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20/11/2008
Another Taggart Firm Folds
Another subsidiary of the Taggart building group has gone into administration, it has been announced.
Taggart, once one of Northern Ireland's largest building firms, yesterday confirmed its Taggart Estates business had been put into administration, at the request of its directors.
The estates subsidiary held the group's land bank, most of which is in the greater Belfast area.
Taggart Estates Ltd owns five sites of development land and a part share in a sixth, totalling 87 acres.
Administrators Garth Carlow and Rob Birchall have been appointed from PricewaterhouseCoopers, which dealt with the closure of Taggart Holdings, Taggart Homes and Taggart Properties at the end of last month.
The same firm is also handling the administration of Taggart companies in the Irish Republic and England.
Mr Carlow said he was hopeful his appointment would boost the sale of the land bank.
"A number of parties were previously provided with information on this land bank."
He said formally Fraser-owned lands around the south Belfast and Dundonald area have generated considerable interest from potential developers and investors.
"It is planned to conclude discussions with a limited number of parties within a short period, after which we anticipate moving forward with a preferred party to complete the sale," he added.
According to Mr Carlow, all the land has outline or full planning permission for residential accommodation, except for 0.47 acres.
(PR)
Taggart, once one of Northern Ireland's largest building firms, yesterday confirmed its Taggart Estates business had been put into administration, at the request of its directors.
The estates subsidiary held the group's land bank, most of which is in the greater Belfast area.
Taggart Estates Ltd owns five sites of development land and a part share in a sixth, totalling 87 acres.
Administrators Garth Carlow and Rob Birchall have been appointed from PricewaterhouseCoopers, which dealt with the closure of Taggart Holdings, Taggart Homes and Taggart Properties at the end of last month.
The same firm is also handling the administration of Taggart companies in the Irish Republic and England.
Mr Carlow said he was hopeful his appointment would boost the sale of the land bank.
"A number of parties were previously provided with information on this land bank."
He said formally Fraser-owned lands around the south Belfast and Dundonald area have generated considerable interest from potential developers and investors.
"It is planned to conclude discussions with a limited number of parties within a short period, after which we anticipate moving forward with a preferred party to complete the sale," he added.
According to Mr Carlow, all the land has outline or full planning permission for residential accommodation, except for 0.47 acres.
(PR)
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