MOORFIELDS APPOINTED ADMINISTRATORS OVER 85,000 SQFT SERVICED OFFICE PORTFOLIO IN ABERDEEN
Property Specialist Arron Kendall of Moorfields Advisory has been appointed Joint Administrator of Waterloo Quay Properties Limited.
Waterloo Quay Properties is a commercial property investment, development and leasing company that had been redeveloping the Aberdeen harbour landscape since 2000. It’s properties include a campus of ten commercial properties overlooking the Victoria Dock in Aberdeen.
Unfortunately, the company suffered difficulty due to an oversupply of office space in Aberdeen, increased energy costs and changing reliefs offered to empty properties.
Moorfields are continuing to trade the business whilst a strategy is developed to sell the buildings.
Arron Kendall, Partner at Moorfields, said: “Waterloo Quay Properties has done a great job of redeveloping the properties at the Victoria Dock so its unfortunate that the changing landscape has led to difficulties. The Waterloo Quay development occupies a prime location so has a lot of potential to offer the right investor.
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Moorfields Advisory Ltd is one of the UK's leading boutique firms of restructuring and insolvency specialists. The highly skilled teams include restructuring professionals and licensed insolvency practitioners who provide leadership, experience and high-quality advice to companies and their stakeholders in financially distressed situations.
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