Loans totalling just over £2million made to former Dreamland operator Sands Heritage Ltd and company Southeast Retail Ltd mean the leasehold for the amusement park, 49-51 Marine Terrace - the former Punch and Judy pub and Escape club - and 13 rides all have charges on them.
The charges are security against failure to repay the loans. A 'negative pledge' in all three cases means the lender must be compensated ahead of any other creditors in regards to the charged property or items.
In May joint administrators Duff and Phelps were brought in to the troubled attraction.
Sands Heritage, which had operated the park for less than one year by that point, owed an estimated £8.34 million to scores of creditors, including many small local businesses, and had a total deficit of some £14 million.
Duff & Phelps role is to market and sell the business and assets although this may take until March 2017.
The list of creditors revealed that a cash injection of £600,000 came from offshore company Arrowgrass in May. The amount owed by August for the Arrowgrass loan was £2.3 million due to interest, charges and costs.
The terms of that loan meant a charge was placed on the leasehold for Dreamland.
A second loan made by Arrowgrass last month for £1million has a charge placed on 49-51 Marine Terrace.
Part of the property is currently occupied by Phases dance and fitness studio. The pub is occupied by Ale Caeser but an announcement on the venture's facebook page says they will be closing on November 19 and are now seeking a new location with the aim of opening in the new year.
A third loan, for £500,000, was made to Southeast Retail Ltd, whose director Nick Conington is also a director for Sands Heritage Ltd, in return for a charge on 13 fairground rides.
The loan was made in March, before Sands Heritage Ltd went into administration, by Charles Whitbread, of the Whitbread family and company. He is also the High Sheriff of Bedfordshire.
The rides documented by Companies House as being under the charge, and with 'Margate ride valuations January 2015,' are:
Cyclone Twist valued £45,000
Apple Coaster valued £75,000
Giant Wave Swinger valued £180,000
Giant Wheel valued £325,000
Log Flume valued £140,000 (All of the steel parts, lifts, pumps, overflow griddle and 10 logs.) Not constructed
Mono Cycle valued £55,000
Music Express (updated Caterpillar ride) valued £190,000
Jumping Boats valued £180,000
Astroglide valued £110,000
Shoot tower valued £80,000
Teacups valued £70,000
Swing Boats valued £10,000
Helter Skelter valued £130,000
Read more at http://www.kentlive.news/dreamland-s-le ... OBoiw2q.99