Westport House (Scotland) Ltd. (SC272653): administration
- Status
- Administration ended
- Administration began
- 2014-02-24
- Administrators
- Thomas Campbell Maclennan
- Administrators' firm
- RSM
- Formerly
- Argyll House Ltd.
- Incorporated
- 2004-08-27
- Location
- Edinburgh
- Industry
- 7011
Why it went into administration
- Competition / price pressure
From the administrators' statement
The company was incorporated in 2004 and has operated two office properties in Dundee, being Argyll House and Waverley House together with a car park. The properties have remained between 50-60% occupied in recent years and new tenants have been difficult to attract given the competitive nature of commercial letting and the recent economic downturn.
The director's intention was to redevelop the site to provide hotel, office, retail, and residential uses. However, due to the economic climate in recent years, development sites of this nature in Scotland have faltered due to difficulties in obtaining funding.
On 14 July 2011, | was appointed by Dunfermline Building Society (In Special Administration) as Administrator of the Company with Alexander tain Fraser subsequently being appointed as Joint Administrator on 4 August 2011. The appointment was lodged and ratified in Court of Session on 14 July 2011 and 4 August 2011 respectively. The appointment permitted the Joint Administrators to take any actions required either jointly or alone, and | have been the Administrator primarily involved in dealing with the Company's affairs.
Administrators' statement of proposals (2011-09-07) · Companies House register