Home
Distressed Businesses
  • All Distressed Businessess
  • Administrations
  • Liquidations
  • Winding Up
  • Insolvency Advice  New
Buy a Business
  • All Businesses for Sale
  • Find a Business for Sale
  • Raising Business Finance
  • Buyer Acquisition Service   New
  • Escrow Service   New
Sell a Business
  • Sell Your Business
  • List your Business
  • Seller Accounts
  • Need Help Selling?
  • Help With Finance New
  • Corporate Services  New
  • Business Valuation
  • Business Wanted Adverts
Insights & News
  • View All News
  • View All Insights
  • Exclusive Insights New
  • Video Insights
Lens
  • Search all UK Companies  New
Log in
Join Now

Home / News / Property development companies call in administrators

Property development companies call in administrators

Tue, 28 Aug 2018 | ADMINISTRATION

Two Bradford-headquartered property companies have been forced into administration due to insufficient funds to keep projects afloat.

The Golden Sands Developments Platinum Limited and Golden Sands Developments Bradford Limited have called in specialist business advisory company FRP Advisory, and have appointed partners Gary Blackburn and Paul Whitwam as joint administrators to manage the administration process.

Both Yorkshire developers entered administration on the same day – a consequence of cash flow issues affecting the companies and therefore the inability to financially sustain their commercial and residential projects.

As a result, the future of a number of prominent Bradford-based developments remain uncertain, but no jobs have been affected due to the administration.

Blackburn commented on the situation: “Unfortunately, due to on-going cash flow issues both businesses have been forced to enter administration.

“We are now focused on securing a sale of the land and associated properties and are working closely with property agents Michel Steel & Co. to find a buyer.”

Golden Sands Developments Platinum Limited own land on Thornton Road which was to be developed into residential blocks, whilst Golden Sands Development Bradford Limited already owned an apartment building on Vaughan Street.

The two companies specialised in constructing residential buildings and later selling them to buy-to-let investors from abroad.

In 2016, Malaysian-based entrepreneur and one of Golden Sands Developments’ directors, Ameer Abas, said: “Golden Sands Developments’ projects are stable, and GSD is financially sound.

“GSD has no intentions whatsoever to abandon any projects and put the clients in any sort of discomfort.”

Interested buyers are invited to view the Golden Sands Developments Platinum Limited administration listing here, and the Golden Sands Developments Bradford Limited administration listing here.

For more news stories about administrations click here. For all our administrations listings, click here.


Share this article



Latest Businesses for Sale

Building Contractor Specialist
UK Wide, County Durham, North East

Services offered by the company include building preservation, wall tie replacement, repointing, insulation extraction and replacement, fire protection, and surveying. Operates regionally, working with clients including social housing providers and b...

Asking Price: Offers Invited
Turnover: £2,500,000

LEASEHOLD


Supplier & Installer Of Roofing Systems & Associated Products
South East, UK

Provides a comprehensive range of roofing installation solutions, along with complementary maintenance and repair services.

Asking Price: Offers Invited
Turnover: £2,270,000

LEASEHOLD


Independent Building Control Consultancy
South of England, UK Wide

Provides a personalised and professional building control service, working on a variety of projects, from small-scale extensions through to large housing developments across England and Wales.

Asking Price: Offers Invited
Turnover: £1,700,000

FREEHOLD



View more businesses for sale

News Search

Latest News

 
24
 
Feb
 

Nestlé acquires recipe kit firm SimplyCook | BUSINESS SALE

Nestlé has strengthened its position in the e-commerc...

 
23
 
Feb
 

Lockdown exit: What does the road map look like for UK businesses? | BUSINESS NEWS

After a winter spent almost entirely in lockdown, the govern...

 
22
 
Feb
 

Modular Group acquires Euramax Solutions with BFS backing | BUSINESS SALE

Modular Group Investments has acquired Barnsley-based window...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
25
 
Jan
 

Boohoo acquires Debenhams brand in £55m deal | BUSINESS SALE

Online retailer Boohoo has acquired the Debenhams brand in a...

 
13
 
Jan
 

Heat transfer equipment manufacturer falls into administration | ADMINISTRATION

Coventry-based Covrad Heat Transfer has fallen into administ...

 
07
 
Jan
 

Leicestershire country house hotel seeks investment after falling into administration | ADMINISTRATION

Country house hotel Hothorpe Hall in Theddingworth, south Le...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources

Become a Member

News Categories

  • - Business Sale
  • - Division Sale
  • - Administration
  • - MBO/MBI
  • - Merger
  • - Commercial Property

View all news


About Us

Business Sale Report is the UK's leading independent business for sale & distressed business listing service. Established in 1995, the report offers an up-to-the-minute, comprehensive overview of businesses for sale, latest distressed business listings and daily acquisition news.

Our Services

Businesses for Sale
Distressed Companies
List a Business
Help with Finance
Buyer Acquisition Service
Small Businesses for Sale

Company

About Us
Insights
News
FAQs
Reviews
Terms & Conditions
Privacy Policy

Get In Touch

020 8875 0200
[email protected]
167 Oakhill Road, London, SW15 2QW
Working hours: Mon-Fri, 9am - 5:30pm


Sign up to our free newsletter



© 1995-2021. Business Sale Report Ltd. All rights reserved. www.business-sale.com.