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Administrators Indicate Possibility of Elliot Group Schemes Restarting

Posted by Sajni Shah in ,

Image courtesy of Flickr, Creative Commons

Elliot Group placed two property developments into administration earlier this month. Infinity was a £250m scheme close to Liverpool's waterfront and was made up of three residential towers. Aura was a £100m student accommodation project on a site close to the Knowledge Quarter.

There is also a third residential scheme in Salford which was placed into administration.

The collapsed schemes came about following the arrest of the Elliot Group founder.

The management and control of the sites has now been allocated to the joint administrators. In a statement the administrators explained "I am optimistic that David Rubin & Partners will be able to implement a rapid process to ensure these developments are able to be completed, providing both state-of-the-art student and residential accommodation. There are multiple stakeholders here and our team will shortly be in contact with all relevant parties to provide an update and inform them of the next steps to be taken by the joint administrators."