Binghill Estates Limited (SC063141): administration
- Status
- Administration ended
- Administration began
- 2023-09-11
- Administrators
- Callum Angus Carmichael, Graham David Smith
- Administrators' firm
- FRP Advisory
- Incorporated
- 1977-09-26
- Location
- Aberdeen
- Industry
- 68100 Buying and selling of own real estate
Why it went into administration
- Weak consumer demand
- Property / lease costs
From the administrators' statement
The Company was incorporated on 26 September 1977 and William Mitchell is the sole director.
Binghill Estates Limited previously owned up to 30 commercial and residential properties in the Aberdeen area, however, the director gradually reduced the property portfolio to six residential, of which some were tenanted, and one commercial property which was vacant at the date of appointment.
Historically, many of the residential properties had been rented to energy companies on long term leases, however, more recently the properties had been rented on Private Residential Tenancy (‘PRT”) leases which include statutory 28 days notice periods for the tenant which made cashflow unpredictable.
Administrators' statement of proposals (2023-11-07) · Companies House register