No ‘financial concerns’ for Bassetlaw housing development company

Madison Court, a 26-home development on Common Lane, Harworth, is estimated to be completed in February 2023 by housing development company Bersahill, which is owned in equal shares by Bassetlaw council and Woodhead Regeneration.

Last week, directors of Robert Woodhead, the parent company of Woodhead Regeneration, confirmed it would not continue to trade after experiencing ‘cash flow challenges’.

However, the council has stated Bersahill has not reported any ‘financial concerns’ to the authority and continues to trade.

A council spokesman said: “The council is an equal share owner of housing development company Bersahill, in partnership with Woodhead Regeneration Ltd, which continues to trade and has not reported any financial concerns to the council.

“Bersahill’s current and only project is to build and sell 26 homes at the Madison Court development in Harworth.

“Robert Woodhead Ltd (Woodhead Construction), the principle contractor for the Madison Court development has ceased trading, citing spiralling costs and fixed price contracts.

“Bersahill is currently developing plans to continue the build programme at the Madison Court site.

“We understand the uncertainty and difficulties that have been caused by the financial situation of Robert Woodhead Ltd and have sympathy for all parties who have been affected by these developments so far.”

Robert Woodhead was in its 76th year of trade when it announced its sudden closure, which is thought to have impacted about 120 staff members.