Privately funded investment vehicle SVELLA Plc has agreed a deal with Brooklyn Ellis Limited which will see the completion of a high-end residential development in Derbyshire.
The site at Park Farm in the village of Etwall, originally a joint venture between design and build development company Brooklyn Ellis and nmcn Plc, has been on hold since early October 2021 when nmcn entered administration.
In the intervening two months, SVELLA has worked closely with the joint administrators to acquire nmcn’s interest and obligations in relation to the joint venture agreement.
The deal will allow the outstanding landscaping and internal finishing works to be completed efficiently and the remaining plots to be released to the market, ahead of an open weekend in early February 2022.
Andrew Tinkler, SVELLA chairman, said: “We are delighted to be involved in this joint venture with Brooklyn Ellis. Park Farm is a high-quality scheme comprising seven bespoke barn conversions situated within the highly sought-after village of Etwall. We look forward to successfully completing the scheme and offering to market these tastefully designed and beautifully converted homes.”
Sarah Naden, director of Brooklyn Ellis, said: “We are really looking forward to getting this development completed after a period of uncertainty. It is very exciting to be able to plan the launch of phase two to the market knowing that, with the support of SVELLA, we can finally deliver a scheme which we are all proud of.”
In October 2021, SVELLA acquired the telecoms, plant hire, transport and accommodation business divisions of nmcn Plc out of administration, creating Svella Connect, Svella Asset Services and securing over 680 jobs.