# Frep 3 (Salford) Limited (10166168)

> Why UK company 10166168 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/10166168

- **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- Funding withdrawn / unable to refinance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.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/10166168/filing-history/MzUxMDUxMzU3NmFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/10166168

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