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| Palmetto Bay, Barbados (proposed site for The Merricks Resort) |
"Some investors who bought off-plan units at The Merricks, Las Canas and other schemes believe that their money may have been used to complete Buccament Bay, in which they have no stake.
Harlequin instructs agents to make it clear to potential investors that revenues are used to market and develop all the resorts in the Caribbean. Harlequin says it is treating investors seeking refunds on uncompleted properties in The Merricks and Las Canas "sympathetically" but that often involves re-negotiating terms.
One woman was offered the chance to swap her unbuilt villas at Merricks for similar properties at Buccament Bay but she declined because she thought they were of lesser value. Others have been offered "discounts" of 10 per cent on their unstarted properties at Merricks..."
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Express.co.uk - Home of the Daily and Sunday Express | Property :: Recession 2010: When hotspots turn cold
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