KPMG appointed administrators to Morston Assets Limited

KPMG appointed administrators to Morston Assets L...

Rob Croxen, Allan Graham and Blair Nimmo, Restructuring Partners at KPMG, were appointed joint administrators to Norfolk-based Morston Assets Limited.

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Rob Croxen, Allan Graham and Blair Nimmo, Restructuring Partners at KPMG, were appointed joint administrators to Norfolk-based Morston Assets Limited and also as administrators and fixed charge receivers over certain of the Group’s subsidiaries and properties on Friday 12th December.

The company, which employs 28 people, specialises in mixed use regeneration and development projects throughout the UK.

Commenting on his appointment, Rob Croxen said: “Unfortunately after many months attempting to raise finance in order to complete regeneration and development projects, new funds have not been secured. The directors felt that there was no other option but to put the business into administration in order to protect current projects and to preserve value for creditors.”

Administrators have been appointed to Morston Assets Limited, Morston Archway Limited and Morston Management Limited which do not own any properties. They have also been appointed to Morston Whitecross Limited, which owns properties in Whitecross and Falkirk; and Yours Communities Coatbridge 1 and 2 Limited which comprises of properties in Calderwood Village and land in Coatbridge.

The properties under administration are:

  • Trent and Mersey Canal, Burslem
  • Former Midwinter Pottery Tip & Burgess Dorling and Leigh Tip
  • Princes Court and Frederick House
  • Morston House, Holt, Norfolk
  • Saddlebow Road, Kings Lynn
  • Horsleys Chase, Kings Lynn
  • Trunk Road, Kings Lynn
  • Morston Point, Kings Lynn
  • Land at Hazelside, Cannock
  • Morston Court, Weston Super Mare
  • Wolstanton, Newcastle Under Lyme
  • Sherdley Road, St Helens
  • Old House Whit Lane, Salford
  • Langley Road and Abram Street
  • 43 & 45 Lichfield Road, Cannock
  • Lakeside Site E Phase I, Cannock
  • Lakeside Site E Phase II, Cannock
  • Lakeside Zone E, Cannock
  • Willows Business Park, Kings Lynn
  • Watermark, Gateshead
  • Metro, Gateshead
  • Morston House, Newcastle Under Lyme
  • Super Snooker, Pensnett, Dudley
  • Blackburn House, Newcastle Under Lyme
  • Grove Road, Fenton, Mount Pleasant, Stoke-on-Trent
  • Middleport, Stoke-on Trent
  • Ansley Workshops, Pipers Lane, Nuneaton
  • Gin Wood, Pipers Lane, Nuneaton
  • Freebridge Farm, Kings Lynn

Administrators from KPMG are continuing to trade the business with the assistance of the Group’s staff, whilst the strategy to realise best value for the portfolio of properties is determined.


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For further information please contact:

Emma Murray, KPMG Press Office

T: +44 (0)20 7694 6506


KPMG Press Office: +44 (0) 207 694 8773


About KPMG

KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 11,500 partners and staff. The UK firm recorded a turnover of £1.8 billion in the year ended September 2013. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 155,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.

This article represents the views of the author only, and does not necessarily represent the views or professional advice of KPMG in the UK.

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