A ‘luxury’ houses developer has had one other one among its corporations enter administration. Cliffedge 10 Newquay Limited is reportedly the fourth firm inside the Stephens & Stephens Group to go both into administration or liquidation up to now 12 months.
The condo block has been below development for a variety of months however all work has now halted, in response to CornwallLive.
A crane has been eliminated, and entry to the location has been locked up whereas directors take over the location.
Creditors at United Bank Trust Limited appointed Quantuma Advisory Limited to take over Cliffedge 10 Newquay on Monday.
Quantuma has beforehand been appointed as directors by one other financial institution, Paragon Banking Group, of two different Stephens & Stephens developments, in Newquay and Newlyn, CornwallLive additionally reported.
No 1 Pentire Newquay Ltd, which is behind the One Pentire flats improvement overlooking Fistral seaside, went into administration in May 2025.
This was adopted months later by Arcady Heights Limited, the corporate behind the High Tide housing improvement for the 5 luxurious houses in Newlyn.
Administrators at Quantuma confirmed their newest appointment and the takeover of the Cliff Edge 2 undertaking.
They informed CornwallLive it was at an early stage, however they’d once more survey the entire constructing earlier than deciding on the subsequent steps.
The administration affirmation is anticipated to seem on Companies House within the coming days.
Stephens & Stephens is run by husband and spouse Paul and Helen Stephens and is predicated in Truro.
The Stephens & Stephens holding firm, Stephens & Stephens Group Ltd, can also be reportedly susceptible to going into liquidation after HMRC filed a winding-up petition in opposition to the enterprise within the High Court of Justice (Chancery Division) in October final yr.
https://www.express.co.uk/news/uk/2164032/builders-plunges-administration-cliffedge-newquay