Opal Metropolitan Limited (03648104): administration
- Status
- Administration ended
- Administration began
- 2013-03-12
- Administrators
- Thomas Andrew Jack, Alan Robert Bloom, Samuel James Woodward
- Administrators' firm
- EY
- Formerly
- Giration Limited
- Incorporated
- 1998-10-12
- Location
- Manchester
- Industry
- 68201 Renting and operating of Housing Association real estate
Why it went into administration
- Funding withdrawn / unable to refinance
- Rising interest rates
From the administrators' statement
The wider Opal Group (‘the Group’) ts the UK’s third largest developer and operator of student and professional accommodation, comprising approximately 20,000 beds across 49 properties
The Group was founded in 1982 and initially focussed on small scale student and private residential property In the late 1990's it expanded significantly, constructing, owning and managing large scale purpose built accommodation
The Group structure is summarised at Appendix A to this report The Group’s lending and operational structure ts complex, comprising 68 companies supported by a number of separate senior lenders / lending groups funded through a senes of property SPVs
Administrators' statement of proposals (2013-05-13) · Companies House register