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Millions lost in housing estate
It was sold as an exclusive Hamilton subdivision, but would-be residents are ropable, reports Natalie Akoorie.
By NATALIE AKOORIE - Waikato Times | Saturday, 21 June 2008
Nine disgruntled buyers in an exclusive Hamilton subdivision have cancelled their contracts, claiming that the River Road North site is not the prestigious estate the developer sold it as.
Other buyers are poised to follow suit, including one who is understood to have bought a whopping 20 sections in the Saint-Petersburg Estate.
One of the nine, who have banded together through a lawyer to fight Rotorua-based developer Peter Bradley for their deposits, said the subdivision was not what purchasers thought they were buying into in mid-2005.
The Hamilton father-of-three, who does not want to be named, said Saint-Petersburg Estate was sold to them as an ``exclusive'' subdivision of a quality befitting its illustrious 1818 River Rd address.
Advertising hoardings still at the subdivision state it will include ``beautiful architectural bridges throughout'', a new cafe to be built on site, streamside scenic walkways and the ``largest residential sections''. With work on the subdivision understood to be complete and titles near release, the contrast to what was promised is stark, though contracts signed say the developer could make changes.
The couple bought a 1045sqm section for $269,000 and paid a $10,000 deposit under builder's terms in September 2005.
They signed the contract without legal advice after a sales agent, who worked for Mr Bradley's Featherstone Park Developments Ltd, told them sections were selling out fast. Later they found the standard 14-day cancellation provision had been removed from the contract.
Billed as a ``character residential subdivision'' and as ``romantic countryside living with city sophistication'', Saint-Petersburg Estate sections were priced at the top end of the market, ranging from around $200,000 to $400,000 and were upwards of 700sqm.
The couple say they were told bridges would be built of schist, there would also be a lake or pond, a jetty, a tennis court, playground, extensive tree planting, and no through roads to neighbouring estates.
They spent $12,500 having a dream home specially designed for their section and waited patiently after their title didn't come through in August 2006 as expected.
But when low-grade chip seal was used in roading and galvanised steel street lights instead of ornamental lamps were erected, the couple began to worry.
``They represented this as a really special, upmarket subdivision. We are absolutely ropable.''
On top of that a through road was linked to more than 200 sections in adjoining Eton Estate.At the time of purchase they believed only 84 sections were for sale. But when 118sq m was shaved off their section through a clause in the contract, they became aware extra sections were added to the estate with 97 sold in total.
The Hamilton lawyer acting on behalf of the group, Victoria Whitfield, said in her opinion there was a strong case for misrepresentation, breach of contract and breaches under the Fair Trading Act, and that conditions in the Resource Management Act had not been met.
She said the section owners had paid a premium for a high-quality subdivision which had not been delivered.
``I don't think that you can promise somebody a Rolls-Royce and give them a Mini which is what I think the developer has done in this case.''
Solicitors have been notified the deposits are in dispute and instructed not to disburse them..
Saint-Petersburg Estate sales agent Kelly Bradley, the daughter of Mr Bradley, did not respond to a list of questions from the Waikato Times, which had been supplied to her on Thursday. Mr Bradley said he was in a meeting when contacted.
http://www.stuff.co.nz/waikatotimes/4591575a6004.html
It was sold as an exclusive Hamilton subdivision, but would-be residents are ropable, reports Natalie Akoorie.
By NATALIE AKOORIE - Waikato Times | Saturday, 21 June 2008
Nine disgruntled buyers in an exclusive Hamilton subdivision have cancelled their contracts, claiming that the River Road North site is not the prestigious estate the developer sold it as.
Other buyers are poised to follow suit, including one who is understood to have bought a whopping 20 sections in the Saint-Petersburg Estate.
One of the nine, who have banded together through a lawyer to fight Rotorua-based developer Peter Bradley for their deposits, said the subdivision was not what purchasers thought they were buying into in mid-2005.
The Hamilton father-of-three, who does not want to be named, said Saint-Petersburg Estate was sold to them as an ``exclusive'' subdivision of a quality befitting its illustrious 1818 River Rd address.
Advertising hoardings still at the subdivision state it will include ``beautiful architectural bridges throughout'', a new cafe to be built on site, streamside scenic walkways and the ``largest residential sections''. With work on the subdivision understood to be complete and titles near release, the contrast to what was promised is stark, though contracts signed say the developer could make changes.
The couple bought a 1045sqm section for $269,000 and paid a $10,000 deposit under builder's terms in September 2005.
They signed the contract without legal advice after a sales agent, who worked for Mr Bradley's Featherstone Park Developments Ltd, told them sections were selling out fast. Later they found the standard 14-day cancellation provision had been removed from the contract.
Billed as a ``character residential subdivision'' and as ``romantic countryside living with city sophistication'', Saint-Petersburg Estate sections were priced at the top end of the market, ranging from around $200,000 to $400,000 and were upwards of 700sqm.
The couple say they were told bridges would be built of schist, there would also be a lake or pond, a jetty, a tennis court, playground, extensive tree planting, and no through roads to neighbouring estates.
They spent $12,500 having a dream home specially designed for their section and waited patiently after their title didn't come through in August 2006 as expected.
But when low-grade chip seal was used in roading and galvanised steel street lights instead of ornamental lamps were erected, the couple began to worry.
``They represented this as a really special, upmarket subdivision. We are absolutely ropable.''
On top of that a through road was linked to more than 200 sections in adjoining Eton Estate.At the time of purchase they believed only 84 sections were for sale. But when 118sq m was shaved off their section through a clause in the contract, they became aware extra sections were added to the estate with 97 sold in total.
The Hamilton lawyer acting on behalf of the group, Victoria Whitfield, said in her opinion there was a strong case for misrepresentation, breach of contract and breaches under the Fair Trading Act, and that conditions in the Resource Management Act had not been met.
She said the section owners had paid a premium for a high-quality subdivision which had not been delivered.
``I don't think that you can promise somebody a Rolls-Royce and give them a Mini which is what I think the developer has done in this case.''
Solicitors have been notified the deposits are in dispute and instructed not to disburse them..
Saint-Petersburg Estate sales agent Kelly Bradley, the daughter of Mr Bradley, did not respond to a list of questions from the Waikato Times, which had been supplied to her on Thursday. Mr Bradley said he was in a meeting when contacted.
http://www.stuff.co.nz/waikatotimes/4591575a6004.html
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