Restructuring solutions case studies

Devising constructive solutions to resolve business recovery situations

Over three decades our Restructuring solutions team have gained significant experience delivering restructuring and recovery services with speed, creativity and reliability.

Clerkenwell – Mixed use, offices and retail, London

GVA was appointed as receivers of this 120,000 sq ft mixed use, part completed development. After numerous planning, legal and building issues were resolved the development completed successfully over a two-year period with a £40 million gross development value.

One King William Street - Offices, London

GVA was appointed by NAMA for receivership of this 90,615 sq ft prime City of London office building.The property had an annual rent £4 million and was let to Rothschild. The property was successfully marketed and sold.

Castle Place Shopping Centre, Trowbridge

A fully covered shopping centre with market hall, office space and a leisure centre totalling circa 70,000 sq ft.

GVA managed the asset, carrying out a rent review and re-gearing a new 15 year lease with the anchor tenant.

Centre Court – Offices, Birmingham

A multi let, 47,000 sq ft office building. A proportion of building controlled by the borrower’s serviced office business.

GVA worked with the borrower to enable joint marketing of the property and borrower’s business to maximise realisation and split of proceeds. GVA secured successful sale at a competitive level.

Core 27 - Sherwood Business Park, Nottingham

A modern 110,000 sq ft business park split across eight units producing over £620k gross per annum. GVA implemented an asset management programme including re-gearing leases and overseeing a letting campaign. We subsequently sold the income producing investment at a competitive level.

Shrewsbury’s three main shopping centres

GVA took LPA Receivership of 123 shops comprising 45% of the town centre of Shrewsbury.

Major tenants include M&S, Currys, Next, HMV, Boots and W.H. Smith. The shopping centre had a rental income £5.5 million per annum.

Merseyway Shopping Centre, Stockport

Major town centre scheme, 500,000 sq ft and over 100 retail units.

GVA held the property for the medium term whilst security and quality of income improved to enhance value and sale when market conditions finally improved. We improved the short term lease expiry profile and the vacancy rate to 18%.

The property as valued in excess of £100 million.

The Gateway - Residential development, Harwich

GVA took LPA Receivership of this 12 acre residential development site. We provided a multi-disciplinary team involving building, agency, planning, management and corporate recovery services.

Phase 1 involved building 34 units and selling them to occupiers. Phase 2 we were contracted to build, approximately 60 units and improve planning permission on the remaining phases of development.

Westville Portfolio - Mixed portfolio, National

GVA was appointed as Receivers of this £50 million mixed use commercial portfolio consisting of 15 properties in 15 different locations. The assets included 12 offices, 2 retail warehouses and a shopping centre. The portfolio totals 1,475,373 sq ft with 86 tenants generating £5,318,990 in rental income per annum. GVA provided strategic portfolio advice, asset management and sales execution with a portfolio value in the order of £40 million.

Wellesbourne Distribution Park, Midlands

A 752,334 sq ft multi let distribution park with an average unexpired term of three years. GVA was appointed as Receivers and disposed of the asset for circa £21 million.