From the administrators' statement

We understand that there were 2 parties interested in the site at the start of 2020, one of the parties was to refinance and develop the site and the other was to purchase the site. Unfortunately, due to the global pandemic both of these interested parties withdrew their interest around March 2020. The secured creditor attempted to obtain further proposals from the director without success.

In order to protect their position as a secured creditor and in accordance with their security, Lendinvest Security Trustees Limited took steps to appoint administrators and notice of this was lodged in the Court of Session in Edinburgh.

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Hamilton Forsyth Heads Point Limited (SC531265)

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