Blinkbonny Property Limited (SC292143): administration
- Status
- Administration ended
- Administration began
- 2013-11-27
- Administrators
- Paul Dounis, Kenneth Wilson Pattullo
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2005-10-24
- Location
- Aberdeen
- Industry
- 68100 Buying and selling of own real estate
Why it went into administration
- Funding withdrawn / unable to refinance
From the administrators' statement
The company was undertaking the development of a former farm steading at Newburgh, Cupar, Fife. The development involved the creation of five residential houses.
As discussed in section 5, one of the directors, Annaline Rae Webster, has completed a statement of affairs for the company. In addition to this, Ms Webster has also provided some initial information on the background to the company’s failure.
She advises that the site was purchased at near the height of the property market, and by the time the first house was sold, the market had dropped significantly. Additionally, the company could not raise funds to complete the externa! works on the entire site, which further impacted on the saleability of the first property, as it effectively was located on a live building site. Although the house was eventually sold, the price
Administrators' statement of proposals (2014-01-23) · Companies House register