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:
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.
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.
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.
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.
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.
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.
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
Have a question? Get in touch.