Property development firm Enzo's Homes put into liquidation

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Property development firm Enzo’s Homes put into liquidation

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

Stephen Goderski and Oliver Collinge of PKF Littlejohn Advisory have been appointed joint liquidators to the company. At this stage they said it was too early to say what creditors are 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.

Enzo’ 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 176-year-old giant redwood tree to make way for a 80 new homes residential scheme for Enzo’s Homes at the Penllergaer Estate in Swansea.

Last year Enzo’s Homes abandoned plans for a residential scheme north of Swansea at Pontlliw for a 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, expects 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.”