Companies

Property Recycling

Overview

Property Recycling Group finds and buys land that has previously been developed but offers the potential for further development that will increase its value. These brownfield sites tend to be old industrial sites. The company may have to remediate and treat any land contamination, demolish existing buildings and plan new buildings. Property Recycling was formed by Paul Rackham, the former boss of Waste Recycling. It joined Aim in June 2005 when it raised £6.9m after expenses from a placing at 50p a share. Property Recycling was formed by Paul Rackham, the former boss of Waste Recycling. It joined Aim in June 2005 when it raised £6.9m after expenses from a placing at 50p a share. Property Recycling makes its money from gaining planning approval for a new development. Ideally, the company generates rents from existing tenants while it is waiting for planning permission because it can take a long time. It will normally look to sell the land once planning permission is gained although it might consider entering into an agreement with a developer or even hang on to part of the site.

Sector: Property

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