HBG Advisory appointed joint administrators of Norfolk Street Hotel & Residence Limited

HBG Advisory appointed joint administrators of Norfolk Street Hotel & Residence Limited. They were the company behind plans to build new city centre hotel in Baltic Triangle.

Simon Barriball and Sandra McAlister of HBG Insolvency Ltd t/a HBG Advisory were appointed joint administrators of Norfolk Street Hotel & Residence Limited on March 4, 2021.

The administrators are now seeking a buyer for the development based on Norfolk Street in Liverpool.

The administrators have already sent out letters to all known creditors and investors of Norfolk Street Hotel & Residence Limited. This letter includes full details of how they can submit a claim for any money they are due by the company.

Commenting on the news, John Waller, Director of HBG Advisory, said:

“Since our appointment, we have spent a lot of time working with the company and its advisors to better understand the development and its status.”

“I am optimistic that HBG Advisory, working with the Law of Property Act Receivers will be able to implement a rapid process to ensure this development finds a new owner that is able to complete it within the required timeframes stipulated by planning.”

“There are multiple stakeholders here, and our team has already made contact with relevant parties to provide an update and inform them of the next steps to be taken by the joint administrators.”

David Currie, of David Currie & Co, who was appointed joint Law of Property Act Receiver of the development on December 23, 2020, added:

“I appreciate that there is a lot of publicity and sensitivity regarding this site, but my role as Law of Property Act Receiver is to maximise values for all concerned and to this end, we have carried out a national marketing campaign as the market is the best barometer of value.”

For any parties interested in the purchase of the development site, visit https://www.hbgadvisory.co.uk/nshr/

For those who are directly affected by the failure of Norfolk Street Hotel & Residence Limited, including creditors and investors, please visit https://www.hbgadvisory.co.uk/nshr/