bellatq Posted October 26, 2009 Share Posted October 26, 2009 Does anyone know why no one has yet moved in to the completed apartments in TQ? Quote Link to comment Share on other sites More sharing options...
Malthus Posted October 27, 2009 Share Posted October 27, 2009 Does anyone know why no one has yet moved in to the completed apartments in TQ? Lack of payment I would have thought Has anyone heard how the legal action is progressing ? Quote Link to comment Share on other sites More sharing options...
Belfast Boy Posted October 27, 2009 Share Posted October 27, 2009 (edited) Does anyone know why no one has yet moved in to the completed apartments in TQ? It does appear that a stag night may have stayed there... Trip Advisor I had a phone call the night before to say we could no longer stay at this apartment as the room had been trashed by a stag party!? Edited October 27, 2009 by Belfast Boy Quote Link to comment Share on other sites More sharing options...
R + R Posted November 13, 2009 Share Posted November 13, 2009 come on lads pay up harcourt in the red to the tune of 688 mill! http://www.irishtimes.com/newspaper/finance/2009/1113/1224258725008.html rock on! Quote Link to comment Share on other sites More sharing options...
Malthus Posted November 13, 2009 Share Posted November 13, 2009 A contact confirmed today the rumour that the last two block are being weatherproofed and will only be completed when the market picks up Guess all the talk of recovery , green shoots etc was beaulocks Quote Link to comment Share on other sites More sharing options...
R + R Posted November 13, 2009 Share Posted November 13, 2009 A contact confirmed today the rumour that the last two block are being weatherproofed and will only be completed when the market picks up Guess all the talk of recovery , green shoots etc was beaulocks be carefull with them bullocks as david d found out to his cost especially the wifes! http://www.telegraph.co.uk/culture/tvandradio/6551629/David-Dimbleby-in-hospital-after-bullock-knocks-him-out.html rock on! Quote Link to comment Share on other sites More sharing options...
azogar Posted November 13, 2009 Share Posted November 13, 2009 be carefull with them bullocks as david d found out to his cost especially the wifes! http://www.telegraph.co.uk/culture/tvandradio/6551629/David-Dimbleby-in-hospital-after-bullock-knocks-him-out.html rock on! Funny the way things go - last nights QT was far better with yer r4 man at the helm A case of bovine intervention! Quote Link to comment Share on other sites More sharing options...
R + R Posted November 13, 2009 Share Posted November 13, 2009 Funny the way things go - last nights QT was far better with yer r4 man at the helm A case of bovine intervention! imho dd gone soft both on air and off now if he had been a mullingar man he would have carried on regardless and uttered those immortal words poses the question has the ipod generation gone soft too? rock on! Quote Link to comment Share on other sites More sharing options...
paul65 Posted December 2, 2009 Share Posted December 2, 2009 (edited) This topic has been quiet for a while. Looks like it is about to kick off again now though thanks to this Bel Tel article: Apartments discount offer is rejected by buyers’ group Looks like hardball is being played by the developer: Titanic Quarter Limited has met some buyers who have not completed and made two offers — a 10% discount if buyers complete and pay up before the end of the year, or a temporary 20% discount which would be paid back. Looks like no other offers will be forthcoming then apart from the offer to go to court. In a letter from estate agent BTW Cairns seen by the Belfast Telegraph, buyers have been told to meet the estate agent within seven days or Titanic Quarter Limited “will have no alternative but to commence legal proceedings against you”. Edited December 2, 2009 by paul65 Quote Link to comment Share on other sites More sharing options...
getdoon_weebobby Posted December 8, 2009 Share Posted December 8, 2009 (edited) landmark ruling on off plan. looks like a contract is a contract! http://www.thisisplymouth.co.uk/news/Developer-wins-163-133-000-landmark-ruling-flats/article-1586084-detail/article.html Developer wins £133,000 in landmark ruling on flats Tuesday, December 08, 2009, 07:0019 readers have commented on this story. Click here to read their views. THE owner of the city centre's £12million Zero 4 apartment block has won a landmark court case against one of the people who reneged on buying flats. The High Court, in Bristol, has ordered the person to pay a whopping £133,282 in damages, costs and interest to Plymouth's Prestige Homes South West Ltd, after pulling out of a deal to buy two Zero 4 flats. That person will have already lost a deposit, and does not have the flats any more because the contract was rescinded. Prestige Homes, part of the London and Westcountry Estates Group, said the result was only what it had been expecting. It is also dealing with about another 20 people who backed out of deals after buying off-plan. They are among about 30 people who initially paid deposits, on 54 flats, but tried to walk away when property prices started to tumble in mid 2008. Some people came to an agreement with the firm, but others are being sued. London and Westcountry Estates finance director Matthew Hockin said another eight cases are on course for a court hearing in February. But he said that, although cases can differ, the recent High Court decision sets a precedent. "We have had several telephone calls to arrange a meeting for a settlement figure," he said. "We are trying to settle amicably. If they can settle it's in their interest. We don't want to go to court for anyone." The Herald revealed in July 2008 how purchasers were getting cold feet and trying to pull out of contracts at the nine-storey Zero 4 tower in The Crescent. The contracts should have been completed in June and when this did not happen it cost Prestige Homes cash. Mr Hockin said the firm would never have started work on the building had it not first bagged 55 exchanged contracts. He said the firm was going to court to secure 'loss in value from (the deals) not completing. "We had to keep (the apartments), relet them and refinance. "The cash we were expecting last summer did not arrive. We had to go through the court route to protect our position. "A lot of people think you can lose your deposit and walk away. But once you have exchanged contracts you are obliged to complete. For them to walk away is unreasonable. "We have been watching other cases, and the court has found in favour of the developers." Mr Hockin said that many people made money when the property market was rising and should have 'bitten the bullet' when it fell. He said they could have rented out the flats and 'waited for the market to come back'. Prestige Homes has let most of the flats in Zero 4, after selling just 18. Only nine remain empty, which Mr Hockin said gives the building a 91 per cent occupancy rate. He said the building was virtually completed now, with just some 'cosmetic' work to be done, and a 'couple of penthouses to finish' Edited December 8, 2009 by getdoon_weebobby Quote Link to comment Share on other sites More sharing options...
subby Posted December 9, 2009 Share Posted December 9, 2009 that's a massive result for the developer, wonder what sort of precedent that could set? NI has a different legal setup so not sure if it's relevant but interesting to read anyway WB Quote Link to comment Share on other sites More sharing options...
