Norwood SE26

In the current climate it is perhaps no surprise that we are undertaking an increasing amount of corporate recovery work on behalf of Banks, Receivers and Administrators. The former Gipsy Queen Public House and an adjacent warehouse were acquired by a speculative investment and development company with a view to securing planning permission for residential redevelopment. Following the purchase, however, no application was ever submitted and the company was ultimately entered into administration. Appointed by the administrators, PricewaterhouseCoopers, we set about arranging a sale of the entire freehold. Occupying the majority of a prime island site in the middle of the West Norwood ‘triangle’, the property was thought to suit a variety of uses despite being presented in poor order following occupation by squatters. Our versatile marketing campaign involved inviting offers for the pub and warehouse either as a whole or as separate lots, and also either subject to planning permission or on an unconditional basis. Several offers were received and the property was ultimately sold to local building contractors H. A. Marks. The Marks Group intends to refurbish the former pub to house their offices, and will eventually relocate from their existing headquarters in Anerley. The Acorn Group is able to offer a comprehensive range of corporate recovery and asset management services. Please contact our offices for further information.

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Posted By Acorn Commercial on 1st May, 2009

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