Distressed Asset Recovery
Since 2008, the property and construction landscape in Ireland has changed dramatically. The appointment of Receivers over property assets is commonplace. The assets include partially completed developments, vacant buildings as well as completed developments with performing rent rolls.
Scott Murphy can provide advice and technical input to assist the Receiver in reaching their short and long term goals which could include short term sale, demolition, full or phased completion to bring the assets to market. From experience, we understand that each case is different and the decision on how best to proceed should only be taken following proper technical, legal and property agency input. Scott Murphy can provide a suite of technical due diligence, consultancy and project services, which include the following:
- Liaison with insurance risk assessors and formation of site security plan
- Initial high level review and project evaluation
- Condition survey and building defect analysis
- Statutory compliance review - Planning, Building Regulations, Fire safety, H&S etc.
- Formation of a recovery plan
- Incumbent project team audits
- Appointment of project team and Project Management of completion works
- Independent Monitoring of completion or remedial works (Where original team are re-appointed)
- Statutory applications
- Certification of compliance
- Applications to local authority for taking in charge
- Hand-over management
