Begbies Traynor Group

Provisional liquidators appointed to developers of prominent Dundee waterfront building

Ken Pattullo Dundee Alicydon
Date Published: 03/07/2023

On 20th June 2023, Ken Pattullo and Kenny Craig of Begbies Traynor were appointed as joint provisional liquidators of property development firm Alicydon Limited which had obtained planning permission to redevelop the landmark building, Custom House, on Dundee’s waterfront.

The Dundee-based property developer bought Custom House in January 2020 and subsequently submitted plans to restore the Grade A listed early Victorian structure to its former glory. Located on Dock Street, the building dates back to the 1840s and was originally the base of Dundee Port Authority. Having previously been used as a television studio and an office building, Custom House has been empty since 2008.

Alicydon last year succeeded in obtaining planning permission to convert the historic building into 20 luxury apartments and to construct two new buildings, providing a further 29 apartments as well as private parking and landscaped grounds.

After securing planning permission and commencing the initial stages of the development, cost overruns meant that the company had no option but to cease trading and appoint provisional liquidators.

Alicydon did not employ any staff as all work was subcontracted.

Provisional liquidator Ken Pattullo of Begbies Traynor, comments: “With its central location next to City Quay and close to V&A Dundee and HMS Unicorn, the restoration of Custom House is at the heart of the city’s regeneration plan.

“We are currently in the process of assessing the site before marketing the development and are confident that a new owner will quickly be found for one of Dundee’s most iconic landmark buildings.”

About The Author

Meet the Team

Ken joined the Glasgow office of Begbies Traynor in 2003, before overseeing the firm's expansion into further offices in Edinburgh, Dundee, Aberdeen and Belfast. He previously worked at KPMG, Ernst & Young and PricewaterhouseCoopers in Scotland. He has a broad range of experience in Corporate Rescue and Recovery, as well as in turnaround and restructuring, corporate and personal insolvency, investigations and IBRs.

Specialisms: Licensed trade, haulage, property investment/development, construction, agriculture engineering/manufacturing.

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