In House portfolio available for £6m
A PORTFOLIO of 99 properties owned by failed landlord In House has gone on the market with a value of around £6m.
According to a creditors’ report filed in October the Warrington business was put into administration by its lender the Dunfermline Building Society after the value of its portfolio shrank to £7.7m against loans worth £13.4m.
In the document administrators from the accountancy firm Ernst & Young say the valuation was based on an estate of 118 properties.
Agent Sanderson Weatherall has been appointed to sell the properties, most of which are in the North West and held by various In House group companies.
Some 43 are owned by Compustar and have a guide price of £2.5m, 11 are owned by Avanti Properties with a price of £875,000, while 27 are owned by Berrymount Developments and have a value of £1.5m.
The houses, which are mainly terraced, are spread across Blackburn, Accrington, Rawtenstall, Ramsbottom, Bacup, St Helens, Platt Bridge, Wigan, Ashton-in-Makerfield, Rochdale, Bolton, Bury, Salford and Manchester. A further 18 properties in Stockton-on-Tees on Teesside, owned by Decaton, have a guide price of £1.3m.
Roy Tubman, partner in the Manchester office of Sanderson Weatherall, said the majority of the properties were let on assured shorthold tenancies. They are available either as a single lot or as six separate lots.
In House was controlled by Marcus Cassidy who was attempting to raise extra capital through a flotation on the Plus market at the time of the administration.
For more information about the estate go to: www.sandersonweatherall.com and use WebLink 4219.
