United Auctions has said that its operations at Stirling market will be unaffected by the appointment of administrators at Elphinstone Estates, which owns the Stirling site.

“It is true the site here at Stirling is owned by Elphinstone Land. However, we as United Auctions have a long-term lease of the site, so there will be no change to the mart’s activities. We own all our other mart sites, so none of those are affected by this news,” said David Leggat, executive chairman of United Auctions

Blair Nimmo and Gary Fraser of KPMG were appointed administrators at land developer Elphinstone on 24 September at the request of the company’s directors.

An NFU Scotland spokesman added: “We have spoken to UA and we are reassured that Elphinstone, a property company, has no financial connection to the UA group other than that they received rent from UA.”