The first teaser trailer for Sofia Vergara‘s new limited series has been released.
04.09.2023 - 06:01 / manchestereveningnews.co.uk
Investors into the failed conversion of an iconic building into 23 posh apartments stand to lose tens of thousands of pounds in a looming legal battle with a pension fund.
A dozen people each put down 50 per cent of the £120,000 asking price for the apartments as part of a scheme to develop Caxton Hall in Salford’s Flat Iron Conservation Area.
But the apartments were never completed and the developer - Wilma Developments Limited - has gone into compulsory liquidation.
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The owner of the building is the Jerrold Manufacturing Company (Textiles) Ltd Pension Fund, based in Cheadle.
Following the demise of the developer Jerrold has applied to the Land Registry for the lifting of a legal order called a Unilateral Notice (UN1), held by the investors.
Such an order means nothing can be done to the building without their agreement.
If the order is lifted, the investors effectively lose any control they have over the property and with it their money.
It will be decided at a Land Registry tribunal on a date yet to be determined.
A spokesman at the Land Registry said: “We can confirm that we are in receipt of applications to cancel the Unilateral Notices on the property.
“We have received a number of objections from solicitors acting on behalf of some of the beneficiaries [the investors].”
He said that there would be a Property Chamber first-tier tribunal ‘to determine the matter’.
A Portugal-based investor - who does not wish to be named - says he paid out more than half the asking price, £70,000, in 2018 to reserve an apartment.
“I visited the property in April this year and saw that only superficial preparation work had been carried
The first teaser trailer for Sofia Vergara‘s new limited series has been released.
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