Betteshanger Sustainable Park Ltd (07687231): administration
- Status
- Administration ended
- Administration began
- 2019-12-02
- Administrators' firm
- BDO
- Formerly
- Bettershanger Sustainable Park Ltd; Betteshanger Sustainable Enterprise Centre and Country Park Ltd
- Incorporated
- 2011-06-29
- Location
- Maidstone
- Industry
- 72190 Other research and experimental development on natural sciences and engineering
From the administrators' statement
In April 2019, Mark Bayley of Real Estate Advisory Services Limited, was engaged by Hadlow College to assist with general estate matters and specifically the disposal of the Company, BCPL and the site. The initial strategy was to establish if a purchaser could be identified and undertake an accelerated disposal process as Hadlow College was coming under pressure to make committed payments towards the completion of a visitor centre on the BCPL property. Preparations were made to start marketing both the Company and BCPL for sale.
On 22 May 2019, Joint Education Administrators were appointed over Hadlow College and the services of Real Estate Advisory Services Limited were retained by the Joint Educational Administrators to sel) the shares in the Company and BCPL (and therefore the site) as a single transaction. Hadiow College, with the support of the Department of Education, acting by the Joint Education Administrators was prepared to continue to fund the operation of the site until 31 July 2019.
Further details of the marketing process are outlined in Attachment C. Quinn Estates Limited (“Quinn”) was the successful bidder. However, during the due diligence process Quinn indicated that its preference would be to purchase the business and assets of the Company as opposed to a share sale as a consequence of the onerous creditor position. As such, it was determined that a Pre-pack Administration would be sought.
Administrators' statement of proposals (2019-12-13) · Companies House register