# Equity Real Estate (Sigma) Limited (09453607)

> Why UK company 09453607 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/09453607

- **Status:** Administration ended
- **Administration began:** 2019-08-12
- **Administrators' firm:** Mazars
- **Incorporated:** 2015-02-23
- **Location:** London
- **Industry:** 68100 Buying and selling of own real estate

## Why it went into administration

- Cash flow / liquidity pressure
- Rising interest rates

## From the administrators' statement

The Company was incorporated in February 2015 as an SPV in order to develop a property at 4-4b Reddown Road, Coulsdon, Surrey, CRS 1AX (“the Property”).

The Property was purchased in April 2016 for £1,260,000, with funding provided by Aldermore Bank Plc who were granted a fixed charge over the Property.

In December 2018, when the development of the 12 apartments was close to completion, the debt was then re-financed by way of a 12 month bridging loan from Interbay Funding Limited (“Interbay”). Interbay was granted a fixed and floating charge, which is detailed further below, and the previous charge was satisfied.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/09453607/filing-history/MzI0Njg1Nzk5OWFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/09453607

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