London property company collapses into administration

A London property business selling and developing overseas homes has collapsed into administration.

It is thought that creditors could include many British buyers who have put down substantial deposits for properties that have yet to be finished.

Aston Lloyd & Partners International, together with its sister company Aston Hotel Sofia, specialised in ‘emerging markets’ such as Bulgaria, Turkey, Slovakia and Northern Cyprus.

At the time of administration, Aston had over €70m-worth of developments under management including properties ranging from luxury villas to a four-star hotel, with sites in various stages of development.