Chris Blackhurst in The Standard reports that the market is cooling for luxury property that's bought off-plan by overseas investors. If these investors pull out after putting down their deposits the development project is in trouble. The Goodsyard plans will rely on forward selling of their luxury housing, although scrutiny of the plans reveals that the two main towers would not commence until 2021 with the whole development not completed until 2032! Hammerson have already kept the site empty since 2002 while they waited for the right market conditions and this uncertainty is set to continue, with nothing being built on the site. 

http://www.standard.co.uk/business/chris-blackhurst-truth-behind-sold-signs-as-foreign-buyers-go-cold-on-luxury-london-homes-a3177251.html

  

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