Fosse Way Court (Management) Limited (03441403): administration
- Status
- In administration
- Administration began
- 2025-06-24
- Administrators
- Gary Paul Shankland, Irvin Milton Cohen
- Administrators' firm
- Begbies Traynor
- Incorporated
- 1997-09-29
- Location
- London
- Industry
- 98000 Residents property management
Why it went into administration
- Funding withdrawn / unable to refinance
- Regulatory change or action
- Property / lease costs
From the administrators' statement
FTL was incorporated on 6 October 2011 as a residential property construction and development company, based in Bath. Its sole purpose was to undertake the redevelopment of The Waterfront, Foss Way Court, Esplanade, Seaton, EX12 2LP.
FCML holds the freehold interest in Fosse Way Court, and its acquisition was intended to support and enable the future redevelopment of the site.
Paul Mooney bought an apartment in Fosse Way Court in 1999 as a second home, but at this point had no intention of redeveloping the site. By 2012, significant building safety and maintenance issues were identified in the original 1960s blocks, with estimated remediation costs becoming unaffordable for the majority of leaseholders, many of whom were pensioners. A strategy was therefore proposed that a third block of flats would be constructed, linking the existing two structures, and the proceeds of the sale of those flats would be used to fund the refurbishment of the existing blocks. In December 2014, planning permission was granted for an infill development of 31 new apartments within the central courtyard of two existing high-rise blocks, increasing the total number of residential units to 61. Due to the extensive works required to bring the existing buildings into compliance to make them safe and to improve the external appearance of the existing buildings, no affordable housing contribution was required as part of the consent.
Administrators' statement of proposals (2025-08-18) · Companies House register