A receiver has been appointed to a builder acting as the main contractor for the Ivan Yates-linked property development firm behind a large-scale housing scheme in Midleton, Co Cork.
Ingram Homes, where the broadcaster and former Fine Gael minister is listed as a director, is understood to be replacing the construction company, BPH Construction, after it entered receivership this week. Ingram remains focused on building the first 40 homes, the delivery of which, Mr Yates told The Irish Times this week, will not be affected by the contractor’s situation.
The businessman said he had no further comment on the matter.
A receiver was appointed to BPH Construction, which also trades as Blueprint Homes, this week over a loan charge secured against all of the company’s assets and property less than a month ago, according to Companies Registration Office (CRO) filings.
The directors and co-owners of the company are listed in CRO documents as Stephen Quinn and Gina Quinn, with a shared address in Rostellan, Co Cork.
BPH could not be reached for comment this week.
The loan charge is held by one Lorcan Gaffney who moved this week to have Midleton, Co Cork accountant Gerard Murphy appointed as a receiver to the company.
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Solicitors for Mr Gaffney have been approached for comment.
The debt is said to be unrelated to the Water Rock Manor scheme in Midleton, Co Cork, that Ingram Homes is in the process of delivering.
Ingram, where Mr Yates is listed as a director, received planning permission in 2022 to deliver 400 homes on the site. The Sunday Times subsequently reported in December 2024 that there would be 151 homes built, with prices ranging from €460,000 for a three-bed to €500,000 for a four-bed.
In January, Cork County Council granted Ingram Homes permission to amend certain aspects of its original application for the scheme. Among other things, the company increased the floor space at two units, reducing the number of storeys for some units from 2.5 to two and changing some of the units from terraced to semidetached houses.
Also listed as directors of Ingram are Cyril Barden and David Barden, who are also behind the UK-based engineering consultancy Barden Chapman.
In 2017, before Mr Yates became a director of Ingram Homes, the company also received permission to build some 92 homes in nearby Killeagh in east Cork.
A company called Mortimer We’re Back, of which Mr Yates is also a director, submitted an amended application to the council related to the site in 2021. Mr Quinn was listed as holding a 33 per cent stake in Mortimer We’re Back in its most recent annual return, filed with the CRO in January.
BPH, meanwhile, is understood to be involved to some degree in other large developments around Co Cork. Incorporated in 2007, the company had accumulated profits of more than €1.7 million at the end of June 2023, according to its most recently available set of accounts, employing some 27 people.
BPH owed some €2.9 million to its creditors at the time, including almost €2.3 million to trade creditors.
