TCA Holdco Limited (09909513): administration
- Status
- Administration ended
- Administration began
- 2023-02-22
- Administrators
- Alastair Massey, Ian James Corfield
- Administrators' firm
- FRP Advisory
- Incorporated
- 2015-12-09
- Location
- London
- Industry
- 68100 Buying and selling of own real estate
Why it went into administration
- COVID-19
- Funding withdrawn / unable to refinance
From the administrators' statement
The Companies are part of The Collective Group which owns, develops and operates co-living residential buildings nationally and internationally. The buildings are designed for students and young professionals.
TCAL owns the serviced apartment building known as Actoni and TCARL is the operating company for this site which manages the day-to-day running of the building. TCKTL owns the building known as Kentish Town and also manages the day-to-day running of the building. TCAHL acts as the immediate holding company for the Companies and had no day-to-day operational responsibilities and does not hold any property assets of its own. Further details of each of the Companies are details at Appendix A.
The purchase of Acton 1 and Kentish Town was financed via a facility agreement dated 10 February 2017 provided by the Secured Creditor to TCARL and TCKTL (who acted as borrowers), which was guaranteed by TCAHL, TCAL and The Collective Kentish Town Holdco Limited (who acted as guarantors). The security registered against each of the Companies is as follows:
Administrators' statement of proposals (2023-04-25) · Companies House register