Craigieland Country Park LLP (OC338186): administration
- Status
- Administration ended
- Administration began
- 2013-07-26
- Administrators
- Kirstie Jane Provan
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2008-06-19
- Location
- London
Why it went into administration
- HMRC / tax arrears
- Creditor pressure / legal action
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Bad debts / customer insolvency
- Property / lease costs
From the administrators' statement
The LLP owns and operates Craigieland Country Park (‘the Park”), which 's a touring and static caravan holiday park The Park has a total of 119 static caravan plots and 16 static lodge plots, which are currently utilised by owner-users The Park also has 120 touring caravan pitches and space for 40 tents which are rented to the seasonal! touring market There are 11 static plots which are rented out as holiday homes/shortterm accommodation and the park enjoys bar and restaurant facilites along with a small shop Income ts generated via (1) the sale of static caravans, (ii) collection of ground rent income from existing owners (tl) commission on any resident sales of static caravans, (iv) casual rental income and (v) bar/restaurant income
The Park has historically targeted the middle to lower end of the market and ts located adjacent to Loch View Park ("LVP”), which ts a largely undeveloped site owned by Loch View Park Limited, also in administration (‘LVPL’) Both the Park and LVP are charged to Santander UK pic (“the Bank”) as secunty for the borrowings of the LLP and LVPL it was previously envisaged that LVP would be developed to cater for the higher end of the premium lodge market and as a result steps were taken throughout early-mid 2012 to market higher end units for sale in the Park itself
The reasons for the LLP’s insolvency
Administrators' statement of proposals (2013-09-03) · Companies House register