Leaseco 23 enters administration as Interpath appointed

Leaseco 23 Limited, the property-owning company formerly known as Leeds Dock Limited, has entered administration, with Rick Harrison and Steve Absolom of Interpath appointed as joint administrators on 17 December 2025.

The company holds the leasehold interests in 24 ground-floor commercial units at Leeds Dock, a mixed-use waterfront development in Leeds that has become a hub for technology, media, and creative businesses, and is also understood to have an economic interest in two on-site buildings, Livingstone House and Stanley House.

In a statement, the administrators said they are working with property managers and other stakeholders to maintain continuity across the commercial estate while assessing strategic options for the business and its assets, including a potential sale process.

The appointment follows the filing of accounts in September 2025 that pointed to balance-sheet pressure, including a significant downward revaluation of the company’s investment property to £20.7 million in November 2024, compared with £30.4 million a year earlier, highlighting the impact of softer property valuations on leveraged real estate structures.

Interpath noted that the freehold interests in parts of the wider Leeds Dock site are being marketed separately, raising the possibility that investors could seek to acquire both freehold and leasehold positions as the administration progresses.