Moorfields Property Solutions Team successfully secure sale of properties totalling over £80 Million in December

The property sector has been one of the worst hit sectors in this double dip recession, but with the spotlight now firmly on London and the UK due to the Summer Games it looks like it is slowly making a recovery.

Over the last 6 months Moorfields Property Solutions team have acted on behalf of a number of lenders in the property sector, collectively owed some £800m, across a variety of properties including residential, commercial, licensed trade and development sites.

Last month the property solutions team successfully realised properties totalling over £80m with over 60% of the properties falling under the commercial or licensed trade sector. The team tackled a number of issues prior to sale including planning irregularities, rent arrears, undocumented tenancies, guarantee issues, building regulations and squatters.

Simon Thomas, Fixed Charge Receiver and Administrator at Moorfields Corporate Recovery said“Moorfields saw a number of portfolios suffer in 2012, from properties valued at £265m to small residential properties. With our success in Q4 2012 we are confident that the market will remain steady but challenging in the year ahead”