Castleoak Care Partnerships Ltd has ceased trading and been placed into liquidation, while its subsidiary Castleoak Offsite Manufacturing Ltd is likely to be sold.
The decision does not affect Castleoak Holdings Ltd or its subsidiary Castleoak Care Developments Ltd, with both companies continuing to trade as normal.
Castleoak Offsite Manufacturing, formerly Castleoak Timber Frame Ltd, was a manufacturer of timber frame for sale to Castleoak Care Partnerships for the construction of care homes and supported living properties for older people.
It opened its offsite manufacturing facility in 2008 to address the growing need for sustainable homes through timber frame and modern methods of construction. Following closure of its construction and manufacturing businesses, Castleoak will focus on its later living real estate development operation.
Paul Foster, Castleoak Group chair, told CM: ‘Castleoak is focusing on its later living development led delivery partner proposition and pulling out of construction delivery.
‘Holdings Limited and Castleoak Care Developments Limited are active business, but rather than the building works being contracted via Castleoak Care Partnerships Limited this will work will be done by other contractors.’
Castleoak has specialised in housing with care and care homes for more than 35 years. It has developed and built more than 200 care home projects and over 2,000 extra care units.