Fri, 11 Apr 2014 | ADMINISTRATION
Four property businesses owned by Matrix Spinningfields Ltd have entered administration, it was announced yesterday (11 April).
Ernst & Young’s Real Estate Corporate Finance team and Savills have been appointed as joint administrators to handle the affairs of the businesses while a buyer or buyers are sought for the properties.
Matrix Spinningfields’ assets include two of Manchester’s most prestigious office blocks – the 350,000 square foot 1 Hardman Boulevard and the 150,000 square foot 1 Spinningfields Square – both of which are let to the Royal Bank of Scotland.
The four companies that have entered administration are: Plot 101 Nominee Ltd, Plot 101 Nominee 2 Ltd, Plot 403-405 Nominee Ltd and Plot 403-405 Nominee 2 Ltd.
Ben Cairns, joint administrator, said: "1 Hardman Boulevard and 1 Spinningfields Square, are two prime office buildings with over 500,000 square foot located in the Spinningfields development in central Manchester.
"The joint administrators are currently undertaking a full review of the two properties with a view to finding a buyer or buyers. The office locations continue to be fully serviced by managing agents and the tenants and suppliers will not be affected by the administrations."
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