Two firms intimately connected to the plans for York’s Roman Quarter have called in the liquidators owing a total of £24 million.
Both Rougier Street Developments Ltd and Rougier House Developments Ltd were property companies connected to the planned development.
Now they are being wound up, owing huge sums to creditors.
The Roman Quarter promised an Eboracum Roman Museum, 153-apartments, an 88-room hotel and 20,000 square foot of office space.
The consortium behind the plans, backed by York Archaeological Trust, said it would bring in 500,000 visitors a year, create 50 new jobs and boosting the visitor economy by £21 million a year.
However, independent financial consultants said the scheme was unviable and would make a loss of £28m. Despite this, the scheme was granted planning permission by City of York Council in October 2022.
The site was put up for sale last March and Rougier Street Developments Ltd went into administration in May.
Now the scale of the collapse of the property speculators behind the Roman Quarter has been revealed.
Rougier Street Developments Ltd, which was based at Ogleforth House in York, has debts of £18.8m.
The company has two directors, John Neal and Stephen Ellis.
Creditors include:
- City of York Council – owed £443K
- Iken Loan Servicing, London – £10m
- Members of the York Syndicate – £6.5m
- Northern Trains – £769K
- O’Neill Associates, Clifton Moor – £184K
- Royal Pilgrim Communications – £42K
Rougier House Developments Ltd, again based at Ogleforth House, left debts of £5.2m. Its directors are also Mr Neal and Mr Ellis.
Creditors include:
- City of York Council – £61.4K
- Ian Leedham – £965K
- Octopus Real Estate, London – £1.3m
- York Syndicate – £900K.
Together the companies owe HMRC £32,000.
Both companies are being wound up by liquidators from FTS Recovery Limited based at Milton Keynes.
A third company, Rougier Street Developments Holdings Ltd, is set to be struck off from the Registrar of Companies.
FTS Recovery Limited is also winding up Toft Green Developments Ltd. This firm, which owned the Fibbers site and wanted to build offices and a new music venue there, was also based at Ogleforth House with Mr Neal as one of two directors.