A property development company with a stake in the Wirral Waters project has collapsed into administration, with outside help brought in to oversee the completion of its building developments.
US House Group, a joint venture between Urban Splash and Sekisui House UK, both property developers based in Manchester, announced it had gone into administration on May 11. The news means 160 employees will be made redundant, many of them working on the company's development sites, reports businesslive.
One such site was the modular housing development - 'East Float' - of 30 homes being built as part of the Wirral Waters project on the Birkenhead docks. Despite the US House Group going into administration on Wednesday, May 11, Urban Splash, one half of the US House Group, submitted plans to construct 55 more homes to Wirral council.
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Urban Splash said: "The directors of House – (Urban Splash House Holdings Group) have appointed administrators from Teneo to the company. The appointment of Teneo senior managing directors Adrian Berry and Daniel Smith to the company has no impact on the wider Urban Splash group or its operations, which continue to run successfully.
"House is a joint venture between individual shareholders who own 48% of the equity, Homes England which owns 4% and Sekisui House UK Limited, which owns the remaining 48% shares.
"The administrators will oversee completion and sale strategies for the company’s developments."
Joint administrator Adrian Berry said their appointment followed "various operational issues" relating to a factory the joint venture owns in Alfreton, Derbyshire. He said they were looking to "stabilise" the US House Group by "providing a platform to complete certain developments and explore sale options for the factory and the other development sites".
He added: "We would like to thank all employees and other key stakeholders for their continued support."
At the time, a spokesperson for Urban Splash said: "We’re keen to engage with local people and hear what they think about East Float and the wider Wirral Waters.
“Architecture and art are very subjective and it’s no surprise to see a range of opinions here; in building beautiful, bright red houses - the red being a nod to the iconic Tower Road bridge - we were always going to create a talking point and that’s a good thing.
