Beechwood's receivers, Deloitte, said yesterday that the business was sold for an undisclosed amount with all assets, including existing land, buildings, contracts and copyright.

It will be sold to Resibuildco, which will be funded by Cavasinni Constructions and the Cavasinni family.

The business will continue to trade as Beechwood.

Beechwood went into voluntary administration on May 13, leaving 360 consumers with their homes partly constructed and 580 others in limbo after paying deposits and buying plans.

A report from administrator Armstrong Wiley found the main factor in the building firm's collapse was its $43.8million involvement in a horse-breeding syndicate, Written Bloodstock.

Beechwood's new owner, Vic Cavasinni, said the purchase was a logical step towards expansion of his family business.

''We have and will continue to work closely with the Office of Fair Trading and the insurers Vero to work through the needs of individual home owners and complete their homes,'' he said.

All current Beechwood customers would receive information from the new owners shortly.

The new owners indicated they wished to continue using the tradespeople and suppliers previously used by Beechwood.

''Our first priorities will be to send a circular to all home owners to outline our plans for the new business and the next steps that will be taken,'' Mr Cavasinni said yesterday.

''We will also be continuing site inspections to review the construction status of each home.

''Understandably, it will take a little time to recommence construction and source the appropriate contractors and supplies, but we will look to do this as soon as possible.'' AAP