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Property Developer Enters Administration

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Thanks, debtmonkey -- that's very interesting! One of their developments is on Alumhurst Road in Westbourne (large block of flats, as you say) -- I will give it a closer look next time I am passing.

I was walking along Banks Road yesterday (the neck of Sandbanks peninsula) and saw a sign advertising a double plot for sale, with planning permission and party wall consent for a huge house (indoor swimming pool, self-contained flat, etc). It looks like the developer has got quite a long way with the project and then got cold feet or run out of funds (doesn't say who the developer is on the board, of course!). I don't remember seeing anything like that before on Sandbanks ('the fourth most expensive real estate it the world' -- or so the local agents and developers like to say), and it made me think that local developers are in for a hard time. People like to say that somewhere like Sandbanks won't fall whatever happens to the market, but it did last time, and it obviously will again this time.


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I play golf with a guy who owns a plastering contractors firm and he is down £10k to a bloke who build 40 flats in Bournemouth and did not sell one, he has obviously gone bust, although I am not sure if this is the same firm that the article refers to.

He also was talking about another builder going into administration and the receivers had the cheek to try and get £1500 of Plasterboard of his into their development, from his lorry.

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  • 442 Brexit, House prices and Summer 2020

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