{"id":82580,"date":"2018-03-13T12:00:30","date_gmt":"2018-03-13T05:00:30","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/edgy-urban-apartments-lavish-promos-and-a-trail-of-angry-investors\/"},"modified":"2018-03-13T15:03:30","modified_gmt":"2018-03-13T08:03:30","slug":"edgy-urban-apartments-lavish-promos-and-a-trail-of-angry-investors","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/edgy-urban-apartments-lavish-promos-and-a-trail-of-angry-investors\/","title":{"rendered":"Edgy urban apartments, lavish promos \u2013 and a trail of angry investors"},"content":{"rendered":"


\nMarketed with great fanfare by top UK politicians, a string of buyer-funded developments in Liverpool and Manchester were snapped up. Then the dominoes began to fallThey were billed as the jewels in the crown of the Northern Powerhouse: a multimillion-pound series of property developments that would have brought thousands of new homes and hundreds of jobs to Liverpool and Manchester, complete with helipads, Chinese bazaars and a Banksy street art gallery. But now the plans have collapsed amid accusations of fraud \u2013 all strongly denied \u2013 leaving the cities scarred with abandoned building sites and a trail of angry investors from around the world demanding to know where their money has gone.On Norfolk Street, in Liverpool\u2019s trendy Baltic Quarter, stands the six-storey concrete carcass of what was supposed to be Baltic House, launched in 2015 as a \u201cgroundbreaking\u201d development of student flats and creative live-work units. It was the first phase of the Gallery+ project, an \u201celegant, cool, urban and edgy\u201d mixed-use scheme, centred around a gallery of Banksy murals that had been ripped from nearby walls. It was one of many such glamorous projects devised by property company North Point Global, marketed with great fanfare in China and Hong Kong and sold off-plan to investors with the lucrative promise of high yields, before mysteriously grinding to a halt. Three years on, the company has pulled out of its planned \u00a3360m suite of projects across the city and stopped picking up the phone, leaving buyers to believe they are the victims of a ruthless scam, fiercely denied by the developers in question. Continue reading…
\n
\nSource : theguardian.com
\nRead more…Edgy urban apartments, lavish promos \u2013 and a trail of angry investors<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Marketed with great fanfare by top UK politicians, a string of buyer-funded developments in Liverpool...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-82580","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-ltW","jetpack-related-posts":[{"id":29457,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uk-governments-northern-powerhouse-scheme-is-driving-property-boom-in-thriving-manchester-liverpool\/","url_meta":{"origin":82580,"position":0},"title":"UK government\u2019s \u2018Northern Powerhouse\u2019 scheme is driving property boom in thriving Manchester, Liverpool","date":"October 11, 2016","format":false,"excerpt":"\r Property in Manchester and Liverpool is seeing an investment surge despite predictions of slowed growth following Brexit. Indeed, property prices nationwide have shown resilience following the EU referendum, rising 5.6 per cent on an annualised basis in August, up from 5.2 per cent in July. It is now clear\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":81167,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hunt-for-cheaper-and-smaller-units-takes-asian-investors-to-second-tier-cities-in-uk-and-europe\/","url_meta":{"origin":82580,"position":1},"title":"Hunt for cheaper and smaller units takes Asian investors to second-tier cities in UK and Europe","date":"February 27, 2018","format":false,"excerpt":"\r Asian investors looking to buy property in the United Kingdom and Europe are turning to tier 2 cities as they target smaller units and higher yields, say realtors. Manchester, Liverpool and Leeds in Britain, and Berlin and Frankfurt in Germany, are the hottest cities being considered by investors from\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":112896,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/manchester-and-liverpool-are-an-easy-win-for-property-buyers-as-second-tier-uk-cities-edge-out-pricey-london\/","url_meta":{"origin":82580,"position":2},"title":"Manchester and Liverpool are an easy win for property buyers as second-tier UK cities edge out pricey London","date":"December 5, 2019","format":false,"excerpt":"\r Manchester and Liverpool\u2019s popularity among soccer fans is undisputed as clubs from the two cities in the north of England are almost always on top of the league table. Now, these two cities are drawing the attention of property developers and buyers from Hong Kong and across the world\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":28107,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/jobs-wealth-and-gentrification-what-new-chinatown-could-do-for-liverpool\/","url_meta":{"origin":82580,"position":3},"title":"Jobs, wealth and gentrification? What New Chinatown could do for Liverpool","date":"October 1, 2016","format":false,"excerpt":"\r This Chinese-backed development has only just got under way, yet is already being heavily marketed in Hong Kong. Liverpool\u2019s mayor says the \u00a3200m project will create much-need jobs \u2013 but what else will it bring to the city?\u2018This is just the start\u2019: China\u2019s passion for foreign propertyThe glossy brochure\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":74072,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/just-the-keeper-to-beat-property-academy-for-wannabe-robbie-fowlers\/","url_meta":{"origin":82580,"position":4},"title":"Just the keeper to beat: property academy for wannabe Robbie Fowlers","date":"December 8, 2017","format":false,"excerpt":"\r Hopes of learning investment secrets from Liverpool football legend and \u2018property magnate\u2019 quickly turn into own goals at \u2018free session\u2019 Gettin\u2019 Jiggy Wit It is playing as we file into the Stephenson suite in the basement of the Hilton London Euston. Thirteen of us have come here to learn\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":62916,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/london-does-not-have-a-monopoly-on-the-best-jobs-letters\/","url_meta":{"origin":82580,"position":5},"title":"London does not have a monopoly on the best jobs | Letters","date":"August 6, 2017","format":false,"excerpt":"\r Manchester has more than enough charms to compete with the capitalHaving left London five years ago for a job in Manchester, I have sympathy with Rosie Walker\u2019s account of spiralling rent and property costs in London, (\u201cHave we reached \u2018Peak London\u2019 as millennials leave in record numbers?\u201d, Comment). 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