Magellan Residential goes into administration

Yorkshire-based housebuilder and developer Magellan Residential has gone into administration.

The group has eight employees and five ongoing development sites that comprise a mixture of houses and apartments at various stages of completion. There are also two completed sites with ground rent income.

Dan Butters, at administrator Deloitte, said: “It reflects the continued pressures facing the UK housebuilding sector. Where appropriate, the completion of building works will continue while purchasers are sought for the business or the sites. We are working with all key stakeholders to establish an ongoing strategy for the business and will minimise disruption wherever possible.”