Damfield Meadows in Maghull was designed by Studio RBA. Credit: via Merrion Strategy

Liverpool housebuilder shuts down

Luxury residential developer Elite Homes has ceased trading, citing financial difficulties arising from two Merseyside projects: Damfield Meadows in Maghull and Glenavon Park in Prenton.

Elite Homes has closed down as the company begins litigation against the building contractor for the projects. The main contractor for those projects was West Yorkshire-based Brierstone.

Lockdown, supply shortages, and rising material costs led to both Damfield Meadows and Glenavon Park running at a loss. These factors also led to financial and operational challenges for the contractor, according to Elite Homes.

Steven Latham, managing director of Elite Homes, said: “The houses are built and occupied but work remains to be done on issues such as landscaping and snagging to ensure both estates are completed to the standard that we and the residents had hoped.”

Latham continued: “This is a very regrettable outcome and my job now is to fight hard with our legal advisors to secure the funds to complete the schemes.”

Brierstone issued the following statement: “Brierstone are still owed sums for previous work undertaken on these projects and have reason to believe that no further funding is available for the sites. As such Brierstone are unable to continue work and incur costs without being certain of payment.

“We are currently liaising with our legal team as to the recovery of outstanding funds owed to us.”

Damfield Meadows comprises 14 four-bed detached homes, while Glenavon Park has 32 homes. All of the homes in both schemes have been sold.

Elite Homes is a subsidiary of private rental company Elite Estate Developments, which is unaffected by the decision for Elite Homes to cease business. Elite Estate Developments is based in north Liverpool.

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It just goes to show that the public opinion of house builders being capitalist scumbags with huge profits and a license to print money isn’t always the case in reality. Like everything in life, nothing is straightforward.

By 3D bloke

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