Investors into 23 posh apartments stand to lose tens of thousands of pounds

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. Try MEN Premium for FREE by clicking here for no ads, fun puzzles and brilliant new features 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.