commercial property lambert smith hampton

News - 05/05/2015

Lambert Smith Hampton to sell subsea plough following Reef Subsea UK administration

Asset consultants at Lambert Smith Hampton (LSH), formerly ES Group, have been appointed to sell a major subsea asset formerly operated by Reef Subsea UK Ltd (in Administration), a supplier of specialist subsea services to the oil and gas, and offshore wind industries.

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LSH has confirmed that an SMD Heavy Duty Inter Array Flexibles Plough is available for purchase. The asset can bury a power cable up to 2.4m in to the sea bed, half a kilometre under water. The plough was delivered in 2013 and completed a 20 month, £80m project on the Gwynt y Mor Offshore Wind Farm, owned by RWE Innogy and is one of the largest offshore farms in the World.

Commenting on the instruction, Keith Tatterton, Director at LSH’s Machinery & Business Assets team, said:

“This plough is unique in the World! This sale is a great opportunity to purchase a high quality piece of equipment at a reduced price and lead time. As such it represents a unique opportunity for the right buyer wishing to enter this exciting developing renewables market place.”