Student apartments developer goes into administration
The developer of the 252-student apartment block The Quadrant in Liverpool has gone into administration.
Paul Flint and Paul Dumbell from KPMG’s restructuring team have been appointed joint administrators of Pinnacle Student Developments (Liverpool), registered in Manchester.
Pinnacle was a special purpose vehicle for the development of the building on Shaw Street, and as such had no direct employees.
The apartments were sold off-plan to individual investors, the majority of whom are based overseas.
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