The launch of a new property recovery specialist, Property Portfolio Rescue Ltd, will offer a lifeline to small businesses, buy to let landlords and developers who need to divest their property portfolio quickly to free up capital and keep their businesses afloat.
Last year saw a 245% increase in the number of small businesses in distress compared to 2007, as a result of lending restrictions imposed by banks and the general economic downturn. Rather than become victims of the credit crunch, many small businesses and landlords could rescue their business by selling off all or part of their residential property portfolio, enabling them to increase cash flow and avoid insolvency.
Small businesses often need to raise capital fast and would be unable to sell property on the open market in the current climate, thereby benefiting from Property Portfolio Rescue's commitment to exchange contracts within 48 hours, subject to due diligence.
Director Nick Hopkinson comments: "Many small businesses and landlords are facing huge difficulties in the current climate, and urgently need to increase their cash flow to avoid insolvency and its long lasting implications. Despite the latest Government bail out of the banks, borrowing will remain severely restricted for some time, and those thousands of businesses already in trouble need an immediate solution.
"We understand the problems facing small businesses and portfolio landlords, and are able to guide them in realising the cash value of their property assets quickly and discreetly. We have access to private funds and further lending, and will work with the property owners to negotiate a fast purchase of their portfolio, ideally before insolvency procedures begin."
Property Portfolio Rescue has pledged to continue any tenancy agreements in place within purchased portfolios and will seek to let vacant properties on new Assured Tenancy Agreements. The company takes a long term view of property ownership, aiming to become one of the UK's leading residential landlords.
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