Adara Property Ltd (16115334): administration
- Status
- Administration ended
- Administration began
- 2026-03-19
- Administrators
- Mark Grahame Tailby, Craig Andrew Ridgley
- Administrators' firm
- Mercian Advisory
- Incorporated
- 2024-12-03
- Location
- Wallsend
- Industry
- 41202 Construction of domestic buildings
From the administrators' statement
2.1 |The Company was incorporated as Adara Property Limited (“the Company”) on 03 December 2024. The company was set up as a holding company for an investment in a trading subsidiary, Castleworth Developments Number 3 Limited ((CDNL’) which was a special purpose vehicle set up to purchase a site and develop a luxury lodge retreat at Strawberry Fields, Pannierman Lane, Great Ayton TS9 6PP
2.2 On incorporation, the director was lain Schofield
2.3 In February 2025 the shares in CDNL were sold to the Company, by Castleworth Investments Limited (CIL) for the sum of £1.95m. A deposit of £0.45m was paid and the balance of £1.5m was provided by an interest free loan with a £1.5m exit fee. As part of the purchase, the Company granted a fixed charge over the shares in CDNL and a floating charge over the assets of the Company.
Administrators' statement of proposals (2026-05-13) · Companies House register