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I have a couple of investor friends who have bought off plan on The New China Town development in Liverpool, 700+ apartments. The developer is North Point Global, they have just emailed my friends to say after exchange 12 months ago they are pulling out of all developments,
After doing some digging they are in trouble, the CEO is being accused of all kinds, the echo have done several stories.
The reason for my post is some agents are still marketing North Point Global developments.
Please be careful, if you need any further information message me.
Thanks for letting us know.Just out of interest - what's happening with the people's money they have scavenged so far? Is that being returned or are they declaring themselves bankrupt or something?Thanks.
I have been told monies should be returned as the exchange was subject to completion but haven't heard.
I'll update the thread when I hear
I have seen your interesting post. I am one of the UK investors and I have put 30% deposit down (£80k) for x2 flat at the new Chinatown développement. I have also received a letter saying that monies will be returned and then, now, according to the news on the internet, NPC is trying to get a new builder to take over.
I am completely unable to get any information from ANYONE to confirm what would be the outcome, not even their lawyer who has been quite rude to me: return of monies and take over by another builder?? Are you able to put me in the loop as I understand your friends have set up a investor's group/collective? Let me know if you need my mobile number or my email address?
Any info wild be grateful as I feel I am completely in the dark!!
I am working with people who are trying to get the council suspended due to their negligence, by failing you in your investment, by allowing NPG to take on the China Town project. Please contact me via email on firstname.lastname@example.org.
Our understanding is that the investors may not get their money back which is why your solicitor is being funny with you. We are presently trying to contact people anywhere in the world about investment in Liverpool to set up a help group where everyone can go then be put into their own area. Presently we have China Town, Baltic House, North Point Pall Mall, The Paramount, The Quadrant to name only 5 that have investors about to lose money.
We are not charging anyone anything we are a group of people in Liverpool who are trying to help people who have been let down by our council.
There are other ways to get your money back by working together on each site but it won't be by getting it out of the developers but another way.
Contact me by email and myself and others will help as much as we can.
Thank you Stephen. I have now emailed you privately.
Hi Mr McNally,Let me first of all send you my Christmas greetings. I wish a Merry Christmas and a happy New year .
My Name is Ms Tsehay Fesseha Simret. I bout a studio flat in Pall Mall, Liverpoo F1008. I paid 50% deposit for £87,000. Now as you see , there is no One to talk to, to ask questions and get information about the Development.
The Solicitors said they are closing down and do not any more want to handle the case, that it is not their expertise to deal with the litigation. I do not know what is the last thing I would expect from this. It was nice to read your posting and it makes me feel better, although I feel there no hope to get our money back.
I am happy to come to be part of a group, that may come together to at lease find some one to talk to. So I ask your kind assistance to get to be part of the group of the buyers.
The Amy Solicitors send me your name and said you are on the process of applying to the Company house to apply for directorship for the schemes. I will be happy to support your application. What are you trying to do? Is there any hope of getting anything as a return from this project?
I look forward to hearing from you.
The company was only incorporated in April 2015. Here is a snap shot from DueDil:
Vanessa Warwick Landlord and Co-Founder of PropertyTribes.com **If you have got value from Property Tribes, find out how you can support it in remaining a free to use community resource**
On that note there was an interesting director exodus in 2016. Did they see the writing on the wall?
Landlord with 25 years’ experience in the property market and a specialist in tenant referencing, ID and credit screening. Creator of identity, credit and anti-money laundering system ValidID.co.uk
I'll pass this info on, what a great tool that is for a snapshot overview.
Thanks for the positive feedback Steve. This post may interest you:How to use Companies House for due diligence