Belfast Telegraph

Belfast hotel developer banned as director for six-years

By Staff Reporter

The director of a company that developed a major hotel in Belfast's Cathedral Quarter has been banned from the boardroom for six years after racking up debts of £2m.

The undertaking was received for six years by the Department for the Economy from Colin John Conn (54), of Loma Street, WA 6011, Australia.

That was in respect of his conduct as a director of Corner Blok Limited.

Corner Blok restored a building on the junction of Waring Street and Donegall Street to create the Four Corners Hotel, which opened in 2008.

The company entered administration in 2011.

The hotel is leased to Premier Inns, remains open and continues to trade as normal.

Corner Blok Ltd operated in the property development industry from Upper Newtownards Road, Belfast, and went into administration on March 30, 2011.

It had liabilities to unsecured creditors of £2,650,000 and an estimated deficiency as regards creditors of £2,150,000.

The department said it accepted the disqualification from Mr Conn for a number of reasons.

That included causing and permitting the company to retain a total of £981,529 in VAT, failing to "maintain and/or preserve and/or deliver up accounting records for the company from December 31, 2008 to the date of administration", and failing to file annual accounts for the company with Companies House.

The Premier Inn hotel was subsequently sold for £9m by administrators Deloitte to CBRE Global Investors in 2013.

The former bank building had been derelict for 15 years before its £15m restoration.

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