Administrators appointed at Stockport property firm

A STOCKPORT-based company which owned properties worth more than £2.7m when its accounts were filed earlier this year has been placed into administration.

New Future Build, which was based at an address at Heaton Lane in Stockport town centre and was owned by Ali and Ajaz Farooq, has appointed Lindsey Cooper and Russell Cash from Baker Tilly Restructuring and Recovery as joint administrators.

A spokeswoman for Baker Tilly said that the company owned several residential and commercial properties in and around Manchester. The list filed accounts showed that it owned land and buildings worth £2.7m and had overall assets of more than £3m. The company did not have any employees.

The spokeswoman said that administrators were currently working out a recovery strategy with a view to disposing of its assets.