Member Article

Landwood Group holds successful sale of engineering group's assets

Landwood Group, the leading Northern-based chartered surveyors, auctioneers and asset managers, has held a highly successful sale of precision engineering machinery belonging to Glenborough Engineering of Leicester.

The sale followed the collapse of Glenborough Engineering into administration.

The equipment was used to produce specialist parts, principally for the aerospace and automotive industries, and included an impressive range of milling, grinding and testing machinery.

The majority of the equipment was sold across the UK and Europe, via an on-line auction, and realised several hundreds of thousands of pounds for Restart BTi, the Chesterfield-based Administrators of the company.

Ben Lynch, Director of Landwood Group, commented: “This was a highly successful sale, mainly as a result of the strong expertise Landwood have in engineering equipment, along with our in-depth marketing strategy.

“This strategy involved the use of a variety of media channels, both on and off-line, underpinned by our in-house database of interested parties. As a result, we saw machinery sold to buyers across the UK and mainland Europe,” said Mr Lynch.

Landwood Group are now marketing Glenborough Engineering’s redundant premises in Station Road, Glenfield, Leicester.

Mark Bailey, joint managing director of Landwood, commented: “Glenborough’s old premises are superbly located, four miles north west of Leicester and close to Junction 21A of the M1. Their three industrial buildings, which comprise 14,328 sq ft of freehold space with yard and car parking facilities, can be sub-divided.

“We are acting as joint agents with commercial property consultants Andrew and Ashwell over the sale of the 0.81 acre site and are expecting a good deal of interest in the premises. Offers are invited in the region of £630,000.

Glenborough Engineering, which had worked with high-quality clients like Toyota and the Lear Corporation, had been in business for over 55 years before slipping into administration earlier this year.

This was posted in Bdaily's Members' News section by Robert Beaumont .