Administration of Aston Lloyd - Re10 appointed

In July Bijal Shah and Nimish Patel of Re10 were appointed Joint Administrators of both Aston Lloyd & Partners International Ltd and Aston Hotel Sofia Ltd, the London based real estate development specialists.

Both companies specialise in property development in emerging markets such as Bulgaria, Turkey, Slovakia and Northern Cyprus.  At the time of the administration, Aston Lloyd & Partners International Ltd had over several millions Euros worth of developments under management including properties ranging from luxury villas to a four-star hotel.

Aston Lloyd & Partners International Ltd and Aston Hotel Sofia Ltd were involved in the sourcing and developing of a number of real estate sites, principally in Bulgaria, Turkey, Slovakia and Northern Cyprus. These sites were in various stages of development, and there are likely to be a number of matters requiring the immediate attention of the joint Administrators.

Joint Administrator, Re10 partner Bijal Shah comments: “While we are still assessing the situation, we have recently written to creditors requesting information and their assistance.  It is likely that a large number of creditors, mainly individuals, will be affected. At this stage, the number is unknown.”

Overseas developments likely to be affected by the administration of Aston Lloyd & Partners International Ltd and Aston Hotel Sofia Ltd include:

• Aston Hotel – Sofia, Bulgaria (hotel development)
• The Colony – Bogaz, Cyprus (87 – 3-bedroom villas)
• Central 22 – Bratislava, Slovakia (residential development)
• Capital 68 – Sofia, Bulgaria (73 studios, 154 apartments)
• Cipura Villas – Bodrum, Turkey (64 villas)
• Jagoda Poynte – Varna, Bulgaria (68 3-bedroom villas)
• Lake Tuzla Apartments – Bodrum, Turkey (114 modern villas)