By Nick Turner

Last updated at 11:43, Wednesday, 05 September 2012

A Cumbrian property group has gone into administration – but tenants of its buildings around Cumbria have been reassured that their businesses will not be affected.

All Points North has struggled to stay afloat this year and was thrown a lifeline in May when its bank, the Clydesdale, agreed to extend funding until September 30 to give it time to sell off properties.

But now the bank decided to withdraw its support and administrators have been called in.

All Points North has a range of properties across Cumbria that include:

Office units under the name of Cumbria House on Penrith’s Gilwilly Industrial Estate

Retail units on Carlisle’s Botchergate

College House on Duke Street, Barrow, which includes offices for the NHS, O2 and a nursery

Several retail units on Highgate, Kendal

All Points North is listed on the stock exchange under the Alternative Investment Market and administrators hope this may prove attractive to possible buyers, but admit that if the company cannot be saved its properties will be sold off.

Paul Stanley of the accountancy firm Begbies Traynor, which has been appointed as administrators to the business, said that whatever happened to All Points North the leases held by tenants would not be affected.

“It might be that another property firm might be attracted to All Points North because of its stock market listing, but I’d like to reassure tenants that this is only an issue with the landlord and their leases will still stand,” he said.

First published at 11:31, Wednesday, 05 September 2012
Published by http://www.newsandstar.co.uk