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08/04/2010
Titanic Quarter Sues Over Apartments
The developer of homes in Belfast's Titanic Quarter is to sue customers that have failed to complete the purchase of apartments, according to the BBC.
Titanic Quarter Ltd, owned by Dublin-based firm Harcourt Developments, has issued writs against 12 customers, the report states.
The cases are due to mentioned at the High Court in Belfast next week.
The crash in property prices has resulted in some buyers being unable to secure mortgages to cover the cost of flats that were agreed when prices were still high.
The company said it had been talking to the customers and had offered incentives for them to complete the purchases but agreement had not been possible.
Those incentives are believed to have included discounts to the original agreed price.
Harcourt Developments holds the development rights for the huge Titanic Quarter site.
The residential aspect of the development is an apartment project called the Arc.
(NS/BMcC)
Titanic Quarter Ltd, owned by Dublin-based firm Harcourt Developments, has issued writs against 12 customers, the report states.
The cases are due to mentioned at the High Court in Belfast next week.
The crash in property prices has resulted in some buyers being unable to secure mortgages to cover the cost of flats that were agreed when prices were still high.
The company said it had been talking to the customers and had offered incentives for them to complete the purchases but agreement had not been possible.
Those incentives are believed to have included discounts to the original agreed price.
Harcourt Developments holds the development rights for the huge Titanic Quarter site.
The residential aspect of the development is an apartment project called the Arc.
(NS/BMcC)
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