700-Home Eastbourne SPV enters administration

The special purpose vehicle behind one of Eastbourne’s largest proposed housing schemes has entered administration after a planned refinance collapsed, placing a strategically located 700 home development site into the hands of insolvency practitioners.

Milan Vuceljic and Michael Solomons of Moorfields Advisory were appointed as joint administrators of Tarn (Mornings Mill) Limited, an SPV connected to regional housebuilder Tarn Homes, on 11 February 2026. The company was incorporated to oversee the Mornings Mill development in Willingdon, East Sussex, and holds a significant residential site in the Eastbourne area.

According to Tarn Homes, the decision to place the SPV into administration followed the failure of a refinance agreement that was intended to fund the commencement of construction. The refinancing reportedly fell through after a key stakeholder became seriously ill, disrupting the transaction at a critical stage.

Planning and reserved matters are currently being progressed for approximately 700 new homes, positioning the site as one of the most significant live schemes in the Eastbourne pipeline.