Student accommodation provider goes into administration

Paul Dounis and Gareth Harris of RSM Restructuring Advisory LLP were appointed Joint Administrators to Alpha Homes (Leicester) Limited on 23 December 2021. 

Alpha Homes (Leicester) Limited was part of the Alpha Homes Group, a student accommodation provider across the UK, and RSM has been appointed to oversee the sale of its Aberdeen site, a property consisting of 30 bedrooms. The company has no registered employees.

The decision to appoint administrators was made by a group of investors in the Highgate development in Aberdeen, following a build-up of unpaid rent due under various lease agreements. The company continues to trade, with student tenants in place.

Administrators are working with the director and property agents to maximise the potential returns for creditors through the sale of the development, whilst ensuring continuity of service for the residents. 

Paul Dounis, partner at RSM and joint administrator, said: ‘With student tenants currently residing in the property, we want to ensure trade continues, ensuring minimal disruption to the residents and their living situation, as we seek to sell the Aberdeen site.

‘As part of this process, we are engaging with property agents and relevant stakeholders to ensure we ascertain all the necessary information to update tenants and facilitate an agreeable sale.’