All machinery and equipment owned by a “major modular building manufacturer” will be auctioned off over the next week.
Asset disposal specialist BPI listed 740 items that appear to have come from modular specialist TopHat, which last month announced an “orderly wind down of volumetric operations”.
Photos of equipment for sale appear to reveal the company’s logo, while BPI said collections were from the DE65 postcode in the East Midlands where the firm is based.
Lots range from a heavy duty tele handling reach stacker to a batch of 75mm wall clips. They are part of an online bidding process that closes on Friday 15 November.
Nathan Burnham, key account manager at the disposal company, said: “This is an extraordinary opportunity for anyone in the modular building and construction sectors to acquire high-quality equipment, tools and raw materials at competitive prices.
“The range and quality of items make this auction unmissable for anyone looking to enhance their operational efficiency or expand their production capabilities.”
Bids placed so far include £50,400 for a Liebherr LRS 545 tele handling reach stacker with a 44-tonne capacity and an adjustable lifting frame.
An offer of £1,255 has been made for a complete one-bedroom home that sits in two parts in the factory awaiting plumbing and cladding.
A Hyster diesel counterbalance forklift is currently going for £3,025 while the price of a taping and jointing tool set sits at £29.
According to TopHat’s latest accounts, for the year to 31 October 2022, it employed 212 people at its 11,600 square metre Derby factory.
The troubled firm posted a pre-tax loss of £5.1m in that period despite turnover almost doubling to £13.4m.
In February this year, the company launched a consultation over 70 potential job cuts, and in March it revealed it had paused plans for a new 60,000 square metre manufacturing site in the South Midlands due to “market conditions”.
That plant was planned to be seven times bigger than TopHat’s existing Derby site, and capable of creating a house every hour.
Homes England stood by the company as recently as last month.
“We are aware of TopHat’s current position and continue to support the business,” the government agency said in October.
“Despite the current challenging market conditions, housebuilders continue to invest in modern methods of construction in recognition of the vital role technology has to play in delivering more high-quality, energy-efficient homes at pace and scale.”
But the modular sector has had a torrid period.
In August, specialist ModPods International appointed administrators after spiralling relocation costs hit its bottom line.
Laing O’Rourke cut 60 jobs at its offsite factory in Nottinghamshire in January
Investor L&G wound down its offsite business in 2023 after years of heavy losses.
Modular specialist Urban Splash House entered administration in May 2022, blaming operating issues at its factory in Alfreton.
Other specialists including Ilke Homes, Mid Group, Eco Modular Buildings and Caledonian Modular have collapsed in recent years.
TopHat has been contacted for comment on the auction.
