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240214 | Hayle North Quay development collapse sees eight companies go bust Work has ground to a halt on the blocks of flats

Submitted by InYourArea and ... on Mon, 19/02/2024 - 13:17.

Hayle North Quay development collapse sees eight companies go bust

Work has ground to a halt on the blocks of flats at the site as administrators were called in
 
  • 05:00, 8 FEB 2024
  • Updated10:51, 14 FEB 2024
 
 
 
No fewer than eight different companies have gone bust in the collapse of one of the biggest housing developments in Cornwall. The shock news broke last week that the controversial North Quay complex at Hayle had collapsed.
 
Work halted and CornwallLive found the huge harbourfront site locked up. Locals reported a woman from HMRC in the area taking notes and even a police presence.
 
It was also confirmed that administrators had been brought in to deal with eight different companies involved in the scheme to create luxury flats alongside leisure, retail and business space on more than 100 acres in one of the largest regeneration projects in the South West. London-based insolvency specialists Moorfields Corporate Recovery have been appointed to deal with the fallout, the main firm being Corinthian Homes, headed up by Simon Wright.
Mr Wright, 56, is or has been a director of all eight firms. His wife Rebecca, 50, is or has been a director of half of them. See details of all eight companies and their directors below.
 
 
A spokeswoman for Moorfields said: "On Wednesday, January 31, Arron Kendal and Milan Vuceljic of Moorfields Advisory Ltd were appointed as follows: Sennybridge (Hayle) Limited – Joint Administrators; Corinthian Plant Limited – Joint Administrators; Corinthian Pencoed Limited – Joint Receivers of shares; Corinthian Land Limited – Joint Receivers of shares; Corinthian Access Limited – Joint Receivers.
"We are not instructed in respect of any other companies. Specifically we are not instructed over Hayle Harbour Authority Operations Limited."
The development - the regeneration of the run-down harbour area - has always attracted controversy, not least because it included the area used by the town's fishing fleet and it contains no affordable or social housing. Building work has been ongoing for several years, with the first two residential buildings in phase one complete. All units in these buildings have sold, with price tags hitting nearly £1 million and flats turned into holiday homes fetching up to £499 a night.
Residents started moving in just over two years ago, including into the sold-out first block of 17 new quayside townhouses, named Cannery Row. At that time more than 50 per cent of the 140 new homes being built in the first stage of North Quay’s regeneration had been sold with the majority of these apartments bought off-plan by buyers.
Last week a member of Hayle Town Council said: "The mayor announced officially tonight the developer has gone into administration now, but we are still awaiting an official update from the harbour master.
"The administrators Moorfields have been appointed at the request of North Quay lenders LCM Financial holdings. The companies under the administration include: Sennybridge (Hayle) Ltd, Hayle Holding Limited Company the ultimate holding company owned by Simon Wright, Corinthian Homes Ltd, Sennybridge (Hayle Harbour Authority Ltd).
"This information was given to us from the receivers directly in brief this evening (Wednesday January 31)."

The companies, their directors and details according to Companies House

Corinthian Homes Ltd
Registered office address: Pencoed Castle Farm, Pencoed Lane, Llanmartin, Newport, Wales.
Incorporated: May 10, 2018
Director: Simon James Clifford Wright, aged 56, appointed May 10, 2018 (correspondence address same as registered office above)
Nature of business: Other letting and operating of own or leased real estate
Sennybridge (Hayle) Limited
Registered office address: Pencoed Castle Farm, Pencoed Lane, Llanmartin, Newport, Wales.
Incorporated: April 28, 2015
Director: Simon James Clifford Wright, aged 56, appointed September 20, 2018 (correspondence address Mulberry House, Pen Y Pound, Abergavenny, Wales)
Director: Rebecca Wright, aged 50, appointed April 28, 2015 (correspondence address same as registered office above)
Director (resigned): David Tugwell, aged 54, appointed April 28, 2015, resigned September 20, 2018 (correspondence address 104 Walter Road, Swansea, Wales)
Nature of business : Development of building projects
Sennybridge (Hayle Harbour Authority Ltd)
Registered office address: The Old Customs House, North Quay, Hayle.
Incorporated: April 30, 2015
Director: Simon James Clifford Wright, aged 56, appointed October 31, 2018 (correspondence address same as registered office above)
Director: Rebecca Wright, aged 50, appointed April 30, 2015 (correspondence address same as registered office above)
Director (resigned): David Tugwell, aged 54, appointed April 30, 2015, resigned September 20, 2018 (correspondence address 104 Walter Road, Swansea, Wales)
Nature of business: Dormant Company
  The North Quay housing development in Hayle is on hold after its developers went into administration.

