Action at last on stalled property developments in Liverpool & Manchester

This was supposed to be the New China Town development which attracted investment from all over the World especially China and Hong Kong. Now the Serious Fraud Office is investigating some people behind this and two other schemes

I am delighted that the Serious Fraud Office in partnership with the North West Serious Crimes Unit and the Merseyside Police have today issued warrants in respect of people behind two Liverpool properties and the Angel Gate development in Manchester.

The two Liverpool properties are:

1. North Point Pall Mall, 70-90 Pall Mall, Liverpool – the development company being North Point (Pall Mall) Ltd; and
2. New Chinatown, Great George Street, Liverpool – the development company being China Town Development Company Ltd.

For more than 3 years I have asked Liverpool Council to clean up its own act in terms of the way that it has assisted with the promotion of these properties and in one case the sale of land to a failed developer. Although being blocked at every turn I am pleased that there is now an internal enquiry into these matters led by Cllr Jane Corbett.

We currently have 8 unfinished or semi-derelict blocks in our city which are blighting their neighbourhoods and damaging the City’s reputation.  Much of the investment for these sites has come from China and Hong Kong and it is highly interesting that the questionnaire that the SFO is using to try and identify more investors has a Chinese language version.  The questionnaire can be found here https://sfohills.egressforms.com/

I would urge anyone who is an investor or who knows an investor to make contact with the SFO using this form so a full understanding of the problems can be obtained.