Brakenall Properties Limited (04883834): administration
- Status
- Administration ended
- Administration began
- 2014-01-21
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2003-09-01
- Location
- Southend on Sea
- Industry
- 41202 Construction of domestic buildings
Why it went into administration
- Cash flow / liquidity pressure
From the administrators' statement
In May 2008 the company acquired a site at The Hall, Biddenden Road, Headcorn, Ashford, TN27 9JD for £1,260,000 with 75% of the purchase price being funded by The Roya! Bank of Scotland Pic (“the Bank") The company also developed and retained its interest in 6 flats at Rassamah’s House, 4 Venner Close, Redhill which are currently occupied under Assured Shorthold Tenancy Agreements We understand that the company has completed other projects, however we have not been provided details of these at this stage
The site held at Headcorn when purchased held planning permission to convert existing derelict buildings (which were formerly a care home) into 14 flats It was the company’s intention to obtain planning permission to demolish the existing buildings and construct 10 luxury houses, with an estimated sale price of £10,000,000 te £12,000,000 grass development value
-3-
Administrators' statement of proposals (2014-03-20) · Companies House register