The latest update from administrators Teneo Financial Advisory shows that land parcels held by subsidiaries SMH Arbroath and SMH Kirkton have been offloaded following direct approaches from interested buyers. Administrators say further residual sites are still being marketed “where sales will generate an economic benefit for the estate”.

SMG fell into administration in January 2024, leaving behind a debt pile of £40.3 million owed to contractors, suppliers, customers and staff. Bank of Scotland, originally owed £107.9m, has seen its claim rise to £115m with interest, though it has received a £10.4m repayment. Unsecured creditors have been told they will not receive any return.

Teneo has already sold the group’s partly completed housing developments and continues to dispose of remaining assets. The administration is expected to run for at least another year, with an extension granted until January 7, 2027.

The report also confirms progress on selling freeholds linked to long‑leasehold homes in England. SMGL retains around 380 such freeholds; 50 have been sold to leaseholders so far, with another 64 currently in legal stages.

One subsidiary, SMH Auchterarder, is now moving from administration to dissolution, with Companies House notified. Dissolution will take effect three months after the notice is registered.

Professional fees remain substantial, with Teneo charging just under £1m for the six‑month period from July 2024 to January 2025, following a slightly higher total in the previous reporting period.