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Woking Council

Peter Robinson (Moyallen)

Managing Director, Moyallen Holdings Ltd|Victoria Square JV partner: 2013-2022
Moyallen Properties Ltd entered administration April 2022. Moyallen Holdings stake acquired by WBC.

Managing Director of Moyallen Holdings, the Northern Irish property firm that was Woking Borough Council's joint venture partner on Victoria Square. Moyallen held 52% of Victoria Square Woking Limited, with the council holding 48%. The project ballooned from a £150 million scheme to over £700 million. Moyallen Properties went into administration in April 2022, after which the council acquired the remaining stake.

Key Actions

  • Partnered with Woking Borough Council on Victoria Square, holding 52% of the joint venture
  • Oversaw a project that ballooned from £150 million to over £700 million
  • Moyallen Properties entered administration in April 2022
  • Council acquired Moyallen's stake, taking full ownership of the loss-making development

Details

Peter Robinson is the Managing Director of Moyallen Holdings Limited, a property development firm based in Dungannon, County Tyrone, Northern Ireland. The firm became Woking Borough Council's joint venture partner on what would become the most expensive and controversial project in the scandal.

Moyallen Holdings held a 52% stake in Victoria Square Woking Limited (VSWL), with Woking Borough Council holding the remaining 48%. The project was first conceived around 2013 as a £150 million town centre regeneration, but costs ultimately quadrupled to over £700 million.

The development delivered 429 apartments, a Hilton DoubleTree hotel, and approximately 125,000 square feet of retail space. However, the completed development is estimated to be worth roughly £200 million against approximately £750 million in borrowing — a catastrophic destruction of value.

Moyallen Properties Limited went into administration in April 2022. Woking Borough Council subsequently exercised its option to acquire Moyallen's 52% stake in VSWL, taking full ownership of the loss-making venture.

Moyallen was audited by WHR Accountants Ltd, a small firm based in Armagh, Northern Ireland — an unusual choice for a joint venture partner on a project of this scale.

Sources

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