Administrators are nearing the sale of land in Dumfries and Galloway that was set aside for a large holiday park. McAlister and Co were tasked with handling Apple Invest Ltd’s affairs after the company failed to settle debts exceeding £16 million. The company’s assets include a caravan park at Barnsoul near Shawhead and land at Barncrosh near Ringford, where plans for over 400 lodges were in place.
The council rejected the development application for insufficient information and both sites were put up for sale, valued at around £10 million in total. McAlister and Co received multiple offers for the sites with the highest bid accepted. Although there have been delays, the sale is expected to be finalised soon. The company’s creditors, including plot investors owed over £9 million, were misled into believing they had purchased specific land with lodges.
Debts now amount to nearly £18 million, triggering the prospect of additional claims. Once the sale concludes, the company is slated for liquidation, either through a voluntary process or compulsory winding up. No specific date has been set, but the aim is to complete the process before mid-June 2025.
In summary, the potential sale of the Dumfries and Galloway land earmarked for a holiday park is progressing under the administration of McAlister and Co. Despite challenges and delays, efforts are being made to settle outstanding debts and facilitate the liquidation of the company involved in the development project. The repercussions of this sale and liquidation process could impact various stakeholders involved in the venture.