Moorfields Property Solutions team successfully secure sale of properties totalling over £80m in December
The property sector has been one of the worst hit sectors in this double dip recession, but with the spotlight now firmly on London and the UK due to the Summer Games it looks like it is slowly making a recovery.
Over the last 6 months Moorfields Property Solutions team have acted on behalf of a number of lenders in the property sector, collectively owed some £800m, across a variety of properties including residential, commercial, licensed trade and development sites.
Last month the property solutions team successfully realised properties totalling over £80m with over 60% of the properties falling under the commercial or licensed trade sector. The team tackled a number of issues prior to sale including planning irregularities, rent arrears, undocumented tenancies, guarantee issues, building regulations and squatters.
Simon Thomas, Fixed Charge Receiver and Administrator at Moorfields Corporate Recovery said “Moorfields saw a number of portfolios suffer in 2012, from properties valued at £265m to small residential properties. With our success in Q4 2012 we are confident that the market will remain steady but challenging in the year ahead”
If you would like to discuss any property related issues please contact one of our property solutions team on 0207 186 1143.
For further enquiries please call Katie Smith on Tel: 0207 186 1143 or email ksmith@moorfieldscr.com
About Moorfields
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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