Strathallan Dunbar Limited (SC286121): administration
- Status
- Administration ended
- Administration began
- 2011-09-29
- Administrators
- John Bruce Cartwright, Alan Alexander Brown
- Administrators' firm
- PwC
- Formerly
- Strathallan Abercorn Limited; Macnewco One Hundred and Fifty SIX Limited
- Incorporated
- 2005-06-13
- Location
- Glasgow
- Industry
- 7011
From the administrators' statement
In conjunction with another company connected by common ownership, Strathallan Limited (in Administration), the Company purchased a plot of land for development purposes (“the Site”), using funding provided by the Bank.
The Site comprised 18 individual plots of land, of which 15 were developed. The remaining plots are vacant. The Company owned 13 of these plots and 12 were developed. At the date of my appointment, of the completed properties, 3 had been sold.
Due to the economic climate, and the resulting fall in property prices, the Company was unable to achieve any further sales. In addition, the rental income for the remaining Properties, together with those owned by Strathallan Limited (in Administration), was insufficient to service the Bank borrowings.
Administrators' statement of proposals (2011-11-18) · Companies House register