A development project to turn a farmhouse and 12 holiday cottages into a destination retreat on the North Yorkshire moors has failed before it got off the ground.
Administrators at corporate recovery and business advisory firm Quantuma were appointed to Belisa Spa & Gym Ltd on 23 February 2018, who had planned to build a new hospitality offering at Beck House Farm in Cropton, Pickering.
Director Simon Campbell and partner Andrew Watling from Quantuma are now assessing the position of the Doncaster-based company, which was founded in December 2010.
Campbell explained: “The intention was to develop a destination retreat by upgrading a farmhouse and 12 holiday cottages at Beck House Farm, Cropton, Pickering, but it never got off the ground.
“The project has had to be placed into administration because the financing had breached its terms with the secured lender.
“There were issues with the initial valuation and title to surrounding land and it proved impossible to refinance the project in the time available.”