Mon, 22 Aug 2011 | ADMINISTRATION
A Manchester-based property development company has fallen into administration.
Whispers Developments (UK) Limited, which is located in Oldham, Lancashire, had been working on a large commercial property development that would have seen the former Royton Assembly Hall transformed into an Indian restaurant and wedding venue.
According to TheBusinessDesk.com, the Royton Hall site was acquired by Whispers Developments in 2003, with an initial completion date for the project set for 2004. However, this was then delayed until 2006, and the project has remained unfinished since then.
Insolvency firm Begbies Traynor has now been called in to act as administrators for the development company.
Partner at Begbies Traynor in Manchester, Paul Stanley, told TheBusinessDesk.com, “The refurbishment of Royton Hall has turned into a long-running saga for the council … This is a challenging market for property developers and we are currently trying to get to the bottom of the company’s finances.
“Our appointment was made by the bank as a defensive response to a winding-up petition served on the Company,” added Mr Stanley.
Mr Stanley also went on to confirm that ‘a significant amount of work remains to be completed for this [Royton Hall] building to prove itself fit for any purpose.’
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