Residential Development

A Grade II Listed former hostel with planning permission for a residential development of high end apartments with a total Gross Development Value of £10M.  After agreeing a strategy with the lender to build out the scheme rather than affect an immediate disposal, the Receivers led and coordinated the remainder of the multi-phased development over a 2 year period. 

Issues included ongoing negotiations with the listed building officer, dealing with outstanding sums owed to existing contractor, architect, and insurer, organising both sales and lettings of individual apartments and securing planning consent for the final phase of a further 9 apartments resulting in a significantly improved recovery.

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