It has been predicted by business-recovery experts that numbers of insolvencies in the commercial-property market will dramatically increase in 2009.
Begbies Traynor has predicted that 1,600 British property companies could go under this year alone in the onset of the recession.
It has been reported that numerous landlords have asked their shareholders to raise funds, including Land Securities and Hammerson.
Begbies Traynor has identified 304 UK property companies at severe risk of going into administration due to crippling financial difficulties, using its Red Flag early-warning system.
The figure is a 65% jump from 185 companies with escalating problems in the third quarter of 2008.
Nick Hood at Begbies Traynor, says: We're seeing a build-up of problems as the real economy in which tenants operate continues to unravel. The only upside has been the fall in interest costs. However, this offers little relief to landlords dealing with escalating tenant defaults and unprecedented difficulty in raising or preserving business funding.
So there we have it! If you are looking for a business to buy, and reckon you can get your hands on the properties cheaply, remember that once the business has gone into administration the properties will be sold by auction.
A parcel delivery firm based in the North West had fallen into administration and ceased trading, with administrators now seeking to sell the company’s assets, including its fleet of vehicles and leasehold property. An auction of the vehicle fleet...
Prime coastal development opportunity with full planning permission is available for sale. Total site area approx. 0.88 acres (0.36 hectares). Full Planning Permission for 19 apartments across two blocks with basement parking. The deadline for off...
This vibrant and rapidly growing online business specialises in British craft beer gift hampers, tapping into both D2C and B2B marketplaces, making it an ideal investment for those looking to capitalise on the thriving gift industry. With a streamlin...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.