Milestone Developments, a construction company owned by married couple Stuart and Nicola Jackson, has secured a deal with administrators Teneo to complete one project, which includes building 22 homes near Cove, Charleston. Additionally, the company has taken over another Stewart Milne project, Monarch’s Rise in Arbroath, with plans to complete 62 homes there.

The developments were among several left unfinished after Stewart Milne Group entered administration in January.

Milestone Developments, which is based in Ayrshire and founded in 2012, started work on-site at Cove around four weeks ago.

Stuart Jackson said: “Since starting work, the feedback has been very positive. We’ve managed to retain a lot of the contractors that were there and we’ve got former Stewart Milne site managers working with us.

“We’ve had some homeowners say they are delighted to see us on site and there’s activity again as it’s been sitting for eight months with nothing going on.

“Now we’ve got ourselves in a position where we’ve established ourselves in the north-east the next step will be to progress that. We are already looking for other opportunities.”

Teneo, the administrators of Stewart Milne Group, have chosen not to disclose details about the sale of individual sites. However, a spokesperson has confirmed that all eight partially completed sites have been sold.

The latest update from Teneo shows that numerous ordinary creditors, owed over £33 million, will not receive any compensation. The Bank of Scotland, which had security over the company’s property and assets, was owed approximately £108m when the company went into administration. Additionally, the HMRC is owed £1.7m.