One of Wales’ leading residential property developers, Enzo’s Homes, has collapsed. The Cross Hands-based business has entered compulsory liquidation.

Stephen Goderski and Oliver Collinge, of PKF Littlejohn Advisory, have been appointed joint liquidators to the company, which was once fined heavily for cutting down a 176-year-old giant redwood tree at one of its housing development sites. At this stage they said it was too early to say what creditors were owed and what return they could receive from the selling of assets.

However, the liquidators are now marketing a four acre industrial development near Swansea which was owned by Enzo’s Homes. The development, the name of which has not been disclosed, has a number of tenants. With a rental income the development could attract interest from investors looking to acquire the freehold interest. Read the biggest stories in Wales first by signing up to our daily newsletter here

Founder of Enzo’s Homes Fiorenzo Sauro (Image: WALES NEWS SERVICE)

Enzo’s Homes, which had been trading for nearly 13 years, had developed a number of residential schemes across Wales, as well as in England. Its latest published accounts lodged with Companies House, for its financial year to the end of March, 2024, showed it had net assets of £1.6m. The business was set by Fiorenzo Sauro, who has a number of other business interests.

He and his company were fined £300,000 (later reduced to £100,000 on appeal) in 2021 after a contractor mistakenly felled a giant redwood to make way for an 80-homes residential scheme at the Penllergare Estate in Swansea.

The giant redwood at Penllergare before it was felled

Last year Enzo’s Homes abandoned plans for a residential scheme north of Swansea at Pontlliw for one hundred three to four-bedroom homes. At the time the company cited viability issues for withdrawing plans for the proposed development

Mr Goderski, partner at PKF Littlejohn Advisory, said he expected significant interest in the industrial site. He said: “The freehold site is currently fully let to three diverse regional tenants. At just over four acres, split across warehouses and modular offices, the site presents a fantastic opportunity.

“Enzo’s Homes traded for nearly thirteen years prior to its liquidation. We will be engaging with all relevant stakeholders to maximise the return to creditors.”