Merrie Gardens Limited (05727377): administration
- Status
- In administration
- Administration began
- 2026-01-16
- Administrators
- Andrew Mctear, Joanna Watts
- Administrators' firm
- Begbies Traynor
- Formerly
- Vectis 390 Limited
- Incorporated
- 2006-03-02
- Location
- Norwich
- Industry
- 68100 Buying and selling of own real estate
Why it went into administration
- Creditor pressure / legal action
- HMRC / tax arrears
- Rising costs / inflation
- Weather / natural events
- Energy costs
- Cash flow / liquidity pressure
- Property / lease costs
From the administrators' statement
The Company was incorporated on 2 March 2006 and was involved in property development, rentals and sales with its main objective being to develop the Merrie Gardens Business Park. The land owned had been developed at considerable cost with the building of a new roundabout, road access and the introduction of services onto the site.
It operated alongside associated companies Darlington House Hotels Limited ("DHH”) and Westover Park Estate Limited ("WPEL”) that are connected by way of common former director LWTS and shareholder BEPL, which ran the Prospect Business Centre in Cowes on the Isie of Wight.
The above companies were also connected with a further entity called Spithead Business Centre Limited which owned a freehold property in Sandown on the Isle of Wight containing approximately 50 units which it rented out on short and medium terms leases to various industrial and commercial tenants. This company faced various cashflow difficulties from 2011 onwards and administrators were appointed in February 2013. They continued to trade the business whilst attempting to sell the main asset of the company, this being the freehold property, on a going concern basis. Subsequently the company was placed into a company voluntary arrangement which took effect from 16 June 2014 however ultimately this failed and the company was once again placed into administration in 2019 and was then dissolved in 2022, The impact of these insolvency proceedings was felt by the Company, DHH, WPEL and BEPL however they were able to continue to trade, buying and developing property, although Income from rentals was significantly reduced. This was impacted even further following the forced sale of BEPL's Prospect Business Centre after a repayment demand was received from the mortgage provider.
Administrators' statement of proposals (2026-03-19) · Companies House register