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The sale of the Rabeys Garage site has attracted some "really good interest" with the agent expecting to achieve a good price for it, to help the liquidators in dealing with the failed business's creditors.
Rabeys Commercial Vehicles went into voluntary liquidation last month, following the collapse of the wider Garenne Group and a number of its other interests.
Pictured: Rabey's Garage is up for sale for £3.6m+.
The joint liquidators that have been appointed to the Garenne Construction Group Ltd, Garenne Investments Ltd, Rabey's Garage Ltd, and Hurel Ltd (formerly R.G. Falla Ltd) are Geoff Jacobs and David Standish from Interpath Advisory and Linda Johnson and Leonard Gerber from KPMG Advisory.
They have been working to ascertain what funds remain in any of the businesses' accounts to repay creditors, with some of those owed money estimating the collapsed firms own a collective £7.5million, or more.
To try and recoup some money owed to creditors of Rabey's Garage and its parent company, the Garenne Group, the joint liquidators have put the Vale Castle Industrial Estate site up for sale.
Watts & Co is advertising it as a "rare opportunity" to purchase a "partly tenanted, high grade industrial site".
The space that is for sale is the land currently occupied by Rabey's Garage at the entrance to the Vale Castle Industrial Estate, and the area used by AFM immediately adjacent to the Rabey's site.
Pictured: AFM is behind what was Rabey's Garage.
Jo Watts said the area is already geared up for certain businesses to be able to move in and get working straight away, with the rest of the land already owned or leased by other construction and infrastructure related businesses.
"We've had some really good interest," she said, "but it's not surprising. This land can give you a good balance of income with space to run your own business."
The part of the site already used by AFM is under lease for more than a decade longer, with a rental income of £150,000 assured from next year. That Bordeaux House section is behind the existing Rabey's Garage site, meaning the remainder of the land for sale could offer a number of opportunities to a new owner.
Ms Watts said at 1.6 acres, with easy access for freight companies, and with development potential, "we're feeling confident we will achieve a good price".
While the land is for sale through a local agent, all of Rabey's stock and equipment was put up for auction by a UK firm last week.
The Joint Liquidators appointed (Nottingham headquartered) National auction house, John Pye & Sons Ltd, to sell off vehicles and assets from across the firm's two Channels Island branches - in Guernsey and Jersey.
Pictured: Vehicles owned by Rabeys were up for auction last week.
Trevor Palethorpe, Joint Head of John Pye Business & Property had said before the auction that a quick sale of assets can be achieved which is best for any creditors.
“We have the systems and knowledge in place to ensure we can sell the Rabeys’ stock with the highest level of efficiency through our online network. Our UK-wide footprint of close to 1,000,000 sq ft of sale space and a nationwide workforce of over 700 staff ensures we can handle the largest of insolvency cases.”
There appeared to be good interest in the sale last week with some of the vehicles attracting bids in the tens of thousands. The auction closed on Friday afternoon and John Pye has yet to confirm the total amount raised through the sale.
Pictured: Tools, equipment and vehicles owned by Rabeys were up for auction last week.
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