The Bermuda Housing Corporation has pulled out of a $4.2 million deal to buy 14 one-bed apartments in Pembroke.

Lawyer Llewelyn Peniston said the units in Parsons Road/Glebe Road built by his client Neil Inchcup were ready and now a new buyer was being sought. Last year BHC said a lottery would be needed because of the amount of people wanting to buy into the condo development on Glebe Road, Pembroke known as New Park.

The units were priced at around $300,000,

Mr. Peniston said BHC would have been able to buy the units and sell them off at a modest profit but BHC had raised issues about the development even though architects and engineers had all signed off on it. Asked about flooding risk he said the development complied with every building code including the canal and ditch act.

He said: ?I suspect the failure to close might have something to do with the budget of BHC.?

Offers are now being sought on the block for $300,000 to $375,000.

BHC General Manager Vance Campbell could not be reached for comment.