The administrators of Hurstwood Developments has announced that the build-out of phase one of the retail park at the New Hall Hey development in Rossendale has started.
Brian Green and David Costley-Wood from KPMG's restructuring practice in Manchester were appointed joint administrators of Hurstwood Developments, part of the Bolton-based property developer and investor group, on 19 September 2008.
Brian Green, who is head of KPMG restructuring in the North West, said: "Getting to this position has been a challenging and complicated process, but I am now delighted that the completion of the first three units is underway.
"Considerable time and effort has been spent by the administrators, our advisors and the local council in resolving a number of planning issues that existed prior to our appointment. However, we believe the completion of the units will provide potential tenants with an excellent opportunity to provide the local community with their products and services."
Contractors Morgan Ashurst has been instructed to carry out the works which will see the existing structure and the surrounding car park completed. KPMG said that the construction programme for phase one is set to be completed by early August.
Hurstwood put several of its group's subsidiaries into administration in 2008 to alleviate the damage caused by the credit crunch.