Administrators confirmed at £100m housing scheme
Business advisory firm Moorfields has been confirmed as the administrator to the developer of a major residential development in north Nottinghamshire.
Sherwood Oak Homes Limited, which is behind the £100m Oaks scheme in Forest Town, near Mansfield, last week filed a notice of appointment to appoint administrators, with Moorfields being officially called in on October 3.
OakNorth Bank, which holds a charge over the company, applied for Sherwood Oak Homes Limited to be put into administration.
A second firm, Sherwood Oak Holdings, has also called in administrators from Moorfields.
Nearby residents have said on the scheme’s official Facebook page that the site has been closed “for ages”.
The Oaks is a development of 313 2- 3- 4- and 5-bedrooms houses. Prices range from £225,000 to £480,950.
Henry Boot Construction was chosen as the construction firm on the scheme when it kicked off in November 2021. Pygott & Crone was marketing the homes.
Sherwood Oak Homes is a company registered in Woodford Green, Essex. In its latest accounts, made up to the end of February 2022, it had assets of just over £12.5m and owed £12.6m to creditors.
OakNorth Bank declined to comment when contacted.
