The future of an affordable housing development in the Angus village of Newtyle has been left in limbo after housebuilder Hadden was plunged into administration.
Houses remain partially finished on the site which sits off North Street in Newtyle, a village around 10 miles north of Dundee.
Hadden Construction was placed in the hands of administrators Alvarez & Marsal earlier this week, who confirmed 66 jobs had been immediately lost.
The Perthshire firm had been contracted to build a £1.9 million development in Newtyle, providing affordable homes on behalf of Abertay Housing Association.
Ten new one, two and three bedroomed semi-detached and cottage flat style homes were under construction.
All works however have been forced to stop at Hadden sites across Scotland, including the Newtyle development.
Abertay Housing Association said they would be “proactively engaged” with the administrators to make sure the houses were finished.
Affordable Newtyle houses left in limbo
Hadden Construction was forced to bring in administrators earlier this week.
This is despite posting profits of more than £260,000 in 2023 and a pre-tax profit of more than £660,000 the year before.
Barry Moore, Abertay Housing Association chief executive, said: “One thing is certain, there is never anything good about these unfortunate situations and they are generally a reflection of very challenging, difficult and demanding financial times.
“The Association’s thoughts are with the members of staff at Hadden that will be unemployed as a consequence of this, for there is never a good time to be unemployed, but there is certainly a bad time.
“We wish them all well with regard to future employment.
“The site is well established and the Association will proactively engage with the administrators with a view and objective of delivering the much needed affordable homes.”
Hadden in administration
The cost of materials, wages and “supply chain interruptions” has been blamed for Hadden’s collapse.
Ben Cairns, managing director at Alvarez & Marsal, said earlier this week: “Like other contractors, Hadden Construction has been battling a number of headwinds in recent years, including inflated materials prices, rising labour costs and supply chain interruptions.”
A student housing development in Stirling was also underway when the firm announced its administration.
The company had also been appointed as a minor works contractor for Perth and Kinross Council.
Hadden Construction was founded in 1992 by Scott Hadden, Ronnie Horne and Murray Stewart.
From an initial capital investment of just £10,000, the firm says it has grown to be Perthshire’s largest headquartered main contractor.
Formed originally in Crieff, the company moved to Aberuthven in 2000.
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