13 Apr 2010 10:25 PM:
Just when you thought they were all washed up and headed for the scrap-heap, Peninsula strikes back!
So hands up all you Fairways purchasers who are happy about this turn of events? You can now complete on your purchase and take on a new mortgage with no guarantee of ever having a proper water or electricity supply, recieving any rental income, or being able to sell on your property. The rest of the development may never get finished, there may never be proper facilities to make the place truly livable in and Peninsula might still go bust in 3 months...
On the other hand, Peninsula would have *definately* gone under if it wasn't granted and they couldn't get any new completions through, forever dooming the site and every single purchaser involved in it. Everyone with a mortgage on ME23 would be screwed with no hope of redemption. All that would be left for us is throwing more money down the drain on most likely futile legal action...
There is of course that slim chance that this is the start of the recovery. Peninsula will get enough completions through to finish the water connections, sort out any remaining site problems and finally get in a tour operator to rent out our properties. Within a couple of years it could be the vibrant holiday resort we all hoped it would be!
It's all balanced on a knife edge. Only you lot can determine which direction it's gonna fall. Who's gonna put their money and peace of mind on the line to help save the day by completing? Quite a large number of people have to or the whole place is fooked...
Community thread:
Hallo
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