Industrial Property Sale

A 5,000 sq ft long leasehold industrial property in North London that had previously been owner occupied by a motor related company that subsequently went in to Liquidation and defaulted on their debenture. 

The Receivers considered various options of maximising recovery of the loan and following a comprehensive private treaty marketing campaign, negotiated a sale to the Council who owned the freehold interest and were therefore in a position to pay significantly more than market value (145%) due to the marriage value potential.  Residual issues addressed included unpaid ground rent risking lease default, potential Retention of Title claims on items left in the premises and identification of asbestos materials in the 1970s building.

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