FRP Advisory appointed as developer enters administration

FRP Advisory has been appointed as administrators at a developer that just months ago completed a major housing project in Dundee.

Tor Homes bought the former Eastern Primary School in 2013 and turned the A-listed Broughty Ferry building into 27 luxury apartments which it named Eastern Residences.

The project was stalled after original contractors Muirfield Contracts itself fell into administration in 2015, only to be taken over by Hadden Construction later that year.

Now The Courier has reported that the firm, which is registered in Edinburgh but lists its principal trading address as Eastern Residences, was put into administration on February 13.

Administrators said an “ongoing contractual dispute resulted in trading and cash flow problems” and led to Tor Homes going into administration.

The company completed the Eastern Residences last August, with Thorntons Property acting as selling agent.

Administrators said that Thorntons was still acting as agents for three of the apartments, with 24 now purchased.

Tor Homes was only incorporated as a company in September 2013, when development of the former school began.

The firm’s directors are listed with Companies House as Bruce Weir and Paul Millian, who each had a 50 per cent share in the business.

Tor’s website lists details of “future developments”, including a project in Inverkeithing and “luxurious three and four-bedroom family homes in Dunfermline”.

A spokesman for administrators FRP Advisory said: “We can confirm that Tom MacLennan and Iain Fraser, partners with FRP Advisory, were appointed joint administrators of Tor Homes (Scotland) Limited on February 13.

“The company had converted a grade-A listed former school building in Broughty Ferry into 27 high-quality apartments.

“Twenty-four of the apartments in the development have been sold, with the remaining three currently for sale with Thorntons Property Services.

“There were no employees and therefore no redundancies.

“An ongoing contractual dispute resulted in trading and cash flow problems which led to the appointment of the joint administrators.”