Fixed Charge Receivers - Canute Road, Albert Road South

South Coast
Lender
Landlord/Investor
LPA Receivership
0.3
acres
Assessed other uses for the land
Appointed by Fixed Charge Receivers
80
Enquiries achieved
Carried out complex valuation of two properties
Produced marketing report
Marketed the buildings for sale, targeting leisure sector
Challenge

Our agency team was appointed by Fixed Charge Receivers to advise on the sale of two properties in Southampton. The aim of the sale was to achieve the best possible value for the properties, which were located at 24-32 Canute Road, and 157-159 Albert Road South.

How we helped

Carried out building surveys and valuation of complex asset

Produced extensive marketing report with recommendations for achieving best value

Assessed value of the freehold and long leasehold interest based on existing and potential use of the site

Multiple items left by previous occupier had to be factored into sales plan

Implemented marketing campaign targeting existing use, student residential accommodation, private rented sector, private sales, housing associations and hotels

Recommended hotel sector as a key target due to the proximity to Ocean Village, one the busiest ports in Europe

Implemented and managed a data room to coordinate more than 80 enquiries received

Liaised with solicitors and purchasers regarding their requirements

Assessed offers received to achieve best value and the completion of the sale

Results

Secured numerous offers from interested parties – both conditional and unconditional upon planning consent

A quick sale was achieved within 5 weeks

Sale was on an unconditional basis without complication, to a well-established hotel operator

Agreed with the buyer that the items left by the previous occupier could remain in-situ post completion

Get in touch

If you think you may need similar support to that described here, or you would simply want to have an informal chat with a member of our team to discuss your property needs, get in touch.

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