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A multi-site manufacturing company had entered administration and the charge holders had appointed LPA Receivers to handle the sale of the two freehold properties.
At the point of appointment there was very little information available about either of the sites and it wasn’t clear if they were secure or insurance compliant. Moorcroft Vacant Property Management were asked to assist.
We quickly attended both sites to inspect each property and produce one of our Day 1 reports which set out the insurance compliance and security issues along with photos of the issues and general condition of the sites and buildings.
One of the sites was in an established industrial location and was relatively secure. There were though a number of chemicals still stored on site and the fire alarm wasn’t operational and was in fault status.
The other site was in a rural location and had gates which were unsecure and dangerous open water storage pits. In addition there were a large amount of chemicals stored on site and numerous full LPG gas tanks.
We circulated these reports and issues to the Insolvency Practitioner, lawyers and agents.
The first property had someone keen to purchase so our focus was on preparing the site for sale. We immediately secured the site by changing locks and placing temporary monitored alarms in the building and put in place bi-weekly void property inspections so we could meet insurance requirements. We also arranged for the fire alarm to be inspected and recommissioned so the property could comply with the insurer’s requirements.
In terms of the chemicals in place on the site, we found chemical clearance companies and obtained quotes for the chemicals to be removed and safely disposed of. We then managed this process with the appointed removal company and ensured that the site was given a general tidy up which allowed the property sale to proceed.
This site required significant managing and attention to make it secure, insurance compliant and ready for sale. We immediately secured the gates, installed monitored alarms in the buildings and placed locks and warning signs near the open water pits to protect against any accidents and claims against the LPA Receivers.
We then arranged for the chemicals to be tested so we could identify the contents of the containers and a quote could be obtained for the removal. We liaised with LPG suppliers to have the various tanks flared, vented and removed from site to minimise the risk of fire.
We managed the 6 week chemical clearance ensuring the site was left clean and tidy and free from chemicals and waste and once this was complete, we placed concrete blocks across the gates to prevent illegal occupation of the site until such a time that the property was sold.
We ensured that both sites were cleared of hazardous chemicals and flammable gas and that they were kept secure during the sale process.
We managed all activity and liaised with the LPA Receiver, Agents and various parties to ensure a central point of contact where people could obtain the information they needed.
Both sites were sold and the LPA Receiver was delighted with our assistance
For more information or to discuss how Moorcroft can help you manage your Vacant Property, please contact:
Frank Langman—07519 655 699
Carl Gledhill—07767 806 361