creditors.
- Value preserved and enhanced through proactive management.
- Continuity maintained for existing tenants, protecting rental income during administration.
- Demonstrated effective administration of a complex industrial and office portfolio.
