Assessing the prospects of a business to help a developer unlock value
Ensors were engaged to provide a balanced view to a property developer who was seeking planning permission to redevelop the site of an existing business.
The long-established business had faced difficulties in recent times with falling profitability and was proving increasingly time-consuming. However, the developer wished to know whether the assets of the business had much greater potential if they were put to an alternative use to unlock value.
Ensors undertook a review of the business records and assessed its ongoing prospects to determine whether a business sale was possible. In particular, we helped to help clarify the position in relation to the Development Management Policy DM30 – Key Facilities, which outlines requirements for a change of use.
Faced with a failing business, the significant time needed to run it and the future spending needed to keep it compliant with regulations, our report was used to assist with a planning application for a change of use of the freehold property to permit residential properties. In this way, it enabled the owner to achieve its true value.
Ensors works widely in the construction sector and by helping property developers to secure planning permission. This proved an enjoyable assignment which helped to allow the retirement of the seller as well as the realisation of the developer’s goals.
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