Buyer sought as property developer falls into administration

A PROPERTY and land development company based in Birmingham has slipped into administration.

De Montfort Property Co, headquartered in Yardley, is now under the control of joint administrators Paul Stanley and Jason Greenhalgh from the Manchester office of insolvency specialists Begbies Traynor.

De Montfort specialises in designing and building homes, and buying and selling brown and green field land for development.

It is not yet clear how many staff have been affected by the administration and what, if any, redundancies will result.

Mr Stanley told TheBusinessDesk.com: “The business has entered into administration and we are looking for a buyer.

“De Montfort developed land and property and, on the residential property side, we are seeking a developer to complete the properties in the company’s portfolio.”