Just another brick in the wall? Rock star struggles with bona vacantia property

Dave Gilmour, Pink Floyd's legendary guitarist, is struggling to sell Medina House, a former women's public baths on Brighton seafront. Converted into a family home, it boasts a courtyard covered garden, 4 bathrooms, 5 bedrooms, 4 reception rooms across three floors, a wine store, snug, gym and library. However, like all parents the time has come to downsize. His children are now grown and he has a one bedroom flat in Hove, which is large enough for him and his wife Polly Sampson.

The issue

The property was bought by Hoveco Limited in 2011, with Dave Gilmour as its sole director. 

In August 2022 it was put on the market for £15m. He reduced the price to £10m in September 2023, before finding out that Hoveco Limited did not own the property – it is owned by the Crown!

Bona Vacantia

Back in 2014, Hoveco Limited had been struck off the Register of Companies for failing to respond to a notice from the Register and dissolved, but the property had not been transferred. Under the Companies Act 2006, it passed to the Crown as bona vacantia (literally, vacant goods) – the name given to ownerless property, which by law passes to the Crown, except in Lancaster and Cornwall, where they vest in the Duchy of Lancaster and the Duchy of Cornwall respectively.

A company dissolved by liquidation, administration or striking off can be restored to the Register of Companies by way of a court application. Alternatively a director can apply directly to the Register (with the consent of the Crown in the case of bona vacantia). The time limit for making either application is 6 years – Dave Gilmour is out of time.

Press reports state that he is currently attempting to sue the Attorney General. He is seeking a transfer of the property back to himself, claiming an administrative oversight.

Practice points

A company can be dissolved following a liquidation, administration or striking off. In any such scenario it is prudent to ensure that there are no properties registered in that company's name before dissolution. If there are, these can be transferred to a different entity in advance.

We can easily carry out a check on the Avail AI platform against a company name (and any previous names) or number. Just ask your usual contact at Womble Bond Dickinson.