If you do a search on the web you will find a number of topics on properties such as Westbridge Wharf in Leicester, which sounds similar to yours.

Rightmove shows an apartment at £360,000 and a number of serviced apartment sites show rental rates of £300 to £400 per week, so you really need to find out what teh value is now, is is completed yet?

It may be possible to get a buy-to-let mortgage of 85% of current value, if the value has fallen to £300,000 you could still borrow £255,000 and put it straight back onto the market at £300K.

As previous post says, get legal advice.