Residential Development in London

Moorfields were appointed as Administrators over a residential development site in Caroline Street, Tower Hamlets, London.

The site measured 0.26 acres and had planning consent for 53 private apartments, representing a significant development opportunity in a prime London location. Financial pressures and market conditions required professional oversight to manage the site, protect asset value, and explore options for development or sale.

Objectives

• Stabilise the site and development plans to preserve planning value
• Maximise recoveries for secured and unsecured creditors through a structured sale or development solution
• Protect the planning consent and other regulatory approvals
• Manage stakeholders, including lenders, contractors, and potential buyers
• Ensure a controlled Administration process to minimise risk and maintain value

Moorfields’ Actions

• Assumed control of the site and ongoing development plans, ensuring compliance with planning conditions
• Conducted a valuation and assessment of the site and its development potential
• Explored sale and development options, including marketing to residential developers and investors
• Liaised with contractors, lenders, and stakeholders to maintain confidence and transparency
• Developed a structured exit plan to realise value from the asset efficiently

Results

• The site was stabilised, protecting the planning consent for 53 apartments
• The development potential was preserved, maintaining attractiveness to potential buyers or investors
• Stakeholders were managed professionally, ensuring transparency and confidence throughout the Administration
• The site was prepared for sale or continued development, maximising potential recoveries for creditors