Begbies Traynor Group has appointed two leading property professionals to launch a dedicated team in Scotland following a dramatic increase in demand for property advice in business restructuring and insolvency situations.
John MacLean has joined the firm from the property and banking sectors. A qualified accountant, he has specialised in property for his whole career that includes roles with CBRE, Cala Group, Morrison Developments, Clydesdale Bank and most recently Bank of Scotland.
Paul Aylmer who will work alongside John is a graduate in Estate Management from Napier University, Edinburgh who joins from GVA Grimley. He became a chartered surveyor in 2009 and has worked in their valuation and corporate recovery team for two years dealing primarily with distressed property assets.
The property specialists will assist the existing teams across the Group in Scotland, particularly the insolvency and restructuring divisions of the Group.
Alistair Dickson, partner at BTG Restructuring in Scotland said: “The new property team gives us the ability to advise clients quickly and in confidence on distressed property situations, and also to be well equipped to help realise the most value possible from assets.
“Many of the cases we are seeing since the collapse of the property sector and the reduced liquidity in the lending markets post 2008 have involved property as a major aspect. We now have a very experienced team that will work closely with their insolvency and restructuring colleagues,” he added.
The property team will work across the firm’s offices in Aberdeen, Dundee, Glasgow and Edinburgh, and have already undertaken work in the residential, commercial and industrial markets.
With the likelihood of future interest rate rises, and inevitable pressure on businesses to meet repayments in the more turbulent market conditions since the economic crisis, industry experts expect that property sector, and businesses with significant debt against property assets will see tough times for some years to come.
“Sometimes the value of property assets can unlock ways to avoid insolvency, but there are often time pressures in distressed instances, and only experts in impaired assets and funding can drive these proposals, hence our desire to have expertise on demand every day,” added Alistair Dickson.
Ken joined the Glasgow office of Begbies Traynor in 2003, before overseeing the firm's expansion into further offices in Edinburgh, Dundee, Aberdeen and Belfast. He previously worked at KPMG, Ernst & Young and PricewaterhouseCoopers in Scotland. He has a broad range of experience in Corporate Rescue and Recovery, as well as in turnaround and restructuring, corporate and personal insolvency, investigations and IBRs.
Specialisms: Licensed trade, haulage, property investment/development, construction, agriculture engineering/manufacturing.