James Clark and Howard Smith from Interpath were appointed joint administrators to group companies Camstead Limited, Scotfield Group Limited and Yelcon Limited.
Leeds based Camstead Homes specialises in prestigious residential developments in prime and rural locations and has completed more than 4,000 properties across the country.
The companies currently have three developments underway in Derwenthorpe, Shepley and Adel where work has been stopped.
James Clark, managing director at Interpath and joint administrator, said: “2024 has been another challenging year for the building and construction industry, with house builders continuing to battle with the impact of rising raw material costs, wafer-thin margins and the impact of high interest rates and rising mortgage costs on consumers.
“While the Government’s planning reforms have given hope to many across the industry, unfortunately, the trading difficulties encountered by Camstead Homes proved too challenging to overcome.
“We appreciate news of the administration will cause a great deal of concern for those homeowners and residents of sites where development work remains underway. Our immediate priority is to work with key stakeholders to find alternative solutions which may enable work across these sites to be completed.
“In particular, we will be working with our appointed agents to market the Blackberry Walk site at Derwenthorpe. We are hopeful for significant interest from this process and would encourage parties interested in acquiring this site to make contact with us and our appointed agents, Watling Real Estate, at the earliest opportunity.”
The joint administrators have retained two members of staff to assist them while they explore options for the sites while the other 20 members of staff have been made redundant.
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