Havelock Property Limited (11535403): administration
- Status
- In administration
- Administration began
- 2025-05-15
- Administrators
- Ian Lawrence Goodhew, Abigail Shearing
- Administrators' firm
- Begbies Traynor
- Formerly
- Havelock 1 Limited; Cochrane Design 10 Limited
- Incorporated
- 2018-08-24
- Location
- London
- Industry
- 68100 Buying and selling of own real estate
Why it went into administration
- COVID-19
From the administrators' statement
3.1 The Company experienced issues from the earlier stages of development in 2020 and 2021 through a mixture of COVID-19 halting efforts and slowing progress, and the general rise in the cost of materials also contributing to higher than expected costs encountered in construction of the building, resulting in the project going £1.3 million overbudget.
3.2 Due to the higher than anticipated costs experienced, the Japanese investors in the project have not been paid their expected returns on their investment.
3.3 The freeholder has also had disputes with the Company since late 2022 regarding the development of further units in the premises that would bring in further income, this is despite the planning permission for these units being provided by Hastings Borough Council.
Administrators' statement of proposals (2025-07-18) · Companies House register