Credit Crunched Construction Projects! List here!

[BarryB]

Ah, re-reading the complexity.

So the goods yard development isn't cancelled.

Yet

Its not cancelled but in February Hammersons announced that they have postponed construction starts on sites they have planning permission for . But the Bishopsgate Goods Yard development doesnt have planning permission anyway. But im sure that they are still seeking planning permission so they can start work as soon as economic circumstances permit. In that case they might have a long time to wait!

BarryB

 

[durruti02]

http://news.bbc.co.uk/1/hi/business/8287828.stm

Financial shadow cast by city apartments

Analysis By Kevin Peachey Personal finance reporter, BBC News, Leicester Thursday, 8 October 2009 00:01 UK

Thames Tower Sales have only be completed at 14 of the apartments in Thames Tower

Grey, concrete, 16-storey Thames Tower is typical of the newly-built or renovated apartment blocks thrown up across cities in the UK in recent years. It dominates the skyline on the northern tip of Leicester city centre, overlooking the inner ring road and the edge of the shopping district. But it has cast a much darker shadow over its developers and the investors who chose to sign up for one of its 112 apartments which were being revamped during the property boom. Contracts were signed for all but one of the apartments, but today only 14 have been bought and are occupied. The withdrawals caused the collapse of the developer, Brampton Asset Management (Leicester) Ltd.

 

[salem]

There are a lot of these old wharfs/apartment developments up North which are being let out for bugger all by people who followed the 'how to become a property millionaire' crap. For the deposit of a couple of grand they got a property portfolio which might be worth a million off (of course while it is in their name it is of course all owned by the bank really). The rents often don't cover the mortgage payments and when service charges and the like are added in then there's going to be a lot of people ruined. I do feel a little sorry for them, but it was greed that blinded them.

I know someone whose a really nice bloke whose trying to sell a load of flats in a block in Leeds and doesn't seem to understand (or presumably want to understand) that he may make a loss on them. He's not stupid by any means but was blinded by the property can only go up mentality that was fostered over the past few years.

 

[Dr Jon]

Kingsnorth Power Station

The energy company says that the plans have been postponed due to the recession.