Housebuilders are expecting chunks of Swan Hill's land bank to be sold off in the coming months after attempts to sell the Middlesex-based firm to British Land broke down. Swan Hill was bought last December by Raven Mount, a cash shell listed on the Alternative Investment Market led by Anton Bilton, who tried to auction the business off at a premium. Housebuilders that looked at the business were thought to be put off by a deficit in Swan Hill's pension fund that prospective bidders estimate at between £10 million and £30 million. One bidder said: "The problem is that the fund is still paying pensions for people that used to work for the Higgs & Hill contracting operation even though this was sold by Swan Hill years ago."