A long article on the particularly manic boom in Belfast in the mid decade in the Times todayhttp://www.irishtimes.com/newspaper/fin ... 67293.html
As we know many southern Canny McSavvys had their fingers in the Belfast property pie but as contract law up north is different to down here it seems that it is legally easier to force completion of the contracts . Payment of a deposit is somewhat different to the situation down here
Big Picture Developments – the development vehicle of Barry Gilligan, the former chief executive of Dunloe Ewart and current chairman of the Northern Ireland Policing Board, and Kevin Stanley of Dublin-based Stanley Holdings – has issued writs against buyers who have not completed on apartments on which they paid deposits.
Another property firm that has already gone down the legal route with regards to buyers who have not completed is PBN Property. The Belfast-based company, which specialises in commercial and residential development, was established by the former regional director of Anglo Irish Bank in the North, Neil Adair, and two other high-profile Northern Ireland businessmen; Patrick Kearney and Brian McConville.
More and more on the contracts and misc links here . http://tonymusings.blogspot.com/
A NEW question mark hangs over the Waterfront finance district scheme after developers Harcourt apparently missed their final deadline to prove they had the money to build it. It is understood that the Irish developers did not meet their final deadline of last Friday to provide the Waterfront Enterprise Board with a bond to prove that they had the funds to carry out the scheme. If that is the case, WEB could have to negotiate with other developers to build the 14-block finance district on the Esplanade car park. The developers missed a deadline to supply the bond at the start of the year and were dropped as 'preferred developers' for the seven-year scheme. They were then given a second deadline of 4 September to come up with the money, but apparently failed to do so.(1)