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Belfast flat buyers to pay developer for lost value

BBC News
The developer will retain ownership of the flats at Woodlands Manor

The developer will retain ownership of the flats at Woodlands Manor


Four buyers who agreed to buy flats at the height of the property boom but did not complete the sale will have to pay thousands of pounds to the developer.



PBN Property sued some clients who failed to fulfil their 2008 contract to buy apartments in south Belfast.

As well as being paid for the loss of value, the firm will retain ownership of the Woodland Manor flats as part of an out-of-court settlement.

The cases were settled after the buyers withdrew a counter-claim.

The company had already reached agreement last October with a number of other purchasers who failed to complete on contracted sales at the development at Stockman's Way.


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