Moorfields appointed LPA Receivers of large Business Park & Industrial Estate
Simon Thomas and Shelley Bullman of leading restructuring and insolvency firm, Moorfields Corporate Recovery LLP, were appointed LPA Receivers over a Milton Keynes Business Park and an Industrial Estate in Hemel Hempstead on 2nd July 2013.
Both sites were owned by Hilstone Property Investments Limited and consist of both tenanted and vacant units.
Woodlands Business Park is located in Milton Keynes just off the M1 so has great road and rail links between Birmingham and London. The park consists of 5 commercial units, Oak House, Birch House (10,121sq ft), Larch House (12,031 sq ft), Maple & Elm House (3678 sq ft). The site also has planning for two new office buildings.
Bourne End Industrial Estate is located 3 miles west of Hemel Hempstead in a valley within the Green Belt. The site consists of 65 industrial and warehouse units of approximately 118,604 sq ft.
Moorfields will continue to manage both sites whilst developing a long term strategy to increase capital value.
Simon Thomas, Joint Receiver said “The commercial and industrial markets have remained stagnant despite the residential market improving. The recession has meant many landlords have struggled to get tenants. Many commercial and industrial units remain vacant and those which are occupied have had to give significant tenant incentives. Landlords with vacant units are responsible for their business rates and service charge obligations, meaning many landlords are under extreme pressure which can be difficult to overcome.”
If you require any further information, please contact Moorfields Corporate Recovery by email to email@example.com or 0207 186 1144.
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Moorfields is a leading provider of Corporate Advisory, Restructuring and Insolvency Services.
Our specialist property team is dedicated to supporting secured lenders in handling some of the complex issues arising in property insolvency. Unlike many other firms our property team dedicate 100% of their time to property assignments so are constantly up to date with the latest developments and market related issues. Our expert knowledge and understanding of different types of property mean we can readily identify the most appropriate strategy. Our focus is to offer a dedicated service with straight forward options and realistic solutions to ensure we maximise the financial outcome for our clients.
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