Mixed-Use Office and Retail Property, Glasgow City Centre
Moorfields were appointed as Administrators over a mixed-use property in Glasgow City Centre, comprising 47,000 sq.ft of prime office space and 45,000 sq.ft of retail accommodation. The property had an estimated value of £20 million and bank debt of £15 million.
Objectives
- Protect and maximise the value of the mixed-use asset.
- Identify and implement a strategy to settle creditor claims in full.
- Secure new finance to enable business continuity and asset ownership retention.
Moorfields’ Actions
- Conducted a detailed review of the company’s asset and debt position.
- Implemented a structured asset realisation plan to optimise recoveries.
- Facilitated refinancing to generate sufficient funds to repay all creditors in full.
- Oversaw the stabilisation of trading operations and transition back to management control.
Results
- All creditors repaid in full, delivering an exceptional outcome in administration.
- New finance secured, ensuring the company’s long-term sustainability.
- Asset ownership successfully returned to the directors, enabling continued operations.
- Demonstrated Moorfields’ ability to deliver value preservation and business recovery in complex real estate administrations.
