Gloucestershire housebuilder collapses into administration
TheBusinessDesk.com understands that property developer Piper Homes has collapsed into administration.
The Solihull-based firm saw turnover drop by almost half from £38m in 2021 to £20m in its accounts for 2022, citing a reduction in open market sales rates and “delays in achieving planning consent on new site starts” as factors to the year-on-year decrease in turnover.
The firm was set up in 2015 and focuses on mainly greenfield sites in affluent areas of the Midlands and South West.
It currently employs just under 40 staff and has three non executive directors.
It also reported a loss of £662k, but expected turnover projections for 2023 to improve to be either comparable or higher than 2021, with 993 contracted plots in the pipeline.
Piper Homes had sites across the Midlands, particularly focusing on semi-rural locations, including Worcestershire, Warwickshire, Nottinghamshire, Oxfordshire, Gloucestershire and throughout the Cotswolds.
The firm currently has a scheme in Dursley in Gloucestershire of three and four bedroomed houses ranging up to £500,000.
It was recognised in the Financial Times 1000 Europe’s fasting growing business list in 2022, coming in as the number one independent housebuilder in the UK.
Piper Homes has been contacted for comment, with no response received.
