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Help: Liverpool Eclipse Development & Property Hub

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Nobby

New Member
Hey All,

Back in 2019 I felt lucky to have secured (off-plan) a 2-bed apartment in the Eclipse Development Liverpool.

I do feel concerned given that we've passed the long stop date and the build is not progressing as funds are yet to be released. I wanted to see if anyone else here is also buying in the Liverpool Eclipse Development and hear what they are planning to do as we are now in a position to pull out of the deal if we want to? We're being recommended to sign an extension to the long stop date from 31 March 2022 to Q2 2026.

Happy to take advice from anyone who isn't in that development but wants to provide advice.

Regards

Nobby
 
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DannyB

New Member
I also secured an apartment in this.development and am in the same boat as you. Although the long stop passed several weeks ago, I have heard nothing from either Property Hub or the developers Ridgemere LTD.

I had an email a few months ago saying that cabins were on site and site clearance had begun but Ridgemere and Property Hub have gone quiet again. Does site clearance take 3 months or are Ridgemere in some sort of trouble? Either way, I’m concerned about the likelihood of the build actually reaching completion.

I think it’s still a good deal (if it completes) but I’ve lost confidence in Ridgemere and they’re not doing anything to reassure me.

Nobby, do you think drop the deal or get your money back?
 
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Nobby

New Member
I am really keen to see an update from the Property Hub. The lack of updates is really concerning and I note that they've launching a seminar on 10 May in relation to "How to win with off-plan property".
 
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Dora Wi

Member
I'm not sure if I remember correctly but I think I have heard about this issue and supposedly there is a facebook group where investors can discuss their issues related to this investment.
 
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MillionsGillions

New Member
Hi, I'm in the same position too,

There was a thread on the Property Hub forum but they have deleted it! I've noticed another client complain on Google Reviews.

Can you link me to the Facebook Group please?
 
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Nobby

New Member
Hi

I noticed the same thing that it was deleted too which is very disappointing. Can you post the link to the Google Review? I would be very interested to read it. I've been trying to find the link to the Facebook Group but unfortunately been unable to find it.
 
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jeznielji

New Member
Hi, I'm also on the same situation. Are you guys pulling out? I assume we lose our sourcing fee of £5k.
 
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MillionsGillions

New Member
Hi Jez,

It's still a good an investment on paper. I wouldn't pull out yet or sign anything until we have a substantial update from the developer by way of actual ground works.

Property Hub have said we should expect an update in a few weeks so let's see what happens.

Yes you'd lose your sourcing fee + solicitors fees. PH may refund your £5k as a goodwill gesture if you did pull out, you'd have to speak to them about that however.
 
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jeznielji

New Member
Hello,

Has anyone heard anything on this? What is everyone doing as it has been awhile....

Thanks,
Jen
 
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Nobby

New Member
Hi Jen

I've not heard anything since the last Property Hub Invest update since about March. Can I just ask what is your situation in relation to this development?

Regards

Nobby
 
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jeznielji

New Member
Apologies for the late response Nobby! I haven't done anything with my deposit as I was hoping for a further update before deciding on whether to pull out. Looks like we have received an update that funding has been confirmed and will be transferred in the next month which hopefully is true.
 
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DannyB

New Member
The supposed release of funds on 26 Aug is my decision point on whether to drop the deal. We’ve been here at least twice before with happy news that it’s all going ahead before it’s all gone quiet again.

The fact that Ridgemere Developments have been so evasive hasn’t been all that reassuring either. It’s all felt a bit chaotic and unprofessional. They certainly haven’t inspired confidence. Let’s hope they’re better at building than they are at finance and communications…
 
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