Environ Freshford Mill Limited (09190191): administration
- Status
- Administration ended
- Administration began
- 2020-07-13
- Administrators
- Phillip Rodney Sykes, Damian Webb
- Administrators' firm
- RSM
- Formerly
- Mindlast Limited
- Incorporated
- 2014-08-28
- Location
- London
- Industry
- 41202 Construction of domestic buildings
Why it went into administration
- Rising costs / inflation
- Weather / natural events
- HMRC / tax arrears
- Loss-making contracts / project overruns
From the administrators' statement
The Company was incorporated in August 2014 to undertake development of residential properties on the former site of Freshford Mill, a former manufacturing site dating back to the late-17th Century, on the banks of the River Frome in Freshford, Somerset (“the Site”). The Company was incorporated alongside Freshford Mill Management Company Limited (“FMMC”) which was incorporated to hold the freehold for the Site.
The Site was acquired by FMMC from the former Administrators the Site’s former developers Ypres Rose Developments Limited. The Company’s former director Tony Dowse was initially dealing with the development of the Site, with current directors David Boden and Lawrence Pinkney assisting and providing fundraising. Wellesley Finance Plc (“Wellesley”) provided secured lending.
The Site itself was a challenging project, given the partially completed buildings on Site, dilapidated mill buildings, unresolved contamination issues and major flooding risks, together with difficult road access. The Company undertook necessary surveys and accounted for the costs of the development.
Administrators' statement of proposals (2019-09-12) · Companies House register