From the administrators' statement

The Company was incorporated on 24 February 2005 to develop the land at Canal Street, Nottingham, now known as the Southreef Development (“the Development”). The Development was originally planned to compnise of 234 residential apartments and 54,000 sq ft of commercial space, supported by a two-storey underground basement car park

Following the economic difficulties encountered in during 2007, the plans for the Development were altered The revised plans comprised of 199 residential apartments and a 76 bedroom hotel (the “Tower”) with the remainder of the Development remaining 1n accordance with the orginal plans.

The Development has encountered a number of setbacks, including the insolvency of its main design and build contractor, Thomas Fish & Sons Limited (“Thomas Fish”) and a

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Southreef Properties Limited (05375135)

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