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Developer behind huge part-built Liverpool student scheme falls into administration

Administrators said it was due to increasing costs caused by the pandemic and Brexit

The company behind the part-built 'Natex' development in Liverpool has fallen into administration

The developer behind a part-built huge Liverpool city centre student accommodation scheme has fallen into administration.

The announcement was made on Thursday about Mount Group Student NatEx Ltd, which was building the £45m 500-unit NatEx student accommodation blocks between Norton Street and Fraser Street.

Administrators at tax, audit and advisory firm Mazars said the administration followed increasing costs from Covid and supply chain issues caused by Brexit.

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Patrick Lannagan and Julien Irving, partners at Mazars, were appointed joint administrators of Mount Group Student Natex Limited on October 5.

Mr Lannagan, joint administrator, said: “The administrators are presently assessing the financial position of the company with a view to determining the optimal strategy for the completion of the development.

“The company’s financial position has been adversely affected by delays and increased costs resulting from, among other factors, the Covid-19 pandemic and supply chain issues associated with the pandemic and Brexit."