Loans company files application to appoint administrator to Manchester developer
A company specialising in loans has made an application to appoint an administrator to a Manchester property firm.
London-based CBRE Loan Services Limited is seeking to appoint an administrator to DeTrafford Sky Gardens, which is a development on Chester Road, in Manchester, near Deansgate rail station.
The developer is registered at St Georges Gardens Spinners Way, in Castlefield.
The website says the scheme is in construction and offers high-end one-, two- and three-bedroom apartments featuring stunning gallery bedrooms, private gardens and full height windows.
Prices for a one-bed apartment begin at £196,000, and a two-bed at £255,000.
TheBusinessDesk.com contacted the developer, but a phone answering service said the number was unallocated. Emails sent to two company addresses bounced back.
Two directors are registered with DeTrafford Sky Gardens on Companies House, Brian Lowndes and Gary Jackson.
The latest accounts filed at Companies House, for the year to December 31, 2020, show net liabilities of £3.412m, which compares with a net asset of £31,573 the previous year.
Loans amounted to £24.981m.
Manchester-based developer, De Trafford, has delivered successful schemes including St George’s and Elisabeth Gardens.
However, three developments were beset with problems. Last October, De Trafford City Gardens filed a notice to appoint administrators owing to some buyers being unable to complete on their purchases and new buyers could not be found in time.
The same problem caused DeTrafford’s St George’s Gardens scheme to enter administration the previous month.
Separately, administrators Kroll were appointed to DeTrafford’s £99m Wavelength development in August.
However, DeTrafford’s managing director Gary Jackson told TheBusinessDesk.com in October that a separate filing relating to its No1 Castlefield scheme was “an error” and was being corrected.
