Furness Quay Phase 1 Limited (10300867): administration
- Status
- Administration ended
- Administration began
- 2022-10-24
- Administrators
- Asher Miller, Stephen Mark Katz
- Administrators' firm
- Begbies Traynor
- Formerly
- Herreshoff Ltd; Furness Quay Phase 1 Limited
- Incorporated
- 2016-07-28
- Location
- London
- Industry
- 41100 Development of building projects
Why it went into administration
- Creditor pressure / legal action
- COVID-19
- Funding withdrawn / unable to refinance
- Parent or group failure
- Brexit
From the administrators' statement
The Company was incorporated in July 2016 by Kieran Moore, Darren McClellan and Gareth Morgan as part of the Fortis Group (“Fortis”) of development and construction companies based in the North West of England.
The Company was set up to purchase a 999 year long lease (hereafter “the Head Lease”) over a plot of land containing the vacant former Custom House office building in Salford Quays. The lease was acquired from a connected party freeholder, Furness Quay Limited, for a consideration of £2,055,978.
The origina! intention of the directors was to strip down the existing building to its concrete frame and use this to construct a new residential development, containing of 44 self-contained flats, with the development to be known as Herreshoff.
Administrators' statement of proposals (2022-12-19) · Companies House register