Herts letting agent closes doors

Letting agent Pendley Estates, with branches in Kings Langley and Bovingdon, has ceased trading.

Reports suggest that at least 200 landlords will be among its creditors.

The firm, which identified itself as Pendley Estates (Kings Langley) Limited, posted news of its demise on its website. It said it would ‘soon be placed into Creditors Voluntary Liquidation’, and had asked corporate recovery and insolvency specialist Buchler Phillips Group to assist with the process.

‘Notices will be sent to all known creditors shortly’, it promised.

Landlord clients were advised to ‘contact your tenant and make arrangements for future rent payments to be made directly to your own bank account’.

All queries were directed to specialist Buchler Phillips (PendleyEstates@buchlerphillips.com), to which landlords should ‘send your most recent contact email address’ and from whom they should ‘request the Proof of Debt form’. The latter should be completed and returned ‘with backing invoices to prove your claim’.

You will shortly receive details of the proposed Creditors Voluntary Liquidation process to be followed by the company and the likely timing of the liquidation.

There are two directors of Pendley Estates (Kings Langley) Limited, 68-year-old Tring businessman Stephen Acott-Smith, and 62-year-old Richard Clayton. Both have been directors since the company started business in 2001.

Acott-Smith is also a director of Pendley Bovingdon Limited, a company incorporated in 2008 as Pendley Estates Limited but which changed its name in 2021.

The latest accounts of Pendley Estates (Kings Langley) Limited filed at companies house were for July 2020. Then the company had 13 staff and a net worth of £69,790, although £11,025 of that was ‘goodwill’. The figures suggest it made a profit of just over £13,000 during the year.