Place North West | Administrator appointed to One Islington Plaza
Dan Whelan The 317-bed student accommodation scheme on Liverpool’s Devon Street, which was owned by a special purpose vehicle of the same name, has fallen into administration and consultancy Colliers International has been hired to value the property for sale. The One Islington Plaza SPV owes a creditor, Lender Route Finance, £4.3m, according to a report from the joint administrators Simon Campbell and Paul Zalkin from Quantuma Advisory. But a sale of the site is only estimated to realise between £1.2m and £2.2m and therefore is unlikely to repay the debt in full, the report said. In...
Source: placenorthwest.co.uk