Thursday, Jan 24, 2008
More cancelled developments
Manchester Evening News: Jitters shatter £12m dream
A £12m development scheme in Manchester's "up-and-coming" Northern Quarter has fallen victim to the credit crunch. All the apartments, priced at between £140,000 and £180,000, were sold in advance of work starting on the site, and buy-to-let investors handed over deposits totalling more than £500,000. A question mark hangs over the future of the investors' deposits. They are likely to be repaid only if a buyer is found for the site. "It would be wrong to believe that CLH will be the last, or largest, property-related casualty of 2008."
Posted by drewster @ 08:27 PM (438 views) Add Comment
2 Comments
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1. enuii said...
Up and coming looks like it will be down and out, the last places to rise are usually the first to fall!
There will be more news like this before the financial year is out.
2. Spoony said...
Hahahahahahaahaha.