Case studies

Property valuation and recovery and restructuring case studies - BNP Paribas Real Estate UK  

Confidential client

Completing a complex recovery and exceeding client expectations on four sales
Appointed LPA Receivers on Project Omega, comprising four sites, for a major banking client. All four sites were sold within 12 months, met client expectations despite complications.

  • Location UK
  • Key figures Combined commercial floor space of over 600,000 sq ft
  • Contact Joe Pitt, +44 (0) 20 7338 4005

 

The results

  • To maximise recovery from four non-performing commercial property loans quickly. The assets ranged from vast London sites to smaller regional properties all at different stages of development and with their own complications.

The challenges

  • To maximise recovery from four non-performing commercial property loans quickly. The assets ranged from vast London sites to smaller regional properties all at different stages of development and with their own complications.

What we did

  • Successfully sold all four developments within one year of appointment. 
  • Secured ongoing warranty for works completed on Aldgate Tower site in London, also resolved complicated liability by negotiating a satisfactory settlement and negotiated a sale that met client expectations. 
  • Sold Redland House in Bristol to the only owner occupier active in the region within seven months of appointment. 
  • Employed an asset manager to progress site and obtained an improved resolution to grant planning consent for 754 residential units, 601 student accommodation units, 337 hotels rooms and 10,000m2 of commercial floor space at Goodman’s Field site in City of London resulting in a sale to a leading UK housebuilder. 
  • Engaged in house BNPPRE development consulting team to help obtain consent on Goodman’s Fields thereby adding value.
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