Northwind Leisure Limited (SC211791): administration
- Status
- Administration ended
- Administration began
- 2015-11-02
- Administrators
- Gary Paul Shankland, Kenneth Wilson Pattullo
- Administrators' firm
- Begbies Traynor
- Formerly
- Goals Soccer Limited
- Incorporated
- 2000-10-09
- Location
- Edinburgh
- Industry
- 87300 Residential care activities for the elderly and disabled
From the administrators' statement
The Company owns a freehold property, currently occupied by a third party and operates as a dementia care home, known as Kingsway Care Centre, Kings Cross Road, Dundee, DD2 3PT, which is let to the Scottish Ministers. The initial annual rental under the lease is £500,000. The term of the lease is four years from 2 July 2013 although there is an option to extend the lease at the tenant’s request.
On 27 October 2015, the sole director held a board meeting in which it was noted that the Company was insolvent and that it was in the best interests of the Company and its creditors to place the Company into administration. Accordingly it was resolved that Santander UK Plc (“the Bank") be invited to appoint Administrators to the Company. The Joint Administrators were appointed on 2 November 2015.
It should be noted that the lease includes a clause that suggests that the Joint Administrators cannot dispose of the lease to anyone other than the tenant before expiry. Our solicitors are currently considering the validity of this clause.
Administrators' statement of proposals (2015-12-29) · Companies House register