Working with insolvency practitioners to secure a vacant property

A business going out of business is always a sad situation, and that’s especially true if it’s a care home. But, when insolvency takes hold and a business closes down, it’s important that the property is secured as quickly as possible, in order to keep trespassers out and ensure the building retains its market value.

This was the case of a property we were involved with in Kent. The operators of the care home had struggled to meet compliance requirements for the property and the limits on the number of residents in their care. This meant that the business was no longer financially viable.

“The care home ceased trading and the property was placed on the market,” said Clearway’s Key Account Director, Damien Frost who worked with the insolvency consultant on the project.

“But of course, the property needed to be secured in the interim. Left unattended vacant commercial properties are susceptible to vandalism, theft, weather damage and illegal occupation.”

Essential Services

We arranged for all the locks to be changed and the water and heating systems to be drained down. The electricity was isolated and a limited circuit made available to provide lighting for viewings.

Given that the property would probably be empty for up to a year, we needed to ensure all entrances were secured. The property was cleaned and cleared of all flammable waste and non-essential items in preparation for the forthcoming viewings.

As an additional vacant property security measure, concrete barriers were installed across the entrance to the site as they are a highly effective means of preventing unauthorised vehicle access to a site..

To protect the inside of the property against intruders and fire, a wireless alarm was installed with associated movement and smoke sensors. Our vacant property alarm system was monitored 24/7/365 by our NSI Gold accredited Alarm Receiving Centre and was supported by fortnightly inspections to check the property condition and the integrity of the security.

Rapid Response

As a result of regular inspections, a number of maintenance issues were identified and quickly rectified.

“The property was ultimately sold to a developer,” said Damien, “who were so impressed with the alarm system we had installed, they retained our security services throughout the redevelopment of the site.”