By Ian McConnell
A company behind a 45-apartment development in Glasgow has fallen into administration, following a “period of financial difficulties”.
Ian Wright and Scott Milne of business advisory firm Quantuma have been appointed as joint administrators to Glasgow-based property developer Titan Homes (Partick) Limited.
Quantuma, which is now seeking a sale to a developer to take the proposed Partick housing project forward, said: “Following a period of financial difficulties the company, which was founded in 2015, entered administration on July 9, 2021, allowing the secured lender to take control of the site.”
The “Fairfields” residential development at Meadow Road in Partick "has plans to construct 45, two and three-bedroom apartments over seven floors, with lower-ground parking space for up to 51 cars", Quantuma noted. The site extends over 0.3 acres, with the floor area under construction sitting at 35,177 sq ft.
Joint administrator Mr Wright, managing director at Quantuma, said: “Titan Homes (Partick) Limited has entered administration following a prolonged period of financial difficulties. There is an opportunity here for a property developer to take on the fully approved Fairfields site in Glasgow. Interested parties should contact [chartered surveyor] DM Hall’s Glasgow office.”
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