More misery for DeTrafford as another firm collapses
The vehicle behind the completed 109-apartment City Gardens in Manchester has entered administration, the third group company to do so in the last six weeks.
Administrator BDO, appointed by lender the scheme’s lender Maslow Capital, said DeTrafford City Gardens Ltd collapsed due to “economic challenges”.
A spokesperson for the joint administrators said: “Due to the wider economic challenges, City Gardens faced difficulties in realising the remaining unsold apartments.
“We will now be taking all necessary steps to maximise returns for the benefit of all creditors in accordance with our legal duties.”
It is understood that 82 of the 109 apartments have been sold, with 27 remaining.
DeTrafford was contacted for comment.
Last month, BDO was appointed as administrator to DeTrafford St Georges Gardens, the vehicle behind the completed development of the same name.
In August, Place North West revealed that the company behind Wavelength, DeTrafford’s proposed 421-home development at Salford Quays, had also gone into administration.
DeTrafford recently sold a site with planning approval for 400 homes off Great Jackson Street to Renaker, as revealed by Place North West.
