Goldrock Investments Limited (03393549): administration
- Status
- Administration ended
- Administration began
- 2012-01-31
- Administrators
- Matthew David Smith, Carlton Malcolm Siddle
- Administrators' firm
- Deloitte
- Formerly
- North Quay Yachts Limited
- Incorporated
- 1997-06-27
- Location
- London
- Industry
- 7011
From the administrators' statement
The Group had been operating as a property acquisition and management business since its Inception
Due to the economic climate, specifically the downturn in the real estate sector, the value of the assets within the Group had fallen significantly since 2009 and brought the Group’s loanto-value ratios below the agreed levels under its secured lending Specific detail on the Bank’s lending ts provided at section 42 3
Following this breach of the Bank’s lending requirements, the Bank engaged Deloitte to consider the options available to it in terms of realising the maximum value from the Group’s assets against Its exposure As part of this options review, JLL were instructed to prepare a portfolio review of the properties tn the Group over which the Bank held security In Apnt 2011, JLL estimated that the portfolio had a total value in the order of £20 8m Subsequently a formal valuation by JLL in November 2011 valued the portfolio at £18 8m, the decline reflecting a continuing deterioration in the commercial property market
Administrators' statement of proposals (2012-04-03) · Companies House register