apart hotel london

[Berba]

I put a 25% deposit on an apartment in an apart hotel in westminster london in 2006 with a view to selling it on before completion. The hotel is in an excellent location across from big ben. There is a 6% return on the apartment for five years from the completion date which is spring 2010. The remaining payment is due on completion.
Do any of ye guys have an opinion on wether I should try and sell it on now if I can or if I should try and hold onto it.
Thanks

 

[mercman]

Am involved in property in London and to be perfectly honest the market is in complete dis-order. Without been over pessimistic, I think if you wish to sell now and a buyer can be found you will end up taking a hit. And if you choose to wait until completion you as the way things look now you could face a wipe out in value. Apologies for the pessimism but this is how he market looks and with the UK Government propping up the Banks, the outlook for the medium term looks very very bad.