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Modular builder House by Urban Splash has entered administration following ‘operational issues’.
The modular construction firm backed by Japanese modular giant Sekisui, Homes England and Manchester-based developer Urban Splash has been placed into administration, with up to 160 jobs lost.
House by Urban Splash was created when developer, Urban Splash, bought SIG’s modular arm for £1 in 2018, including its factory in Alfreton. The business was later split off from Urban Splash, although it remained substantially owned by Urban Splash shareholders.
Last month the company said it had built its 1,000th modular home at the Derbyshire-based factory. But joint administrator Adrian Berry of Teneo has now confirmed that the business will be selling off assets to recoup money for lenders.
‘This appointment follows various operational issues relating to the factory in Alfreton,’ he said. ‘We will now look to stabilise the US House Group [subsidiary] by providing a platform to complete certain developments and explore sale options for the factory and the other development sites.’
House by Urban Splash’s schemes include New Islington in Manchester, East Float at Wirral Waters, Port Loop in Birmingham and Grappenhall Woods in Warrington. It is unclear what will happen at schemes still currently under construction.
At the time of its collapse, 48 per cent of the House by Urban Splash’s shares were still owned by shareholders. Japanese housing giant Sekisui owned a further 48 per cent of shares while Homes England owned 4 per cent.
A spokesperson for Homes England said: ‘We are aware that an administrator has been appointed. We remain committed to working with ambitious and innovative partners to help diversify the housing market and increase productivity.’
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