London & Westcountry Estates Limited (03526201): administration
- Status
- Administration ended
- Administration began
- 2012-03-27
- Administrators' firm
- EY
- Formerly
- London & West Country Estates Limited
- Incorporated
- 1998-03-12
- Location
- Bristol
- Industry
- 68209 Other letting and operating of own or leased real estate
Why it went into administration
- Rising interest rates
From the administrators' statement
The Company was incorporated in 1998 as a wholly owned subsidiary of The Hockin Dinamic Group Limited (formerly Hockin Dinamic Holdings Limited), a company owned and controlled by Michael and Diane Hockin The Company proceeded to purchase and manage a number of tenanted commercial business parks, principally in the Plymouth, Devon and Bridgwater, Somerset areas By the time of the Administration, the Company owned twenty five commercial business parks with circa 350 tenanted units, together with some additional development properties
The initial directors of the Company were Michael and Diane Hockin As the Company grew Its property portfolio, Matthew and James Hockin, were made directors in 2001 and took responsibility for the finance and operational roles respectively In 2008 they were joined by Annamarie Hockin, who held a non executive role Diane Hockin resigned as a director on 4 April 2011
Finance for the property acquisitions made by the Company has been obtained from a number of sources over the years but in more recent years was principally provided by RBS, in return for a fixed and floating charge debenture over the assets of the Company Additional finance for property acquisitions has been provided by Arbuthnott, Clydesdale and LBG (amongst others) in return for fixed charges over the property financed In early 2012, RBS transferred its outstanding debt from the Company to Isobel, together with the debenture.
Administrators' statement of proposals (2012-05-16) · Companies House register