Alpha Homes (Leicester) Limited (04594955): administration
- Status
- Administration ended
- Administration began
- 2021-12-23
- Administrators
- Paul Dounis, Gareth Harris
- Administrators' firm
- RSM
- Incorporated
- 2002-11-19
- Location
- Leeds
- Industry
- 68100 Buying and selling of own real estate
Why it went into administration
- Property / lease costs
- COVID-19
From the administrators' statement
Alpha Homes (Leicester) Limited (“the Company”) was incorporated on 19 November 2002. The Company appears to have been dormant from incorporation until 2014 at which time it commenced development of the site at 40 Fraser Road, Aberdeen. Its previous registered address was Valley House, Seventh Avenue, Team Valley Trading Estate, Gateshead, NE11 OJW.
The Company acquired the site at 40 Fraser Road, Aberdeen in 2013 which was developed into student accommodation with the development work completing in 2017. The property contains 30 units. With the Company retaining freehold ownership over 1 unit, while the other 29 units were sold to 22 individual investors. Following the sale, the investors entered into a lease with the Company of their respective units, which provided for rent to be paid to the investors at a pre-agreed rate. The Company continued to manage the site; however, we understand that no rent was ever paid to the investors.
The Company engaged Aberdeen Property Leasing Ltd (“APL”) to rent out and manage the student accommodation site. APL deduct a commission and the expenses incurred in managing the premises and remit the net rental income to the Company.
Administrators' statement of proposals (2022-02-24) · Companies House register