LOK Developments 05 Limited (11824444): administration
- Status
- In administration
- Administration began
- 2024-10-29
- Administrators
- Alex David Cadwallader, Nicholas Myers
- Administrators' firm
- Leonard Curtis
- Incorporated
- 2019-02-13
- Location
- London
- Industry
- 41201 Construction of commercial buildings
Why it went into administration
- HMRC / tax arrears
- COVID-19
- Supply chain disruption
- Pension deficit
From the administrators' statement
The Company was incorporated on 13 February 2019 with the sole purpose of constructing commercial and domestic buildings. The main asset of the Company is a part complete freehold development located at Prospect House, Hallgate, Hexham, Northumberland NE46 1XG (“the Development’).
The Company purchased the Development in April 2019 for £700,000. The gross development value (“GDV”) is anticipated to be £3.53million.
The build-out of the Development endured significant costs and time overruns, primarily as a result of supply chain issues following the aftermath of Covid-19 and the price spike in materials and goods.
Administrators' statement of proposals (2024-12-24) · Companies House register