London property investment company enters administration

By Bridging Loan Directory -

 

A London property investment company which boasts assets of some £10m has entered into administration.

The affairs of Tiger Estates LLP – which owns freehold properties in Leicestershire, Bedfordshire, Birmingham and Peterborough – will now be handled by Deloitte.

Matt Cowlishaw and David Langton have been named joint administrators for the company whose properties offer a mix of retail and office space.

Cowlishaw explained: “The properties are tenanted and income generating and will continue to operate as normal.

“We will shortly be placing the properties on the market and any interested parties should make contact with the administrators.”

Among the properties it owns is the XN Centre in Dunstable and Geneva House in Peterborough.

The business – which was incorporated in 2005 – is registered and trades in Hackney, East London.

According to the company’s most recent accessible accounts filed in September 2010 Tiger Estates LLP boasted total assets of £13.2m.

However, its net assets had dropped by 45% from £2.9m to £1.6m.

The amount the company owed to creditors had also risen by more than 50% from £1.2m to £1.8m.