High Street Commercial Finance Limited has been overdue with its accounts since 27 September 2019.
High Street Group completes the structure of Newcastle’s biggest erection
In other High Street Group news, the structure of Hadrian’s Tower, the biggest skyscraper in Newcastle at 27 stories, has been completed.
Property agents are currently selling flats in the work-in-progress tower with “7% net yield guaranteed for 5 years”.
Completion of the tower is scheduled for May 2020, according to the BBC.
Gary Forrest, chairman of developer The High Street Group of Companies, said: “When we first came up with the idea of building Newcastle’s tallest tower on this site, everyone said we were crazy and that it could not be done.
“They said there would be no demand for apartments without car parking; they said the project would never achieve the value we placed on it; someone even said it would be a white elephant.
Anonymous people sniping from the sidelines say the darndest things.
“But we’ve had the courage of our convictions and, working with Tolent, we have made this happen.
All they need to do now is generate enough money from the sale of apartments, and their other developments, to pay returns of up to 22% per year after costs and overheads.