A married couple have decided that they would like to separate and go their own individual ways. It’s an amicable position and they are considering the options to divide the matrimonial assets. The main asset is a 1930’s detached 5 bedroom house set in 2 acres of garden on a street leading into a prosperous regional town in the Home Counties.
Local agents value the house at between £750,000 and £775,000. After settling the outstanding mortgage and other accrued debts and liabilities, this leaves clear equity of circa £300,000, not enough money when divided in half to give either of the couple a comfortable fresh start.
What can success do to assist this couple?
Providing a discreet and caring approach to this sensitive situation is the key to helping. Looking at the plot it is clear that there is the potential to exploit the land for redevelopment, but what sort of development would be acceptable to the local planning authority and other local stakeholders? The house is located a ten minute walk from the local shops and other amenities, the idea soon takes shape. The house should be demolished to make way for a block of 18 apartments, with underground parking and communal gardens thus the forming of a gated community for over 55’s. The value of their plot has increased to £1.4 million, leaving more equity for the couple to share, no agents fees, no legal fees and a stress free disposal of the main matrimonial asset. Success!
