London Luton New Street Student Accommodation Limited (08773196): administration
- Status
- In administration
- Administration began
- 2021-01-15
- Administrators
- Asher Miller, Stephen Mark Katz
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2013-11-13
- Location
- London
- Industry
- 41100 Development of building projects
Why it went into administration
- Property / lease costs
- COVID-19
From the administrators' statement
The Company was incorporated on 13 November 2013 and its principal activity was that of the development of building projects, specifically to develop a Purpose Built Student Accommodation scheme located at 1-2 Spring Place and 4-16 Dumfries Street, Luton LU1 SAY. The completed development is now known as Opto Village.
The site was acquired in 2014. The deposit to purchase the land was derived from the directors’ consultancy firm, Experience Invest Limited (“EIL”), which provided the loan, with the quarterly stage payments for the balance of the land paid from the proceeds of the sale of units in the development.
Planning permission was granted on 17 April 2014 for the construction of a six storey block at 1-2 Spring Place and 4-16 Dumfries Street Luton LU1 SAY, to be occupied exclusively by students. The project was completed in two stages, with Phase One (blocks A and B) delivered in late 2017, and Phase Two (blocks C and D) achieving practical completion in late 2018. There are 560 individual rooms within the development, comprising 206 en-suite cluster bedrooms (with shared facilities within the cluster) and 354 self-contained studios.
Administrators' statement of proposals (2021-03-23) · Companies House register