FreshStart Living faces winding-up petition

SALFORD-based property investor FreshStart Living is facing a winding-up order in the High Court in London today.

According to a notice in the London Gazette the petition has been filed by London-based Roger Walters.

The move comes as Companies House documents show chief executive Charlie Cunningham has stepped down along with another senior director Phillip Wright, although they remain on the board of parent company Empirical Property Group. Mr Cunningham also holds shares in Empirical Property.

FreshStart has specialised in renovating old buildings and selling individual apartments off-plan to buy-to-let investors who it guarantees will see a fixed return over a set period.

Earlier this year a group of investors brought a winding-up petition against FreshStart student property vehicle FSL Properties Montgomery claiming debts of around £200,000 in unpaid rent. That was settled in April when Empirical Property agreed to pay nearly £131,000.

Mr Cunningham could not be reached for comment and neither could the petitioner, Mr Walters.