Edward Symmons appointed to sell assets of Fastline Ltd and Jarvis Rail Ltd
27 May 2010
Edward Symmons appointed to sell assets of Fastline Ltd and Jarvis Rail Ltd of the Jarvis GroupFollowing the appointment of Deloitte LLP as administrators of Fastline Ltd and Jarvis Rail Ltd of the Jarvis Group, Edward Symmons LLP has been instructed to sell the assets of the companies.
Jarvis Rail Ltd has recently been heavily involved in track renewal work and upgrades on both the London North Eastern and London North Western sections of the UK rail network. Fastline Ltd is a supplier and operator of "On Track Plant".
The sale of assets from of Fastline Ltd and Jarvis Rail Ltd will include:
- Over 100 major pieces of "On Track Plant", many of which have been rebuilt and updated over the last few years, and include plain line & switch & crossing tampers, dynamic track stabilisers, track relaying machines, cranes, ballast regulators etc. There is also a substantial stock of spare parts, full lists are available on request.
- The "Small Plant" division, encompassing over 18,000 items ranging from small hand tools and lighting to much larger rail mounted inspection trolleys etc. It is intended to hold a series of ‘Online' auction sales commencing in June to sell this considerable inventory of tools.
- Two class 56 locomotives, fully rebuilt in 2005 at a cost in excess of £700,000 each.
- The considerable stock employed in the Jarvis Rail Ltd subsidiary which conducted OHLE, S&T and rail renewals work.
Steve Mason MRICS, the partner managing the disposals, said: "It is rare for such a diverse range of high quality track plant to come to the market in such quantities. As a result we have already received considerable interest from around the world and are in the process of evaluating initial offers."
FASTLINE & JARVIS RAIL - ONLINE PLANT & TOOLS AUCTION
1st - 3rd June 2010 at Fastline Small Plant Depot, 1 Sandilands Street, Shettleston, Glasgow, G32 0HT.
Direct Link to bid: http://www.bidspotter.co.uk/forms/SaleDetails.php?eventid=281
