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Knightsbridge Apartments - Property Management
 
Knightsbridge Apartments - Property Management

Knightsbridge Apartments - Property Management

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Achieved Vacant Possession Within 3 Months & Secured Highest Price on SaleRichard Roe

CHALLENGE

Our client had a super prime residential portfolio in the heart of Knightsbridge with tenants and owner occupied units.

With a bank debt of c. £30m, there were complex tenancy issues that were suppressing vacant possession values and a high-profile litigious borrower with diplomatic immunity.

SOLUTION

  • Eddisons advised that there would be a high level of demand for the portfolio from both international investors and owner occupiers.
  • Our recommended strategy was to obtain vacant possession of the entire portfolio to secure the highest price possible on sale.
  • We underwent complex multiple legal actions to gain vacant possession through various negotiated settlements.
  • We marketed the property through a high-end residential estate agency.

RESULTS

  • Eddisons achieved vacant possession within three months.
  • Our private treaty marketing and sale process case triggered intense interest in the market with competitive bidding leading to a private treaty sale in excess of £32m.
  • We achieved a full debt recovery of capital, interest and all costs associated for the Lending Principal and a substantial surplus for other secured creditors.

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