Wed, 11 Jul 2012 | ADMINISTRATION
New Edinburgh Limited (NEL), the company behind Edinburgh Park business development, has entered administration.
The firm was set up in 1990 as a partnership between the City of Edinburgh Council and the Miller Group. It worked on the construction of office blocks, before selling them on at a profit. Further income was derived from selling land to developers.
At the moment it owns 30 acres of undeveloped land next to Edinburgh Park train station and a partially-let office block near the Gogar roundabout. However, it has no employees, meaning that the administration will not result in the loss of jobs.
Councillor Andrew Burns commented on the situation: “NEL was set up to generate development and employment and it has been highly successful in doing both. Since its creation in 1990 it has created 7,000 jobs and been responsible for the construction of 1.3 million square feet of office space.
"Unfortunately, the economic climate has changed due to global factors and the demand for office developments has declined. As such, even though overall NEL has been a successful and worthwhile venture it no longer offers sufficient benefit to justify the use of additional Council funds."
Deloitte have been appointed as the administrators of the firm and are set to consider what to do with its assets.
Provides high-quality industrial and welfare cleaning services, including system boiler and ducting cleaning, filter replacements, general site cleaning, plant driver cover and plant hire.
An accredited company with an excellent industry reputation. Client base includes a wealth of well-known blue-chip organisations and brands. Services an estimated 400 active clients and benefits from high retention rates, with approximately 80% of cl...
Operating primarily across London, the company offers the expert-led manufacture of a wide range of stone surfaces made from natural stone, such as marble, granite, onyx, and quartz. The company specialises in crafting custom marble countertops, arti...
13
|
May
|
Access Group acquires finance automation services provider | BUSINESS SALE
SME business management software specialist Access Group has...
13
|
May
|
Military simulations firm acquired at 5x operating profits | BUSINESS SALE
Mabway Limited, a military training and simulations company,...
10
|
May
|
North Yorkshire coaching inn on the market for £1.2m | COMMERCIAL PROPERTY
The General Tarleton Hotel and Restaurant, an 18th century c...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
We can help you capitalise on insolvent businesses. We list UK businesses in administration, liquidation and with winding up petitions daily. Ensuring our members never miss out on an opportunity
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.