Salisbury Living Portfolio

Singer Vielle were instructed by receivers to advise and sell a portfolio of properties in Birkenhead comprising four residential properties used to care for vulnerable adults, plus an administrative office.

Our in-depth involvement comprised:

• Recommending and advising in signing new leases to the housing association to secure the association’s long-term position at the properties;
• Marketing the portfolio in order to establish the market value;
• Agreeing a transaction with the care provider;
• Introducing a suitable bridging lender to enable the purchaser to proceed;
• Co-ordinating between all parties, including solicitors acting for buyer, seller, lender and tenant, to ensure the transaction concluded.

The result:

• The vulnerable adults occupation was secured;
• The housing association’s business secured;
• The care provider able to take ownership and re-invest into the properties to the benefit of the residents;
• The bank recovered their debt in full;
• The bridging lender secured a low risk opportunity
• The original borrower received the surplus proceeds from the sale.

A win for all.

“It was a key objective of the Receivers and the lender that, in addition to repaying the lender in full, the sale process caused minimal disruption and safeguarded the tenants.  Singer Vielle completely understood and were aligned with these objectives, with the outcome repaying the lender in full and also secured continuity for the vulnerable tenants” – Steven Sartin, Director, Moorfields

“Singer Vielle undertook great vigilance over time to understand the nature and workings of a very complex business and in tandem with the receivers, took great consideration to safeguard the vulnerable adults tenure within the properties. They were transparent over the roles within the sale and worked tirelessly to ensure all parties got the best possible outcome.” – Lee Smith, Managing Director, Salisbury Independent Living

“Following our appointment of LPA Receivers, Singer Vielle provided clear and practical support in managing a complex situation. They implemented new leases to secure stable income and used their broker function to facilitate the care provider’s purchase of the portfolio. This ensured our objectives were achieved, including full repayment, while maintaining continuity for the vulnerable tenants and supporting the operator’s business.” – Anton Bradley, Recoveries Manager, Redwood Bank

View Presentation which explained in great detail all aspects of the properties and income security.