HBMP Developments Limited (09879612): administration
- Status
- Administration ended
- Administration began
- 2018-08-21
- Administrators
- Nimish Chandrakant Patel, Peter Anthony Hall
- Administrators' firm
- Peter Hall
- Incorporated
- 2015-11-19
- Location
- London
- Industry
- 41100 Development of building projects
Why it went into administration
- Funding withdrawn / unable to refinance
From the administrators' statement
The Joint Administrators have set out below a brief history of the Company and the events leading up to the Company being put into Administration. We have not been able to secure the cooperation of the Director or obtain the Company’s books and records. The outline of the history given below is based on the limited documents that are available to the Joint Administrators.
HBMP Developments Limited (“the Company”) was incorporated on 19 November 2015 by its founding directors Mr Milan Patel and Mr Hitesh Bhogatia. The Company appears to have been set up as a special purpose vehicle to develop the site at 34 -35 Thames Street, Windsor, SL4 1PR (“the Windsor property”). Planning permission was obtained to build nine flats and a commercial unit on the ground floor. By mid 2017, the old building on the site of the Windsor property had been demolished in preparation for the building work to commence.
In June 2017, the original loan obtained by the Company that had financed the acquisition of the Windsor property and the demolition work was refinanced by a secured loan of £2.3 million advanced by Gracechurch Sports Management Limited and Mr Manoj Saluja (together, “Gracechurch”) on 10 August 2017. This loan was secured by way of a floating charge over the Company’s assets and a fixed charge over the Windsor Property.
Administrators' statement of proposals (2018-10-31) · Companies House register