Ten Square Hotel goes in to administration

George Sell By George Sell
21 January 2015 | Updated 21 January 2015

UK: Ten Square, a boutique hotel in Belfast city centre, has gone into administration.

UK: Ten Square, a boutique hotel in Belfast city centre, has gone into administration.

The property, which will remain open while the administration process is carried out, opened in Donegall Square South in 2000. In 2008 it was bought by property developer John Miskelly.

Administrators EY have been appointed to the 23-bedroom hotel. It said: "The hotel will continue to operate business as usual. All events booked with the hotel will go ahead and deposits paid will be honoured."

Ten Square is held by a company called Yorkshire House Limited. Its last set of accounts, for the year ending March 2013, showed a loss of £161,000 on turnover of £3.6 million.

In 2012 it made a profit of £269,000 on turnover of £6.1 million.

The firm's fixed assets - which refers to the hotel building - were valued at £4.2 million while creditors were owed £3.8 million.

An Irish Bank Resolution Corporation (IBRC) mortgage was registered on the building in June 2008.

www.tensquare.co.uk

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