MOORFIELDS ADVISORY APPOINTED ADMINISTRATORS OVER LARGE RESIDENTIAL DEVELOPMENT IN NOTTINGHAMSHIRE
Property Specialists Arron Kendall and Milan Vuceljic of Moorfields Advisory have been appointed as Administrators of Sherwood Oak Homes Ltd and Sherwood Oak Holdings Ltd on 3rd October 2023.
The companies were in the process of constructing 313 homes, ranging from flats to 5 bedroom houses, in Mansfield, Nottinghamshire. Unfortunately, early on in the development, the companies started to experience difficulties following delays caused by Covid, and these were exacerbated by rising cost of supplies and services.
Moorfields are currently seeking a buyer for the development site and completed units through appointed sales agent HEB.
Arron Kendall, Partner at Moorfields, said “The development site in Mansfield provides an excellent opportunity for an onward purchaser. It is rare for a site of this size and quality to come to market with a live planning consent”
ENDS
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About Moorfields
Moorfields Advisory Ltd is one of the UK's leading boutique firms of restructuring and insolvency specialists. The highly skilled teams include restructuring professionals and licensed insolvency practitioners who provide leadership, experience and high-quality advice to companies and their stakeholders in financially distressed situations.
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