Commercial property company 'enters into administration'

A Leeds-based property group has gone into administration after accruing alleged debts of more than £50m to a number of high street banks.

SRM Holdings, which is owned by Simon Morris, was set up in the summer after Mr Morris dissolved Morris Properties and its parent company SR Morris.

The company specialised in commercial property as well as some residential, with a portfolio of over 500 and 30 employees.

Administrators from insolvency specialists Begbies Traynor have been appointed to deal with the company as well as around 50 subsidiary companies.

Earlier in the year, Morris was featured in a BBC Panorama documentary which alleged that his firm sold student flats to buy-to-let investors at inflated prices and is still subject to a joint investigation between West Yorkshire police and the Serious Fraud Office.

At the end of last week, it was announced that a £175 million commercial property scheme in Huddersfield, West Yorkshire has got the go-ahead to begin construction work.

Martin Slowe Property Services are Commercial Property Consultants offering a full range of Commercial Property Services.