60 Curzon Street Limited - Administration

60 Curzon Street Limited, a luxury London development made up of 32 boutique apartments designed by the French architect Thierry Despont, has appointed Interpath Advisory as administrators.

The company, which is majority owned by two Chinese investment firms, has yet to comment on the reasons behind the administration. It is believed that the company suffered as a result of soaring construction costs and rising interest rates which have deterred potential buyers. In addition, key chunks of the development’s selling period occurred during the pandemic which prevented overseas purchasers from traveling to see the apartments.

Brockton Capital, which developed the project, said it is in discussions with funder Apollo Global Management regarding the completion of a business plan for an orderly sale of the apartments. 

Steve Absolom of Interpath Advisory, joint fixed charge receiver, said he expects the development to continue to generate significant interest from high-net-worth individuals.