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.
- 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.
- 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.