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HenryWeston

Worcester Property Developer Calls In The Receivers

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Just saw this in a local paper... the property market is doing well in worcester then!

POTENTIAL homebuyers and businesses looking for new offices have been urged not to be put off investing in property built by the Worcester tycoon Neil Grinnall.

As revealed in the Worcester News on Saturday, Mr Grinnall, responsible for many luxury city-centre apartments, has called the receivers into two of his businesses and is the process of winding down a third.

But accountants Moore Stephens, which is dealing with Neil Grinnall Properties Ltd and Neil Grinnall Classic Homes, said it remained "business as usual" with the sale of remaining properties.

Mark Bowen, a spokesman at the Birmingham-based firm, said: "There are still a number of domestic and commercial units to sell.

"The properties are very good and in fact just last month one of the Grinnall developments, at the former Kay's Catalogue offices in The Tything, won an award.

"K1, as it has been called, scooped the Birmingham Post & Mail House Design Awards.

"The companies suffered from the downturn in the property market and the fact we have been called in is no reflection on the goods."

The Worcester office of estate agent Knight Frank is selling 24 remaining homes in K1 and K2, Bath Road, and Hadzor in Droitwich.

He bought the grade II listed hall at the latter site for his own use, but has since sold it.

A Knight Frank spokesman said the properties are worth more than than £5.3m. It is not known how much the commercial units are worth.

Some apartments still need to be completed, but contractors are on site, now employed by the receivers.

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The first of many no doubt.

I'd like to know what developers are doing with the flats they are building near me. They certainly don't seem to be selling all of them. Several blocks locally are (very) slowly filling up - but if you look at nethouseprices only a few of them are sold (I know about the delay - some of these have been finished and occupied for 18 months but only (for example) 3 out of 8 seem to have been sold.

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K1, as it has been called, scooped the Birmingham Post & Mail House Design Awards.

Maybe the trophy was a figure of mocking gargoyle.

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Just saw this in a local paper... the property market is doing well in worcester then!

POTENTIAL homebuyers and businesses looking for new offices have been urged not to be put off investing in property built by the Worcester tycoon Neil Grinnall.

As revealed in the Worcester News on Saturday, Mr Grinnall, responsible for many luxury city-centre apartments, has called the receivers into two of his businesses and is the process of winding down a third.

But accountants Moore Stephens, which is dealing with Neil Grinnall Properties Ltd and Neil Grinnall Classic Homes, said it remained "business as usual" with the sale of remaining properties.

Mark Bowen, a spokesman at the Birmingham-based firm, said: "There are still a number of domestic and commercial units to sell.

"The properties are very good and in fact just last month one of the Grinnall developments, at the former Kay's Catalogue offices in The Tything, won an award.

"K1, as it has been called, scooped the Birmingham Post & Mail House Design Awards.

"The companies suffered from the downturn in the property market and the fact we have been called in is no reflection on the goods."

The Worcester office of estate agent Knight Frank is selling 24 remaining homes in K1 and K2, Bath Road, and Hadzor in Droitwich.

He bought the grade II listed hall at the latter site for his own use, but has since sold it.

A Knight Frank spokesman said the properties are worth more than than £5.3m. It is not known how much the commercial units are worth.

Some apartments still need to be completed, but contractors are on site, now employed by the receivers.

This is very interesting because an EA I know claims he knows Neil Grinnall and says that NG was telling everyone at the start of the year to stop asking stupid money for property. NG's developments were supposed to be more competitively priced than competitors as a result.. obvously not enough...

Full story here:

http://archive.thisisworcestershire.co.uk/...1/5/385308.html

Mind you, I drove round Hadzor Hall the other weekend - nice spot but bl**dy expensive for what you get.

Edited by isv

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I work in Worcester and view Neil G's property developments as a prime example of the sort of stainless steel hell-holes we are becoming innundated with in the area.

His bill boards have a hideous picture of a young couple enjoying a croissant and a 'coffee' whilst clearly having the time of their lives in one of Neil's boxes.

The one in Sidbury makes me feel ill just looking at it. It's vile.

Get a job Neil and leave Hadzor alone.

Cockney wide boy.

