A ‘luxury’ homes developer has had another one of its companies enter administration. Cliffedge 10 Newquay Limited is reportedly the fourth company within the Stephens & Stephens Group to go either into administration or liquidation in the past 12 months.
The apartment block has been under construction for a number of months but all work has now halted, according to CornwallLive.
A crane has been removed, and access to the site has been locked up while administrators take over the site.
Creditors at United Bank Trust Limited appointed Quantuma Advisory Limited to take over Cliffedge 10 Newquay on Monday.
Quantuma has previously been appointed as administrators by another bank, Paragon Banking Group, of two other Stephens & Stephens developments, in Newquay and Newlyn, CornwallLive also reported.
No 1 Pentire Newquay Ltd, which is behind the One Pentire apartments development overlooking Fistral beach, went into administration in May 2025.
This was followed months later by Arcady Heights Limited, the company behind the High Tide housing development for the five luxury homes in Newlyn.
Administrators at Quantuma confirmed their latest appointment and the takeover of the Cliff Edge 2 project.
They told CornwallLive it was at an early stage, but they would again survey the whole building before deciding on the next steps.
The administration confirmation is expected to appear on Companies House in the coming days.
Stephens & Stephens is run by husband and wife Paul and Helen Stephens and is based in Truro.
The Stephens & Stephens holding company, Stephens & Stephens Group Ltd, is also reportedly at risk of going into liquidation after HMRC filed a winding-up petition against the business in the High Court of Justice (Chancery Division) in October last year.
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