Patton Group administrator puts former HQ up for sale
- 8 February 2013
- From the section Northern Ireland
The administrator of the Patton group has put the company's former HQ up for sale with an £800,000 price tag.
The County Antrim-based construction firm collapsed in November 2012 costing creditors more than £60m.
Patton occupied an entire building at the Woodside industrial estate on the outskirts of Ballymena.
The administrator is also selling a variety of other properties including a development site on the Dublin Road in Belfast that is valued at £500,000.
The company's former workshops on the Raceview Road in Broughshane, County Antrim, have a price tag of £300,000 and come with more than 11 acres of agricultural land.
The Patton portfolio also includes almost seven acres of woodland, farmland in Bushmills and two houses on the Belmont Road in east Belfast.
The company came under pressure as part of the economic downturn and faced reduced activity levels and lower profit margins.
This was exacerbated when a customer entered administration without paying for work and a Patton subsidiary in England went bust.
This put the business under severe cash flow pressures and the directors were unable to raise new finance.