SBM were instructed by a client to complete a feasibility study in respect of a proposed factory relocation near Mumbai.
The starting point for a relocation is always understanding the exit from the existing facility – in this case – a 4.5-acre freehold site within a gentrifying area near Mumbai.
In situations like this, the initial steps are:
- A Title report from a specialist solicitor. It is important to note that titles and ownerships can be hotly disputed.
- An Environmental report. It is worth mentioning the stigma of contamination is often far worse than the reality.
- Undertaking a Change of Use Exercise. As a reminder, a change of use can be a driver of value.
From our experience, wherever our clients are in the world, these three aspects – title, environment and use – are a foundation for value creation when it comes to transacting in unwanted freehold property.
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