Chichester glasshouse firms re-launched to the market with option to repurpose land after no takers to buy them as going concern
The joint administrators of glasshouse salad growers Madestein (UK) Ltd and Fresh Willow Ltd have instructed international real estate advisors, Savills, and specialist asset advisory company, SIA Group to jointly handle a sale of the companies’ freehold site for £1.5 million.
The companies, which are based on the edge of Chichester, occupy a freehold site with 26,829 square metres of glasshouses incorporating a hydroponic system, cold storage, and office accommodation. In addition, there is an extensive array of plant and machinery available with the property, which is currently used to grow lettuce.
Steve Baluchi and Philip Armstrong of specialist business advisory firm FRP were appointed as joint administrators of the companies on 11 April 2023.
Baluchi said: “While every effort has been made to achieve a going concern sale, we are now extending the opportunity to include parties who may repurpose the site for alternative purposes. The re-marketing has already generated fresh interest and we are aiming to set a closing for bids to be submitted during the week commencing 9 October.”