Sunday, March 16, 2008
Summary of muppets being turned over by property investment club.
All 49 flats in this block in Manchester are owned by amateur investors - 37 of them thanks to one property club. Now it is feared that their value has slumped by HALF - or worse - in four years. "two-bedroom flats it said were worth £140,000 and likely to attract up to £650 a month in rent. It is not known what the properties are worth today, but a two-bedroom flat in the development failed to sell at auction in December for a guide price of £70,000. The flat is now let for £425 a month."