Brandt Developments Limited (12312854): administration
- Status
- In administration
- Administration began
- 2025-06-25
- Administrators
- Edward Avery-Gee, Daniel Mark Richardson
- Administrators' firm
- CG&Co
- Incorporated
- 2019-11-13
- Location
- Manchester
- Industry
- 96090 Other service activities n.e.c.
From the administrators' statement
3.1 Following completion of the sale of Plot 1, in October 2024, a sale of Plot 3 was agreed in the sum of £305,000. However, as the proposed purchasers were in a property chain they were notina position to finalise the sale at this time. It was agreed with the Directors that the sum of £25,000 would be paid to the Company as a non-refundable commitment fee in order to hold the property until the sale of their property had completed.
3.2 Asthe sale of Plot 3 progressed, BFS became aware that the projected sale proceeds for the two remaining properties were lower than anticipated and it was considered that any funds realised may not be sufficient to cover the repayment of the lending facility in full, including interest. This was mainly due to further deposits paid that were no longer available to BFS upon completion.
3.3. BFSissueda demand for repayment however, remained unsatisfied.
Administrators' statement of proposals (2025-08-20) · Companies House register