getdoon_weebobby Posted December 11, 2014 Share Posted December 11, 2014 (edited) 2 bed @ College Court - 55k at Alsopp auction http://www.propertypal.com/lot-246-510-college-central-college-avenue-belfast/303063 Edited December 12, 2014 by getdoon_weebobby Quote Link to comment Share on other sites More sharing options...
2buyornot2buy Posted December 12, 2014 Share Posted December 12, 2014 2 bed @ College Court - 55k at Alsopp auction http://www.propertypal.com/lot-246-510-college-central-college-avenue-belfast/303063 I think the vacant units in this place were bought up by a housing association recently. Quote Link to comment Share on other sites More sharing options...
2buyornot2buy Posted December 12, 2014 Share Posted December 12, 2014 Just to give a bit of an update on this one if anyone is interested. http://www.courtsni.gov.uk/en-GB/Judicial%20Decisions/PublishedByYear/Documents/2014/[2014]%20NICh%204/j_j_DEE8992Final.htm http://www.bbc.co.uk/news/uk-northern-ireland-12310172 The tactic of trying to force the developer to complete didn't work. Quote Link to comment Share on other sites More sharing options...
mmca22gr Posted December 17, 2014 Share Posted December 17, 2014 Just to give a bit of an update on this one if anyone is interested. http://www.courtsni.gov.uk/en-GB/Judicial%20Decisions/PublishedByYear/Documents/2014/[2014]%20NICh%204/j_j_DEE8992Final.htm http://www.bbc.co.uk/news/uk-northern-ireland-12310172 The tactic of trying to force the developer to complete didn't work. But it would have worked had he been ready, willing and able to perform in the first instance. If Mr Scullion, by end Nov 2008, had deposited the balance with his solicitor - an indication that he was ready, willing and able to complete - then he would have won his case. Quote Link to comment Share on other sites More sharing options...
2buyornot2buy Posted December 17, 2014 Share Posted December 17, 2014 (edited) But it would have worked had he been ready, willing and able to perform in the first instance. If Mr Scullion, by end Nov 2008, had deposited the balance with his solicitor - an indication that he was ready, willing and able to complete - then he would have won his case. Very true, it's an interesting test case. He couldn't prove he had the means to complete. An agreement in principle didn't work either. Edited December 17, 2014 by 2buyornot2buy Quote Link to comment Share on other sites More sharing options...
mmca22gr Posted December 17, 2014 Share Posted December 17, 2014 (edited) Very true, it's an interesting test case. He couldn't prove he had the means to complete. An agreement in principle didn't work either. I agree. It is the 'able' part of 'ready, willing and able' where the trouble begins!! The question: Had you deposited the cash with your solicitor for completion on 30th Nov then remove the cash on 1st Dec and issued proceedings for failure to complete the contract - would you have won? I'd say Yes but hard to magic up the £180k balance when you won't get a mortgage on a property that does not exist! Edited December 17, 2014 by mmca22gr Quote Link to comment Share on other sites More sharing options...
Whiteabbey Posted December 17, 2014 Share Posted December 17, 2014 2 bed @ College Court - 55k at Alsopp auction http://www.propertypal.com/lot-246-510-college-central-college-avenue-belfast/303063 Sold for £85k Quote Link to comment Share on other sites More sharing options...
Shotoflight Posted May 13, 2015 Share Posted May 13, 2015 College Court Central: Buyers lose High Court test case against developerhttp://www.bbc.co.uk/news/uk-northern-ireland-32723617 Six apartment buyers who failed to complete the purchase of city centre flats in Belfast have lost a High Court test case against the developer. Their lawyers argued contracts were breached when part of College Court Central was sold for social housing. More than 70 of the 117 flats have been sold or earmarked for social housing. The judge ruled the developer was entitled to sell to social housing associations and to be compensated over the buyers' failure to complete sales. Market crashedThe apartments in King Street were built during the height of Northern Ireland's housing boom and were originally priced at up to £190,000. Potential buyers paid deposits to secure the new homes, but when the property market crashed, some were unable to secure mortgages to complete the deals. The developer, Fernhill Properties (NI) Ltd, sued some purchasers over their failure to honour their contracts. In the test case, proceedings were issued against Henry and Ann McCambridge, one of a group of six defendant purchasers. At the centre of the action was the presence of social housing tenants within the building. The total award of damages will be assessed at a later stage. Quote Link to comment Share on other sites More sharing options...
JoeDavola Posted May 13, 2015 Share Posted May 13, 2015 200 grand for a flat in that block.....poor bastards....it's not the best block in town by a long shot from what I've heard... Quote Link to comment Share on other sites More sharing options...
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