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I was warned about this at a pub quiz at the beginning of this year! i didnt post the developers name but i was warned that a developer in worcester was in debt, and i posted basic info on this forum! i was warned by somone on my pub quiz team who i believe knew somone who worked for him. It was obvious he was in trouble, the prices of his developments are astronomical and dont appear to sell on right move. According to the person on my team things just stopped selling, and he was left with lots of over priced properties that couldnt be reduced and mega debt....

http://www.housepricecrash.co.uk/forum/ind...wtopic=6026&hl=

I was told a rumor at a pub quiz night that the big local property developer where i live has run out of money and about to go tits up if things dont pick up.

non-FTBer asked me in Feb 2005 who the developer was, and i sent him a personal message..

Cheers.

Didnt want to post on the forum..... just a rumour

http://www.neilgrinnallhomes.co.uk

Remember folks annacdotes rule :P and these stories are out there beneath the surface being passed around by word of mouth...

On a further note his ads are vile, ever billboard poster has a picture of the larger than life developer in frount of this latest development looking down at you in a 'Im better than you' way! The guy used his development empire to get his picture blown up to 6ft and plastered all over worcester!

Edited by moosetea

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The Neil Grinall's Hadzor Hall development is a classic example of mid-00ies craziness. On paper an idyllic countryside location in the grounds of a stately home.

The reality is poorly built shoeboxes right on top of one another a stones throw from the M5 without the benefit of being easily able to get on the motorway.

I've been keeping my eye on one of the properties on the development. The Clock Tower, 4 Stable Court. The original marketing bumpf states:

The conversion of a substantial 220 year old stable block is set to be the jewel in the crown at Neil Grinnall Homes' flagship residential scheme at Hadzor Hall in Droitwich Spa.

'The Stables' consists of seven individual properties, each with there own front door onto the original landscaped courtyard. This unique collection of new homes represent the final release at the Grade II listed Hadzor Hall scheme, which is set in 54 acres of idyllic countryside. Constructed in the late 18th Century in the style of the Georgian era, the character rich conversions offer purchasers a rare opportunity to invest in a piece of history at one of Worcestershire's finest new residential addresses. The centrepiece of 'The Stables' is 'The Clock Tower' – a grand three-storey house totaling a substantial 1,954 sq ft.

The asking price was £440K. It sold new for £400K in Jul 04. It then changed hands in Aug 07 for £360K with a £40K loss.

In Jan 11 it went back on the market at £380K. After three price reductions it is now on sale at £325K. http://www.rightmove...y-17917029.html

Also worth noting is that the Neil Grinnall website is still live. It acts as a wonderful time capsule to times when the credit flowed easily. http://www.neilgrinnall.com/index.asp

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Loving the 7 year gap between posts. B)

looking at the 5th pic on the rightmove link i noticed the inside of the doors red whilst the outside is dark greenish, strange.

Edited by motch

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Loving the 7 year gap between posts. B)

looking at the 5th pic on the rightmove link i noticed the inside of the doors red whilst the outside is dark greenish, strange.

Read the thread and then your post, doh!

Odd though

Edited by frederico

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The Neil Grinall's Hadzor Hall development is a classic example of mid-00ies craziness. On paper an idyllic countryside location in the grounds of a stately home.

The reality is poorly built shoeboxes right on top of one another a stones throw from the M5 without the benefit of being easily able to get on the motorway.

I've been keeping my eye on one of the properties on the development. The Clock Tower, 4 Stable Court. The original marketing bumpf states:

The asking price was £440K. It sold new for £400K in Jul 04. It then changed hands in Aug 07 for £360K with a £40K loss.

In Jan 11 it went back on the market at £380K. After three price reductions it is now on sale at £325K. http://www.rightmove...y-17917029.html

Also worth noting is that the Neil Grinnall website is still live. It acts as a wonderful time capsule to times when the credit flowed easily. http://www.neilgrinnall.com/index.asp

Would be frustrating if you needed the M5 all the time and so near yet so far. Not too bad going north, but soon get peed off going south.

Love the lookout tower in the top room. Thinking of putting an offer in at somepoint ?

Edited by motch

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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