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Fears collapsed property company may have no funds left
The Tannery is now one of a number of failed and stalled developments to the north of the city centre
The Tannery site on Bevington Bush in Vauxhall: pic by Liverpool ECHO (Image: Liverpool Echo)
An email from a solicitor has suggested a failed property company that owes large sums of money to investors may not be able to pay deposits back to buyers.
The ECHO recently reported that 377 planned apartments at Bevington Bush had not been built and the development company The Tannery Liverpool Ltd, had entered into receivership.
The scheme is now one of a number of failed and stalled developments to the north of the city centre in Vauxhall and Everton.
Fears millions of pounds could be lost after property scheme collapses
Sales agent claims most people will get their deposit back
Updated
Hundreds of people have invested millions of pounds in a property scheme which has collapsed. Developers planned to build 377 apartments at Bevington Bush in the Vauxhall area of the city. But earlier this month the ECHO revealed that the scheme had not been built and that development company The Tannery Liverpool Ltd had entered into receivership.
The ECHO can now reveal that according to Land Registry records, there are 186 unilateral notices on the site ( UN1s.)
Each UN1 represents an investor who has put down a deposit on the Tannery. Prices at the Tannery ranged from an entry level at £85,000 through to £182,000. The ECHO has seen emails suggesting average deposits were at around 30% of the sale price.
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