Property

Property

There has been significant impact in the hotels and student accommodation space due to the COVID pandemic as hotels remained either closed or running at significantly reduced occupancy rates and students changed to online learning.

This has had a significant impact on the cashflows of property related businesses and with other factors including staff shortages, supplier price increases and reduced business travel and tourism, the sector is under pressure. A large number of these businesses have also taken government backed funding and so there is little room to manoeuvre in the cashflows. 

We have recently completed a sale of a 212 room hotel in Central London for £70m after a short trading period and are currently trading a 314 bed student accommodation in the North East whilst we seek a purchaser.  We have been appointed as Receivers of four flats in one South London building which are all let and for which we are seeking an investor to purchase these as a block.

We also have experience working alongside specialist operators and advising distressed property businesses and understand the nuances go with operating a property related business.  We work closely with our Tax and VAT teams to ensure the correct advice is provided and transactions complete smoothly.

In order to achieve the best outcomes for stakeholders in the property sector it is important to be able to rely on advisors with experience of how property businesses operate. If you would like to discuss any difficulties your business may be facing please contact Paul Davies or one of our team for an initial discussion.