Future High Street Living (Digbeth) Limited (14116395): administration
- Status
- In administration
- Administration began
- 2025-03-17
- Administrators
- Anthony Collier, Gary Hargreaves
- Administrators' firm
- FRP Advisory
- Incorporated
- 2022-05-18
- Location
- Preston
- Industry
- 68100 Buying and selling of own real estate
From the administrators' statement
The Company was incorporated on 18 May 2022 as a special purpose vehicle (“SPV”) to acquire the Property known as SK Buildings, a prime development site in Digbeth. The sole Director is Samuel Ginda (“SG”) and the Company is wholly owned by Abu Jalil (AI) via Fg Management Ltd. The Property comprises land and derelict industrial buildings (part-demolished) with full planning permission for 484 apartments.
The development was funded by Together in July 2022 by way of a £10.5million purchase bridge, and a £2.8million VAT bridge. Together has the benefit of a debenture comprising fixed and floating charges dated 8 July 2022 over the assets of the Company, along with a personal guarantee from SG. AJ has been funding interest on the facility for the last 12 months.
The Director’s proposed exit at drawdown was a forward fund with a large multinational finance and asset management house, and we were advised that discussions were previously at an advanced stage, but ultimately failed to progress.
Administrators' statement of proposals (2025-05-14) · Companies House register