According to the Liverpool Echo...
HOUSEBUILDER David McLean Group went into administration this morning putting the future of two major Liverpool projects into doubt.
The construction firm had a joint venture with Langtree on the former Garden Festival site at Otterspool for the £250m scheme which is to include 1,308 apartments and 66 town houses.
John Downes, managing director of Langtree Group, said: “This news will inevitably delay progress a little but will not stop the project. Langtree remains absolutely committed to delivering the scheme.
“Having recently secured planning permission we are currently drawing up the site remediation and garden management strategy required for the site to move the scheme forward.
“Langtree Group is in a very strong financial position with a healthy balance sheet and has the ability to deliver the project on its own, if needed. We will of course work with the administrator of David McLean Holdings to progress the scheme until a permanent solution is found to their issue.”
David McLean is also involved in the Kings Waterfront development to build 429 apartments in three towers.
The Deeside-based firm has been hit by the downturn in the property market, with recent trade press reports suggesting it was loss making.