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| EMPIRICAL PROPERTY GROUP FRESH START LIVING LTD CHARLIE CUNNINGHAM, PHIL WRIGHT Internet |
| 23rd of Jan, 2013 by User724088 |
| Does anyone know which firm of Insolvency Practitioners are proposing the CVA on Empirical Property Group aka Fresh Start aka Affordable Property Group (their latest name?) |
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A LONDON property developer is behind a bid to wind up Salford buy-to-let specialist FreshStart Living.
Roger Walters, chief executive of Supercity UK which operates three aparthotels in the capital, is chasing FreshStart over a £20, 000 deposit he paid on 10 flats at a proposed FreshStart student scheme in Nottingham.
He says the scheme is now not going ahead and he wants his money back, but FreshStart insists the development is on track, although it has been delayed.
The company was planning to convert a 30, 000 sq ft office building at the Victoria Shopping Centre into 157 student apartments in time for the 2012-13 academic year.
Mr Walters said: “They didn’t own the property and they never bought it so there was no chance of developing it so I asked for my money back, and they just don’t give it back, it’s incredible, they just don’t.”
Mr Walters issued a statutory demand, which gives a debtor 21 days to pay, and then issued a winding-up petition which was heard in London on Monday. The case was adjourned to give both sides time to submit evidence.
FreshStart’s chief executive Charlie Cunningham said it was “rubbish” that the Nottingham development had been abandoned. “We’ve exchanged contracts which makes us the beneficial owner and we’re going through the planning process to change it into student accommodation. It’s taken much longer than we hoped it would but there’s no question of the scheme not going ahead.”
He added: “He’s reserved six units and is contractually obliged to buy the units and complete. We’ve offered him a number of alternatives but that hasn’t come to anything.”
But Mr Walters told TheBusinessDesk he was not interested in other developments. He said: “I’m not going to let it go, I’m going to take it all the way. They’re not denying they have the money, they even offered to move it to another scheme. They’re not denying it, they just don’t want to give it back.”
A developer for 30 years, Mr Walters said he wanted to “let someone else do the developing” and has also put a deposit of £75, 000 down on six flats at FreshStart’s Trafford Press scheme in Manchester which has not yet been completed.
as featured in businessdesk.com by James Graham |
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