Shojin Financial Services Enters AdministrationFRP Trading Advisory appointed as joint administrators; 16 ongoing projects continue inside SPVs

Shojin Property Partners Limited and Shojin Financial Services Limited — the parent companies behind the UK property investment platform Shojin — were placed into administration on 23 March 2026 following a decision by the directors of both companies citing insolvency.

Simon Carvill-Biggs and Ian Corfield of FRP Trading Advisory Limited have been appointed as joint administrators and are now responsible for the companies' affairs, business and assets. The administrators have begun an immediate stabilisation exercise, including a review of the financial position and the security structure across the Shojin group, and intend to explore interest in the business via an accelerated marketing process alongside their statutory and regulatory obligations.

Shojin was authorised and regulated by the Financial Conduct Authority (FCA) and operated as a property crowdfunding platform offering debt and equity positions in UK real estate developments. Its investments were classified as Non-Mainstream Pooled Investments (NMPIs).

Crucially, the administration was put in place upstream of the investment special purpose vehicles (SPVs) that hold each individual property project. Shojin has confirmed that the 16 ongoing projects were not disrupted by the appointment.

Key practical points the firm has communicated:

- Shojin will not onboard new clients and will not accept new investments from existing clients. - Retail investors with funds currently held on the Shojin platform are reported to see no immediate impact. - Investors can continue to manage funds as normal and there are no restrictions on withdrawals at this stage.

The SPV-based structure is the mechanism that allows the underlying property investments to continue operating while the parent platform's commercial future is resolved. That said, the legal and operational separation between platform and SPV does not eliminate execution risk — including potential delays, additional costs, or changes to how individual projects are wound down or transferred.

The FCA has confirmed that it will be engaging with the firm and the administrators to seek to ensure the best outcomes for investors.

Two points worth understanding about the regulatory backdrop:

- NMPI investments are not protected by the Financial Services Compensation Scheme (FSCS) for investment losses. FSCS protection generally applies to deposits and to advice or arranging failures by authorised firms, not to the performance of NMPI investments themselves. - FCA authorisation is not a guarantee of solvency of the authorised firm or of any return on investment. It sets conduct, prudential and disclosure standards, but commercial failure of an authorised firm remains possible.

Investors should rely on direct communications from the joint administrators at FRP Trading Advisory for the most current and binding information on the status of their holdings.

Shojin is the latest in a series of UK property-focused crowdfunding and peer-to-peer platforms to enter administration in recent years, following names such as The House Crowd (2021) and others where business models built on illiquid property exposure faced refinancing pressure, project delays, or weakened deal flow.

For investors evaluating any property crowdfunding or peer-to-peer (P2P) platform, the Shojin case underlines several recurring themes:

- The distinction between the platform entity (which can fail) and the SPV-level investments (which may continue) is structurally important but legally complex in practice. - Illiquidity is a defining feature of these products. Even where withdrawals are technically permitted, the underlying assets cannot typically be sold quickly. - Concentration risk matters. Retail investors with material allocations to a single platform face platform-level operational risk on top of project-level investment risk.

For background on the asset class, see our primers on [private credit and direct lending](/learn/private-credit-direct-lending-uk) and [real estate private funds](/learn/real-estate-private-funds-uk).

Reported by The Intermediary, 30 March 2026: [Shojin Financial Services Limited enters administration](https://theintermediary.co.uk/2026/03/shojin-financial-services-limited-enters-administration/).

We will update this article as further information from the joint administrators or the FCA becomes available.