2buyornot2buy Posted December 9, 2009 Share Posted December 9, 2009 (edited) Did anyone really expect any other result? It's basic contract law. Still I expect there is still much further to go with this and a lot will be decided on a case by case basis. If I purchased one of these apartments I would be getting rather nervous. Still it looks as if building has virtually stopped on all these waterfront developments, it might be possible for buyers in later phases to argue unreasonable delays. Some of the other cores of Titanic must be long overdue. Has anyone even completed? What are the banks on? Surely they must be after their money? Edited December 9, 2009 by 2buyornot2buy Quote Link to comment Share on other sites More sharing options...
subby Posted December 9, 2009 Share Posted December 9, 2009 (edited) I know harcourt are having money troubles, it was documented previously that either them, or their parent company were struggling for cash http://www.irishtimes.com/newspaper/finance/2009/1113/1224258725008.html Edited December 9, 2009 by subby Quote Link to comment Share on other sites More sharing options...
subby Posted December 9, 2009 Share Posted December 9, 2009 http://www.irishtimes.com/newspaper/finance/2009/1113/1224258725008.html Quote Link to comment Share on other sites More sharing options...
SPADER Posted December 9, 2009 Share Posted December 9, 2009 that's a massive result for the developer, wonder what sort of precedent that could set? NI has a different legal setup so not sure if it's relevant but interesting to read anyway WB It won't set any precedent as its basic contract law, applicable whether in England, Northern ireland or the moon! Quote Link to comment Share on other sites More sharing options...
titanicdev Posted January 7, 2010 Author Share Posted January 7, 2010 It won't set any precedent as its basic contract law, applicable whether in England, Northern ireland or the moon! So what is happening now guys, what happen to those in phase 1? Updates please! Quote Link to comment Share on other sites More sharing options...
subby Posted January 9, 2010 Share Posted January 9, 2010 nothing really has been posted on the TQ site in a while....very quiet Quote Link to comment Share on other sites More sharing options...
paul65 Posted January 10, 2010 Share Posted January 10, 2010 (edited) nothing really has been posted on the TQ site in a while....very quiet This has nothing to do with completions but I thought that the following info gleaned from Slugger O'Toole quite interesting: "According to the Irish News today, the other developer in the Iris Robinson case (Ken Campbell) was appointed to the board of titanic quarter developments on the recommendation of the MP for the area, no less than Peter Robinson himself". Full membership of the board is here: http://www.titanic-quarter.com/items/mediaroom/presspack/tql_board_information.pdf Edited January 10, 2010 by paul65 Quote Link to comment Share on other sites More sharing options...
titanicdev Posted January 18, 2010 Author Share Posted January 18, 2010 http://www.belfasttelegraph.co.uk/news/local-national/apartments-discount-offer-is-rejected-by-buyersrsquo-group-14582842.html Anyone aware of this? Quote Link to comment Share on other sites More sharing options...
titanicdev Posted January 18, 2010 Author Share Posted January 18, 2010 http://www.guardian.co.uk/society/2009/jan/26/regeneration-titanic-quarter-property-development Quote Link to comment Share on other sites More sharing options...
TitQregrets Posted February 11, 2010 Share Posted February 11, 2010 Seems like another blow: Belfast flat buyers to pay developer for lost value http://news.bbc.co.uk/1/hi/northern_ireland/8511185.stm Quote Link to comment Share on other sites More sharing options...
talksalot81 Posted February 11, 2010 Share Posted February 11, 2010 I heard about the rejection of the discount. For the developer, that probably was a win-win offer. If the buyers could not afford full price, as many on here have detailled many times, they almost certainly wouldnt be able to find a slightly discounted price. The reality was that huge drops would be needed. So the buyers most likely could not accept the offer so that makes them seem greedy to the public and the developer is looking like the good guy since he is trying to come to an agreement. In light of the news story today, I really wonder about anyone trying to take matters further. The situation has been tested. If you signed, you pay. End of story. If you cannot pay outright, you will be sued for the difference between what you offered and what is actually achieved. I hate to say it, but the long term posters called this at the start and it was always hard to see what alternative there would be. Quote Link to comment Share on other sites More sharing options...
subby Posted February 12, 2010 Share Posted February 12, 2010 I'm concerned for some people who want to complete but can't get the mortgage to complete. Are they now going to be forced to pay up...sell one home to pay for another one? Bankruptcy on the cards. Really sucks for some of them Quote Link to comment Share on other sites More sharing options...
Malthus Posted March 1, 2010 Share Posted March 1, 2010 Any update on TQ ? I know they were only built for the purpose of speculation but surely at some point someone will have to move in Quote Link to comment Share on other sites More sharing options...
subby Posted March 2, 2010 Share Posted March 2, 2010 not really, the TQ forum has gone very quiet. Only one person having any luck with getting out of the contract iirc Quote Link to comment Share on other sites More sharing options...
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