Pine Developments Limited (10547442): administration
- Status
- Administration ended
- Administration began
- 2022-03-22
- Administrators
- Nedim Patrick Ailyan
- Administrators' firm
- FRP Advisory
- Formerly
- Deben Lettings Limited
- Incorporated
- 2017-01-04
- Location
- Knoll Rise, Orpington
- Industry
- 68100 Buying and selling of own real estate
Why it went into administration
- COVID-19
- Cash flow / liquidity pressure
- Brexit
From the administrators' statement
The Company is a private limited company registered in England and Wales under company number 10547442. The Company was set-up as a SPV to acquire and develop a former Pontin’s Holiday Park in Hemsby, Norfolk which closed in 2008/9.
The Company purchased the freehold Site in May 2020 after outline planning permission was secured for a mixed-purpose development scheme for the demolition of the existing buildings and redevelopment of the site for up to 190 dwellings, retail development and holiday accommodation, together with associated open space, landscaping and infrastructure.
At the point of the Company’s acquisition, the Site included a range of flat roofed holiday chalet buildings, with smaller single storey chalets towards the north, and a series of larger two-storey chalet blocks, developed circa 1950s/60s, sited, in majority, of the south of the Site. These buildings were laid out in courtyards and interspersed with roads, passageways, grassland and trees. There were also various pitched roof and flat roof buildings in the centre of the site, previously used for leisure purposes, together with a range of former outdoor sport and recreation facilities, including tennis courts, crazy golf, kids play areas, go kart track and abseil tower. All the buildings on site were in a poor condition, having suffered from vandalism including fire damage and fly tipping.
Administrators' statement of proposals (2022-05-23) · Companies House register