The joint administrators of Elements Europe have sold the company’s stalled site in Hackney east London to Korean-owned GS E&C Corp.

Offsite construction specialist Elements Europe went into administration earlier this month after moving into main contracting alongside its core skills of room modules and bathroom pods.

The Company was the main contractor for the East Road Project in Hackney and the Camp Hill Project in Birmingham.

The sale will enable work to resume at the East Road which will be home to a 21-storey hotel and office development.

Sam Birchall, managing director at Interpath and joint administrator said: “Having paused the East Road Project following our appointment, we are pleased to have reached this agreement which paves the way for the completion of the development, and importantly gives a route forward for GS, the employer and the company’s skilled subcontractor base to return to site in short order.”

Steve Absolom, managing director at Interpath and joint administrator, added: “We’d like to express our sincere thanks to the key stakeholders involved in the project as well as the dedicated workforce for their understanding, patience and support in the days following our appointment.

“A representative from the GS E&C Corp. will be in touch with the subcontractors involved in due course with details of next steps.”

The joint administrators continue to explore options relating to the company’s other projects, including the Camp Hill Project in Birmingham.