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Five developers go into administration

Developer companies Junared One, Junared Two, Junared Three, Burridge Land and Warnock Estates have been placed in administration.

Matt Cowlishaw and Dominic Wong of Deloitte were appointed as joint administrators of the five firms, which were developing three sites in London and Birmingham.

These included the historic former Birmingham Mint at Icknield Street, Hockley, Birmingham, in a scheme to create 186 high quality residential apartments, together with 51,000 sq ft of commercial space, which is part complete. A development of 14 apartments at Bowerdean Court, Kensall Rise, London. Eight of these apartments had been sold.

Finally a part complete development of 14 residential apartments and 2,850 sq ft of commercial space at Harrow Road, London. 

Mr Cowlishaw said: “In the current economic environment, the Junared Companies have been faced with lower sales interest and certain pre-sale agreements falling away, which have resulted in the companies being unable to complete the developments.

“We are currently reviewing the developments and the options for their completion. Any parties interested in acquiring the developments in their existing state or entering into a joint venture for their completion should contact the administrators.”   

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