MOORFIELDS ADVISORY APPOINTED ADMINISTRATORS OVER BOUTIQUE HOTEL DEVELOPMENT IN YORKSHIRE

Property Specialists, Moorfields Advisory have been appointed Administrators over Within Reach Developments Limited.

Within Reach Developments were in the process of restoring and converting the Grade II Listed Fleece Hotel in Richmond, Yorkshire. The restoration involved lovingly restoring the 10 bedroom hotel to its former glory with restaurant, lounge bar and café. In addition the company were developing an apartment and 3 mews properties to the rear of the hotel.

Unfortunately the hotel fell in to financial difficulty just before Christmas after the project overran, currently the residential properties remain unfinished.

Moorfields are currently seeking a buyer for the hotel, whilst considering a build-out of the residential properties.

Simon Thomas, Moorfields Advisory Partner said “ Its unfortunate to see such a well restored hotel in a fantastic location suffer difficulty but I think the quality of the redevelopment provides a fantastic opportunity for the right buyer. The developers focused on local demand so the restaurant and lounge bar should prove to be successful”

Interested parties should contact Agne Sinkeviciute on 0207 186 1156 or email at agne.sinkeviciute@moorfieldscr.com for further information.

ENDS

For media enquiries, please contact:

Katie Smith

Tel: +44 (0)20 7186 1144

Email: ksmith@moorfieldscr.com

About Moorfields

Moorfields is one of the UK's leading independent firms of restructuring and insolvency specialists. Our 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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