ADMINISTRATORS at Inland Homes have been given an extra year to tackle the finances of the struggling property developer. 

The Buckinghamshire-based developer was tasked with building 161 BCP Council-funded homes at Carter's Quay in Hamworthy. 

But because the land was bought by Inland Homes in November 2021 for £9.9m, the site has been empty and inactive since it went into administration a year ago. 

Joint administrators David Hudson and Philip Armstrong, of FRP Advisory Trading, have extended the administration period until October 3, 2025 with the consent of Inland Homes creditors. 

A contract signed between BCP Council and Inland Partnerships Ltd (part of Inland Homes) means the council’s right to take possession of the land is secured. 

Currently, the local authority has paid £15m to Inland Homes to complete work as part of the £43.5m project. 

Several jobs were completed before the administration period started, BCP Council said, which includes £6.75m of the £15m paid. 

The homes were anticipated to be completed by the end of 2024, but concern was raised in August 2023 about the apparent lack of progress on the site over the past few months prior.