Kent Street (HSG) Limited (11789884): administration
- Status
- Administration ended
- Administration began
- 2021-10-20
- Administrators
- Carrie James, Paul Davies
- Administrators' firm
- FRP Advisory
- Incorporated
- 2019-01-28
- Location
- Southampton
- Industry
- 41100 Development of building projects
Why it went into administration
- Bad debts / customer insolvency
From the administrators' statement
The Company was incorporated on 28 January 2019 and on 27 February 2019 entered into a Sale and Purchase Agreement (“SPA’) for the purchase of the entire share capital in Lupa Land Limited which was acquired with the benefit of its wholly owned subsidiary, KSB Birmingham Limited. An extract of the current corporate structure is shown on page three.
KSB Birmingham Limited owned land at Kent Street, Birmingham (Plot 1}. Additionally, the SPA provided that KSB Birmingham Limited would enter into a lease with Yona Developments Limited in respect of adjacent land at Kent Street, Birmingham (Plot 2). Yona Developments Limited and the Company have a common parent, High Street Residential UK Limited (which entered administration on 27 October 2021).
On 26 February 2019 the Company granted a charge to ACPI Private Debt Fund II in consideration of Loan Notes to a value of £3m.
Administrators' statement of proposals (2021-12-16) · Companies House register