Rick Harrison and Howard Smith from Interpath Advisory were appointed joint administrators to De Trafford No1 Castlefield Limited on 30 May 2023.
The Company is a Special Purpose Vehicle (SPV) within the DeTrafford group which acted as a vehicle to construct the No1 Castlefield development, a 420 unit luxury residential development located on Ellesmere Street, Castlefield on land that it owns.
Despite significant levels of interest in the development, the company failed to bring the scheme forward. There has also been a winding up petition filed.
In light of the winding up petition, the secured lender took steps to protect its position, seeking the appointment of the joint administrators.
Rick Harrison, managing director at Interpath Advisory and joint administrator, said: “Our immediate focus will be to assess the options available for the site alongside our agents, bringing it to market in due course. Interested parties are advised to contact us at the earliest opportunity.”
Interested parties should contact Rick Sanders at Interpath Advisory via richard.sanders@interpathadvisory.com.
