Collectables Property Limited (06450591): administration
- Status
- Administration ended
- Administration began
- 2013-09-27
- Administrators
- Howard Smith, Jonathan Charles Marston
- Administrators' firm
- KPMG
- Incorporated
- 2007-12-11
- Location
- Newcastle upon Tyne
- Industry
- 68209 Other letting and operating of own or leased real estate
Why it went into administration
- Funding withdrawn / unable to refinance
From the administrators' statement
Collectables Property Limited was incorporated on 11 December 2007 and acquired certain of the business assets of Collectables Glass and China Limited on 31 March 2008, through a solvent restructuring of that company.
The Company holds the Group’s investment 1n two retail parks located at Portrack Lane, Stockton on Tees, with six retail units on each park The Company has secured borrowings as follows Bank of Scotland has first ranking security over Collectables Retail Park, and, Handelsbanken has first ranking security over Portrack Retail Park Bank of Scotland and Handelsbanken have second ranking security over Portrack Retail Park and Collectables Retail Park respectively
Collectables Retail Park consists of six units ranging in size from 3,000 to 14,400 sq ft The retail park is predommantly occupied by Collectables Retail Limited trading as Collectables, the Big Cane store, Bed Express and Mandale furniture The only third party tenant 1s Povey Carpets Limited
Administrators' statement of proposals (2013-11-27) · Companies House register