Three options facing Hillstone

JOINT administrators of the Hillstone firm — which was developing three major sites in Oldham until the business ceased trading in June — are investigating the feasibility of selling the completed developments, finishing on-site work and then marketing the properties, or selling the on-site developments partially completed.

Kerry Bailey and Jonathan Newell at PKF (UK) LLP were appointed on Friday to administer Hillstone Development (Barnsley), Hillstone Development (Cardinal Street), Hillstone Development (Mumps) and Hillstone Developments (Union Street).

In addition, they have also been appointed joint administrators of Hillstone Investments Ltd and Construction Projects Ltd, which are linked by common shareholders and directors.

A period of consultation is now taking place to assess the future and viability of the developments at Oakwell View in Barnsley, The Bank (Mumps), Cardinal Court and The Victory in Oldham.

This follows the closure of Hillstone Development Ltd, a property development company which was based at Salmon Fields Business Village, Royton, which went into administration on June 26.