UK Landlord Forum / Life

THE developer behind the Laharna Building has announced a clearance sale and declared that all 52 apartments must go.

From this Friday, the turn-key units built by Adela Properties on the site formerly occupied by the Laharna hotel are being sold off at up to half-price - from £78,475.

Local agents Brian Todd and Co and Hunter Campbell say the clearance sale has already attracted considerable attention and they confidently expect an influx of potential purchasers to view three show apartments over the weekend.

Five units in the distinctive five-storey town centre block have already been sold and the agents reckon the substantial discounts, together with a concerted marketing campaign, will engender interest from near and far for the apartments which are a mix of one, two and three-bedroom units and two penthouses with views over Larne lough.

Mark Clark, partner at Todds, said, "We're expecting a lot of people and maybe even a few overnight campers."

A £500 down-payment is required to reserve an apartment and buyers will receive an assurance that they won't be disadvantaged should property prices fall any further in the current unpredictable market.

"There will be a price guarantee," said Mr Clark, explaining it will take effect "if the builder reduces the price of the same apartment type in later phases".

Jennifer Campbell, of Hunter Campbell, said, "The builder has priced the apartments at a realisitic price in today's market and we know from the response to date that many first-time buyers are very interested."

She said it was "a rare opportunity" to acquire properties that are finished "to a very high specification" in a commanding position in the town centre.

Three of seven ground floor retail units have been sold and one will operate as a marketing suite to accommodate potential purchasers for the apartments.

The Laharna sale begins place this Friday, Saturday and Sunday. For full details, see the advertisement in the Larne Times property section.

Are the apartments still in good condition? Offers like these need second thoughts.

If the whole development is sold at half price then it isnt half price its market value! and the banks will agree when they come to value and repossess.

I agree, but even so, its still nice to see developers selling for market value instead of over inflated prices.

Quote from: Uncle Norman on December 04, 2008, 08:59:13 AM
I agree, but even so, its still nice to see developers selling for market value instead of over inflated prices.

I don't think they have a choice...

Good,

Its times like this that you can see how powerfull the population tool is,  It should send out a big message to the big wigs in all industry, about how to treat the most important thing this country has.  ITS PEOPLE !.  Oh, and its peoples money !

Yeah, I agree. Over the last 5 years developers have been taking the piss with new build property prices!

I have been keeping my one huge eye on a development in my area,  It was an old institute that was knocked down to make way for town houses.
Now the developer is private and has built 15 town houses on the site.  It has taken him since down tools, 5 Mths to rent or sell only 12 of them, is this normal, its been the longest ive seen new build on the market