Innovate Holdings in administration

Commercial developer Innovate Holdings has gone into administration.

The group, which also contains a number of logistics subsidiaries, reported a £112m turnover in 2006. Its development operations generated £71m of that figure.

Among Innovate's developments was the green Innovate Office at Thorpe Park in Leeds, a 4,180m2 which was claimed to have the highest BREEAM assessment achieved by any building in the UK at the time.

BDO Stoy Hayward has been appointed administrator for Innovate Holdings, Innovate Logistics, Innovate Rail, Innovate Property, Innovate Office, Innovate Corby Chilled Distribution,  Corby Chilled Distribution (Scotland), Innovate HQ, and Innovate Phil Hanley.