Manchester Exchange Quay Centre Limited (02942424): administration
- Status
- Administration ended
- Administration began
- 2012-06-15
- Administrators
- Anne Clare O'Keefe, Simon Jonathan Appell, Alastair Paul Beveridge
- Administrators' firm
- AlixPartners
- Formerly
- Regus (Manchester) Limited
- Incorporated
- 1994-06-24
- Location
- Manchester
- Industry
- 7032
Why it went into administration
- Property / lease costs
- Funding withdrawn / unable to refinance
From the administrators' statement
The Company is part of a larger group of property companies who are owned by Regus Plc (the Group).
The Company holds one commercial lease relating to a property located at 6th Floor, Building 8, Exchange Quay, Manchester, M5 3EJ (the Property). The lease 1s for prime office space which is licensed to clients on a fully furnished and serviced basis, with rental terms ranging from hourly to longer term licences.
The Company’s operations are sub-contracted to Regus Management (UK) Limited (RMUK) under a full service agreement. Services provided by RMUK include coordinating various services from the landlord, paying rents and associated property expenses, marketing for and securing tenants, providing maintenance services to occupants, billing and collection of rent and service charges. Amounts collected by RMUK from occupants are paid to the Company net of reimbursement of expenses and monthly management fees.
Administrators' statement of proposals (2012-07-18) · Companies House register