Investors taking action against property developer
Around 20 investors in Christchurch residential development taking legal action after purchase double-ups
Sunday, September 25th 2005, 7:13AM
by The Landlord
Tempers are fraying in Christchurch amongst investors who have bought a stake in the residential Ellington Estate near Mairehau High School.The subdivision is being run by a company called Colorado Investments. Its director is listed as Bernard Whimp.
Investors are claiming they have bought sections, only to find that in some cases, other people believe they have bought the same section. Around 20 buyers met yesterday and have decided to take legal action against Mr Whimp.
The real estate company caught up in the controversy is promising to do its best to put things right. Ray White Realty spokesman Shane Paget says his company was never made aware of the original contracts and made its sales in good faith.
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