Massey's Folly Development Limited (09533249): administration
- Status
- In administration
- Administration began
- 2021-10-25
- Administrators
- Alex David Cadwallader, Nicholas Myers
- Administrators' firm
- Leonard Curtis
- Incorporated
- 2015-04-09
- Location
- London
- Industry
- 68100 Buying and selling of own real estate
Why it went into administration
- Funding withdrawn / unable to refinance
From the administrators' statement
The Company was incorporated on 9 April 2015 for the single purpose of acquiring and developing the Massey’s Folly Site. We understand the original Site was acquired in 2015 for £832,000 prior to granting of the current
planning permissions. The Company acquired the property with the intention of developing the site into a residential block of seven properties.
In order to fund the development of Massey’s Folly, the Company obtained a loan from Lyell, who are secured by way of first ranking fixed and floating charge over the Company’s assets being primarily Massey’s Folly. Lyell are currently owed circa £4million, including accrued interest.
Administrators' statement of proposals (2021-12-21) · Companies House register