All work has currently stopped (Image: Greg Martin / Cornwall Live)

 

Hayle Holding Limited
Registered office address: Pencoed Castle Farm, Pencoed Lane, Llanmartin, Newport, Wales.
Incorporated: October 22, 2018
Director: Simon James Clifford Wright, aged 56, appointed October 22, 2018 (correspondence address same as registered office above)
Director: Rebecca Wright, aged 50, appointed April 30, 2015 (correspondence address same as registered office above)
Nature of business: Development of building projects
Corinthian Plant Limited
Registered office address: Pencoed Castle Farm, Pencoed Lane, Llanmartin, Newport, Wales.
Incorporated: September 23, 2016
Director: Simon James Clifford Wright, aged 56, appointed September 23, 2016 (correspondence address same as registered office above)
Director (resigned): David Tugwell, aged 54, appointed September 23, 2016, resigned September 20, 2018 (correspondence address Unit C Corinthian House, Galleon Boulevard, Crossways Business Park, Dartford, Kent)
Nature of business: Renting and leasing of construction and civil engineering machinery and equipment
Corinthian Pencoed Limited
Registered office address: Pencoed Castle Farm, Pencoed Lane, Llanmartin, Newport, Wales.
Incorporated: September 16, 2020
Director: Simon Wright, aged 56, appointed September 16, 2020 (correspondence address same as registered office above)
Director: Robert James Drew Evans, aged 53, appointed September 16, 2020 (correspondence address same as registered office above)
Nature of business: Construction of domestic buildings
Corinthian Access Limited
Registered office address: Pencoed Castle Farm, Pencoed Lane, Llanmartin, Newport, Wales.
Incorporated: December 8, 2020
Director: Simon Wright, aged 56, appointed December 8, 2020 (correspondence address same as registered office above)
Director (resigned): Norman Edward Grainger, aged 57, appointed December 8, 2016, resigned October 31, 2019 (correspondence address Mulberry House, Pen Y Pound, Abergavenny, Wales)
Secretary (resigned): Norman Edward Grainger, aged 57, appointed December 8, 2016, resigned December 8, 2019 (correspondence address Mulberry House, Pen Y Pound, Abergavenny, Wales)
Nature of business: Scaffold erection
Corinthian Land Limited
Registered office address: Gay Dawn Offices, Pennis Lane, Fawkham, Longfield
Incorporated: April 11, 2010
Director: Andrew John Billings, aged 59, appointed April 11, 2010 (correspondence address same as registered office above)
Director: Clive John Billings, aged 69, appointed April 11, 2010 (correspondence address same as registered office above)
Director: Ronald John Billings, aged 63, appointed April 11, 2010 (correspondence address same as registered office above)
Director: Stephen John Billings, aged 62, appointed April 11, 2010 (correspondence address same as registered office above)
Director (resigned): Jayne Margaret Walker, aged 56, appointed October 12, 2015, resigned March 16, 2022 (correspondence address same as registered office above)
Director (resigned): Martin Graham Walker, aged 61, appointed October 12, 2015, resigned March 16, 2022 (correspondence address same as registered office above)
Director (resigned): Simon James Clifford Wright, aged 56, appointed October 5, 2015, resigned January 11, 2019 (correspondence address same as registered office above)
Director (resigned): Rebecca Wright, aged 50, appointed April 28, 2015 (correspondence address same as registered office above)
Secretary (resigned): Norman Edward Grainger, aged 57, appointed December 8, 2016, resigned December 8, 2019 (correspondence address Mulberry House, Pen Y Pound, Abergavenny, Wales)
Nature of business: Other business support service activities not elsewhere classified
 
Arron Kendall, a Partner at Moorfields Advisory said: “We understand the importance of the regeneration project to the residents of Hayle. The project team will therefore facilitate the delivery of the development in accordance with the planning consent.
"The site which includes Hayle’s operational harbour, lies within the Cornwall and West Devon Mining Landscape World Heritage Site, and is of significant importance to the local boating and fishing community.
"We want to provide reassurance that Hayle harbour will continue to operate as normal throughout this new phase.”

Mayor

Mayor Anne-Marie Rance said Hayle Town Council was informed that the North Quay project was now on hold at its meeting last week. She said the site had been controversial since the word go with many residents in the town while at the same time, the affordable housing provision for the housing scheme near the cricket club had generally been welcome but worried it may now not happen at all.
She said: "They have been taken over by this specialist firm who deal with distressed developments so they can hopefully keep it running again soon. I'm just pleased that the harbour itself is not affected and the harbour master and the other staff are still in a job.
"There will be a lot of happy people in the town at the news that Simon Wright has gone bust. It's like they think that now he's gone into administration it will all be okay. But sometimes it's better the Devil you know.
 
 
"I've been on the town council for 13 years and we have worked very hard to get the development through in coordination with the World Heritage Site. We would like to see it completed. The problem with the developer was that rather than stick to what it was supposed to do from its planning permission it tinkered around the edges creating havoc.
"If they had just concentrated on the development itself it probably would not be in the mess it is now."
A spokesperson for HMRC said it was not able to comment. They said: "We are unable to comment on identifiable businesses due to strict confidentiality rules."

 

https://archive.ph/AUmWv

The development area at North Quay Hayle Harbour - the areas outlined in red are those which were withdrawn from the reserved matters application approved today
Drone footage reveals what Hayle harbour redevelopment could look like
The Hayle Harbour area where Carillion completed the £16 million North Quay infrastructure project in 2013
‹ 220407 | Riverside Chalet - Simon Wright, owner of Harbour Development Company trying to evict up240218 | Collapsed North Quay development in Hayle described as a 'sea of despair' ›