# Belem Developments Limited (08293107)

> Why UK company 08293107 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/08293107

- **Status:** Administration ended
- **Administration began:** 2020-07-31
- **Administrators:** Nicola Clark, Kerry Pearson
- **Administrators' firm:** Azets
- **Incorporated:** 2012-11-14
- **Location:** Manchester
- **Industry:** 41100 Development of building projects

## Why it went into administration

- Funding withdrawn / unable to refinance

## From the administrators' statement

The Company was incorporated on 14 November 2012 and operated as a property developer. It was initially funded by way of loans from its two shareholders Residential Regeneration Limited (66%) and Residential Regeneration (Il) Limited — In Compulsory Liquidation (34%)

The Company's primary asset is a freehold ten story apartment block known as Belem Tower situated off Sefton Park, Liverpool, L17 3DB (“Belem Tower / the Property”). The Company acquired Belem Tower on 7 January 2013 and at that time, the Property had been vacant for more than 10 years and was in a dilapidated condition. The Property was originally constructed in 1959. It comprises ten floors containing a total of 63 residential units.

The Company engaged Caspia Management Limited to undertake extensive renovation works - and in 2016 Floors 1 to 6 were completed and let to tenants under Assured Shorthold Tenancy Agreements. Floor 7 to 10 are partially completed and require final fixings before they can also be let. Eight units were sold between 2016 and 2018.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/08293107/filing-history/MzI3ODc2MzE5N2FkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/08293107

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.