Caledonia Property Co (Castle ST) Ltd (SC535037): administration
- Status
- Administration ended
- Administration began
- 2019-11-18
- Administrators
- Stewart Macdonald
- Administrators' firm
- Mazars
- Incorporated
- 2016-05-10
- Location
- Glasgow
- Industry
- 68209 Other letting and operating of own or leased real estate
From the administrators' statement
The Company was incorporated on 10 May 2016 as a property development company by Martin David Reid.
The Company acquired 7 flats contained within a mid-terraced building and located in Forfar town centre. This was funded by Aldermore Bank in early 2017. The company was unable to service its debt and accrued significant arrears on the lending facility. Aldermore was concerned by the Company's financial position and took steps to place the company into Administration.
After confirming | had no prior professional dealings with the Company, | was appointed Administrator on 18 November 2019. At the date of my appointment, the Company's property portfolio consisted of 7 properties which are all secured by Aldermore.
Administrators' statement of proposals (2020-01-16) · Companies House register