Thu, 15 Sep 2016 | ADMINISTRATION
One of the leaseholders of an airport in West Sussex has gone into administration.
Albemarle Shoreham Airport Ltd (ASAL) had held a 120-year lease to run Shoreham Airport since 2008. The lease was transferred to Brighton City Airport in 2014 and ASAL took responsibility for the surplus land and commercial buildings on the site.
As part of the deal, ASAL was meant to restore the listed hangar at the airport. However, the company has now appointed administrators Menzies LLP.
Joint administrator Simon Underwood told the Brighton Argus: “We are assessing the situation currently but, as is usual in these cases, our aim will be to maximise as much value as possible for the benefit of creditors."
Brighton City Airport said that Shoreham Airport would not be affected by the company going into administration, although there are concerns among businesses based at the site about the ownership of buildings.
The airport site is owned by Brighton and Hove and Worthing councils. Council leaders at both local authorities said they were confident the airport would have a bright future after ASAL went into administration. The councils said they were optimistic that they would receive outstanding payments due to them from ASAL.
Brighton and Hove City Council leader, Coun Warren Morgan, said: “Our sincere hope is that this action begins to reposition the airport as a sustainable centre for aviation business, and we are pleased to hear of significant improvement plans already in place to improve the whole airport estate.
“We are keen to see the administrator work to secure the long term future of the airport and make the most of its offer to aviation businesses and investors alike.”
Search for businesses for sale
Old Age and Dementia Care Home, Essex – Registered for 27. Care home registered for 27 service users within the categories of old age and dementia care. The home has benefited from an extensive refurbishment programme, since then the home is rapidly...
Care home in convenient West Midlands location, registered for 38 residents specialising in dementia care. This attractive and highly reputable home features all single bedrooms. Our client has owned the business since the early 1990's and has chosen...
A very successful fish and chip takeaway enjoying a prominent and highly visual trading location in the south Cornwall town of Helston. Well-appointed takeaway area with 7-pan gas range, adjoining retail area, storage and preparation rooms. Spacious...
Sign up to receive our acquisition alert emails to get your FREE guide
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources