Working with the Department for Education we were asked to review the property portfolio including non-core assets and to create a realisations strategy to enable debt to be repaid to the DoE.
It quickly became apparent that any disposal could not take place without going through an insolvency process. We worked with the joint administrators of the first education insolvency in the UK.
We subsequently ran a tender disposal process and sold the property thereby securing the importance of the asset to the local community.
We also reviewed wider elements of the property portfolio and provided strategic advice on the termination of tenancies, structures of ownership, consideration on legal charges and reviewing construction contracts.