Lime Grove Tuffley Limited (10314953): administration
- Status
- In administration
- Administration began
- 2023-02-27
- Administrators
- Martyn Ewing, Adam Henry Stephens
- Administrators' firm
- Evelyn Partners
- Formerly
- James Wood (Elmer Arlyss) Developments Limited; Lime Grove Tuffley Limited
- Incorporated
- 2016-08-05
- Location
- London
- Industry
- 41100 Development of building projects
Why it went into administration
- Funding withdrawn / unable to refinance
- Creditor pressure / legal action
From the administrators' statement
The Company was incorporated on 5 August 2016, specialising in the development of real estate and building projects.
The Company's principle asset is the Development, which is located in Tuffley, in the outskirts of Gloucester, which offers a comprehensive range of amenities and attractions. The Development also benefits from excellent commuter links and is situated close to the M5 and M50 motorways with good links to both Birmingham and Wales. It is also close to the M4 motorway, with good transport links to London.
Although the Development was initially progressing well, it fell behind both from a programme and budget perspective, with overruns and the chargeholders did not believe that the situation could be improved without the intervention. On this basis, the chargeholders reached out to Evelyn Partners for advice in relation to their options. After a short period of discussions, it was deemed that an administration was the most suitable process to protect their position, with Proseed taking control of the Development management under the supervision of the joint administrators.
Administrators' statement of proposals (2023-05-04) · Companies House register