Infinity Developments Liverpool Limited (10665533): administration
- Status
- Administration ended
- Administration began
- 2020-03-19
- Administrators
- Paul Steven Cooper, David Rubin
- Administrators' firm
- FRP Advisory
- Incorporated
- 2017-03-13
- Location
- London
- Industry
- 68100 Buying and selling of own real estate
Why it went into administration
- Funding withdrawn / unable to refinance
- Creditor pressure / legal action
From the administrators' statement
3.1 The Company was incorporated on 13 March 2017 as a specialist purchase vehicle for ‘ Infinity’ development on the junction of Lanyork Road and Leeds Street, Liverpool. The Company is part of the Elliot Group, (“EG”) which is a well known property developer of residential and hotel developments in the North of England. EG is controlled by the sole Director, Elliot Lawless (“EL”).
3.2 Planning permission was obtained for three blocks of 39, 33 and 27 storeys, respectively. Infinity would provide approximately 1,000 residential units with associated off street parking, together with communal facilities and commercial / office space. Infinity is situated in a prime location in ‘business district and historic waterfront of Liverpool and within walking distance of the city centre.
3.3 The Company engaged with sales agents, who would market Infinity to sophisticated individual Investors (“Investors”) who would purchase specified individual flats ‘off plan’ within the planned development. Marketing of Infinity commenced in 2017 to primarily ‘buy to let’ Investors and incentives were offered, such as assured rental income of net 6.5% per annum for three years following completion.
Administrators' statement of proposals (2020-05-15) · Companies House register