11:07 AM, 17th March 2021, About 3 years ago 25
I’m a small incorporated landlord with a portfolio of 40 individual real estate units, namely garages. I am now considering liquidation of the company with an obvious route being selling the garages on an auction as individual lots.
Having a naturally inquisitive mind I’m trying to invent other options of achieving the same result. I’m therefore wondering if there is a market to sell my company’s shares instead, effectively transferring the entire portfolio to the new owner avoiding many individual transactions and associated overhead costs.
If details are important, all my garages are: within M25; owned outright; freeholds; tenanted; in good state of repair. I don’t expect any of the individual sales to attract SDLT in the current climate, though some sites are suitable for redevelopment and will fetch more than just individual garages they are comprised of. My current turnover is just below £60,000 and in the past, I was consistently able to raise the rent in line with CPI.
So my questions are:
Is it possible to sell the company as a whole?
How would I value this sale?
Are there any other options I haven’t considered?
I’m not in an immediate hurry but would like to exit in cash within a year.