Bulphan Developments LLP (OC401291): administration
- Status
- In administration
- Administration began
- 2025-09-22
- Administrators
- Steven John Williams, Gary Hargreaves, Jessica Leeming
- Administrators' firm
- FRP Advisory
- Incorporated
- 2015-08-13
- Location
- Preston
Why it went into administration
- Creditor pressure / legal action
From the administrators' statement
The LLP was incorporated on 13 August 2015 to acquire the land known as Pieris Place, Brentwood Road, Bulphan, RM14 3TL and was originally funded by National Westminster Bank pic. The LLP’s current members are Railshead Commercial Limited and Railshead Holdings Limited.
The Property has planning permission for a scheme of 19 detached residential homes and was split into three phases. Phase One and Phase Two were completed and sold, leaving Phase Three which consisted of 5 dwellings (Units 15, 16, 17, 18 and 19).
In December 2023, Harbour agreed to fund the final phase of the development by way of a loan secured with a charge over the land, a debenture over the LLP and a corporate guarantee provided by Railshead Commercial Limited. The loan was repayable within 12 months. The LLP was able to make drawdown requests against the facility to fund ongoing works, whilst the majority of the development works were being completed by companies connected by common ownership or control.
Administrators' statement of proposals (2025-11-07) · Companies House register