From the administrators' statement

3.1 As described in the directors’ history above the company’s inability to fill the student accommodation units, as was their obligation under the various leases, resulting in there being insufficient funds with which to meet the guaranteed rental payments being made to the investors.

3.2 The global COVID 19 pandemic has had a devastating effect on both international and UK based students attending University, particularly since March 2020.

3.3 Various individual and groups of investors instructed legal advisors to serve demand on the company for the outstanding rental income and ground rents due under the terms of the leases.

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DJP Property Limited (05282011)

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