Historical Bannockburn site sold out of liquidation to create new homes
A vacant builder’s yard and workshop in Bannockburn village has been sold out of liquidation to property developers Lovell Partnership Ltd in a deal which will regenerate the historical site and create 41 new homes, including ten affordable properties.
Paul Dounis and Lindsey Cooper of RSM Restructuring Advisory LLP were appointed joint liquidators to D Roy (Civil Engineering) in September 2017.
The solvent liquidation process allowed RSM to sell the circa four acres site on Milnepark Road to housing experts Lovell Partnerships Ltd after securing planning consent from Stirling Council for the proposed development.
Paul Dounis, partner at RSM and joint liquidator, said: “Today’s deal provides a new lease of life for the vacant site and will deliver much-needed new homes for the village and surrounding area.”
Clark Crosbie, land director Scotland for Lovell, said: “We have worked closely with RSM and their advisers on this deal. It is great news for the local community and economy that we will now be able to realise the various benefits of the development. We have started construction on site and look forward to delivering the high quality private and affordable homes that are in great demand in this wonderful part of Scotland.”
RSM Restructuring Advisory LLP was advised by Justin Lamb Associates and Shoosmiths in respect of the land sale process.