Miller joint venture falls into administration

Scottish housebuilder and contractor the Miller Group has seen its joint venture subsidiary developing the 120-acre Edinburgh Park development put into administration.

The joint venture with Edinburgh Council, called New Edinburgh Ltd, has been building out Edinburgh Park, the location of Miller’s group headquarters, since 1990.

Consultancy Deloitte was appointed administrator yesterday, with partners Matt Cowlishaw, Neville Kahn and John Reid appointed to the process.

Deloitte said that much of the park had already been developed and sold to investors, but that the remaining assets of New Edinburgh Ltd comprised a partly let 60,000 sq ft commercial office building, known as 7 Lochside View, and around 30 developable acres of land with planning consent for commercial use.

Matt Cowlishaw said the appointment of administrators would have no impact on the occupiers of 7 Lochside View, and that Deloitte itself will be appointing Scottish Widows Investment Partnership asset manager to consider the remaining assets of the joint venture.

The venture had been due to develop a further two million sq ft of accommodation on the business park over the next 15-20 years, according to the Miller Group’s website.

For more up to date information on the house building sector, attend the RESI conference in September. Places are limited, so besure to confirm you place there now. Visit www.resievent.com for more information on how to book your place.