Breaking: Porter Davis liquidators have confirmed that up to 375 homes will be built after an agreement to sell the company’s multiple dwelling business.
Liquidators for the collapsed home building giant Porter Davis have confirmed that up to 375 homes will be built after they inked an agreement to sell the company’s multiple dwelling business to Nostra Property Group .
Under the deal, up to 126 townhouses at different stages of construction will be completed by NPG, while the agreement also gives the property group the ability to commence construction for up to 169 additional townhouses which were pre-sold off the plan. Liquidators for collapsed Porter Davis said it had entered into an agreement that would keep people employed and ensure houses are completed.Separately, NPG will support a further 80 Porter Davis customers whose homes are yet to be commenced.
Grant Thornton liquidator Said Jahani said the agreement would also offer ongoing employment to some Porter Davis employees, saying it would “see a number of jobs preserved.” In the announcement on Monday, the liquidators said at least 16 Porter Davis team members would be offered positions with NPG and that the company would also immediately recruit new roles.
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