Ashley House (Capital Projects) Ltd (07230400): administration
- Status
- Administration ended
- Administration began
- 2020-12-21
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2010-04-21
- Location
- Leeds
- Industry
- 41100 Development of building projects
Why it went into administration
- Property / lease costs
- Cash flow / liquidity pressure
From the administrators' statement
The Company was incorporated on 21 April 2010 and was headquartered in High Wycombe, Buckinghamshire. The Company was set up as subsidiary of Ashley House plc, one of the largest and most successful healthcare developers in the Country. It has always been a 100% owned subsidiary of Ashley House ple.
The Company was established to act as a developer in a number of healthcare construction projects, contracted with the client and then sub-contracting the construction to a third party, often via Ashley House plc. The Company operated this model from its inception until 2016.
The Company entered into a lease for expansion at one completed development with the intention to sub-let the space not used. Several years into the lease, the Company was able to sub-let the space however due to market conditions the rent receivable under the sub-lease was lower than that payable to the landlord. The Company recorded an onerous lease provision in respect of this lease in the year ended 30 April 2016.
Administrators' statement of proposals (2021-07-22) · Companies House register