Specialist Property Services and Sectors

Recoveries & Receivership (LPA)

Savills workout service is designed to mitigate loss and extract maximum value for bankers, other lenders and buyers of NPLs, special servicers and insolvency practitioners. We use our experience across all property types, to assess the property or portfolio of properties, and to consider the borrower’s skills and situation in order to advise on the most suitable and pragmatic way to proceed.

Our approach is complimentary to both a valuation and a report from a potential selling agent, as we address the issues likely to be faced moving through the process of gaining control, any interim initiatives and sale.

Depending on your needs, we can provide a single service or alternatively coordinate a range of different services:

LPA Receivership

Taking on a range of receiverships from portfolios to industrial units, complex properties such as shopping centres, all types of investment and development properties to residential houses and flats.

 

Strategy

Using a broad range of experience and skills, with existing loans and the underwriting at acquisition of NPLs, we assess the property or a portfolio of properties to consider the borrower’s skills and property situation in order to advise on the most suitable and pragmatic way to proceed.

 

Roles

Working with the borrower in a monitoring role (reporting to the lender), as principal in the case of LPA receiverships, or asset manager with a IP in place.  The Savills Receivership team may work with others from within Savills as well as other advisors and professionals to aid the process.

 

Asset Management

Managing properties to maximise income from tenants, reduce voids and irrecoverable costs, obtain or increase liquidity and appeal to the market, and so maximise realisation. Savills receivers will not pay empty rates.

 

Development Management

Re-positioning redundant or obsolete properties as new development opportunities, advising on uses to maximise market appeal, obtaining Permitted Development or planning permissions as appropriate and managing the site sales.

 

Transaction Management

Providing a central point of contact to deal with a range of property issues, enabling property management to be taken on, proper records put in place and commissioning vendor due diligence so transactions can be managed smoothly.

 

Disposals

The ultimate realisation may come from a property sale but this team also has a track record in alternative strategies with the most effective solution chosen on a case by case basis, at the right time

  • Property disposal; managing asset disposals through conventional marketing or by auction, negotiating from ‘one to one’ through to fully targeted marketing
  • A portfolio sale
  • Borrowers refinancing with new debt secured on the back of improved property values and good management information
  • Loan sales may be a more efficient way of transferring the economic interest and are preferred by some buyers.

 

 

Related Services

 

Can we help?

Have a question? Get in touch.

Key contacts

Julian Clarke FRICS, FNARA

Julian Clarke FRICS, FNARA

Director
Development & Regeneration Recoveries and Receivership

Savills Margaret Street

+44 (0) 20 7409 8743

+44 (0) 20 7409 8743

 

Kevin Mersh FRICS, FNARA

Kevin Mersh FRICS, FNARA

Director
Recoveries and Receivership

Savills Margaret Street

+44 (0) 20 7409 8184

+44 (0) 20 7409 8184

 
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