Developer in talks to take on raft of other schemes after Thornfield Properties鈥� parent goes into administration

Mixed-use developer Hammerson is set to take over the running of the controversial regeneration of Smithfield Market, after Thornfield Properties鈥� parent company went into administration last week.

A spokesperson for Hammerson confirmed that the body was in discussions with administrator Deloitte over taking on the Smithfield scheme, but said a specific role had not yet been decided.

In addition, Hammerson looks set to take on a raft of Thornfield鈥檚 other schemes following the collapse into administration of Thornfield Ventures, including developments in Hemel Hempstead, Winchester, Sunderland and Thornaby.

Smithfield Market

Kohn Pedersen Fox鈥檚 design for the Smithfield Market regeneration scheme

Last week Hammerson was appointed to take on Thornfield鈥檚 only scheme under construction, the 拢350m Rock scheme in Bury, with immediate effect. It will act as development manager and asset manager for the BDP-designed scheme, which is six months from completion. The spokesperson confirmed that contractor Laing O鈥橰ourke would remain in place to complete the job.

The holding company put into administration does not own any of the development assets. Consequently it is so far unclear whether any of the developments will need to be sold. Hammerson has not taken an equity stake in any of the schemes.

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