Receivers appointed to Tyrone developer’s Washing Bay Road land

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Receivers have been appointed to take control of land on Washing Bay Road, owned by Tyrone developer Sperrin Homes Contractors Ltd.

The Cranagh company’s properties in Loughmacrory and Derry have also been appointed receivers by Ulster Bank.

Sperrin Homes Contractors Ltd last filed accounts for the year ending in March 2009, which showed its liabilities exceeded its assets by £375,000.

The March 2009 accounts also suggested Ulster Bank was owed around £7m.

The company is unrelated to County Derry company Sperrin Homes, which continues to trade normally.

Six sites at the Victoria Gate development in Derry are among the assets placed into receivership. This scheme is controlled by another builder, who has sold individual sites at the development.