Deloitte to act as administrators for developers of Birmingham Mint

A property development company, which was developing the former Birmingham Mint site on Icknield Street, Hockley, has gone into administration.

Deloitte has been appointed as the administrator to Junared One Limited, Junared Two Limited, Junared Three Limited, Burridge Land Limited and Warnock Estates Limited.

The historic Birmingham Mint site was being developed by the companies into a mixed-use scheme, including more than 180 luxury one, two and three bedroom apartments combined with 51,000 sq ft of commercial space.

According to Deloitte, due to the present economic climate Junared has been hit by lower sales interest, forcing them to stop work on the development.

Junared was also working on two other developments, both in London, one of which has already been sold and the other which remains part complete.

Matt Cowlishaw, partner in the reorganisation services practice at Deloitte in Birmingham, who was appointed as joint administrator with Dominic Wong, said: “In the current economic environment, the Junared companies faced lower sales interest as well as pre-sales agreements falling though, which 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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