Frep 3 (Salford) Limited (10166168): administration
- Status
- In administration
- Administration began
- 2026-01-19
- Administrators
- Ian James Corfield, Simon Baggs
- Administrators' firm
- FRP Advisory
- Formerly
- Royalton MCP Residential Limited
- Incorporated
- 2016-05-06
- Location
- London
- Industry
- 43390 Other building completion and finishing
Why it went into administration
- COVID-19
- Weak consumer demand
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Creditor pressure / legal action
- Property / lease costs
From the administrators' statement
Background information regarding the Company and events leading to the appointment of the Administrators
The Company was incorporated on 6 May 2016 as a SPV as part of the Frogmore Group, for the acquisition of Cotton Quays. The purchase was initially funded by an alternative lender and subsequently refinanced by Leumi. Leumi holds a fixed and floating charge, created on 30 March 2023 and registered on 3 April 2023.
At the point of acquisition, the site already contained two completed office buildings, Laser House and Magnetic House. The Company let various floors within these buildings to third-party occupiers, generating monthly rental income whilst the wider site strategy was explored.
Administrators' statement of proposals (2026-03-20) · Companies House register