Student accommodation provider Alpha Homes Group has appointed RSM to oversee the sale of its 30-bedroom Aberdeen site.
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.
According to RSM, the company has no registered employees.
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."
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