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  • FIRST POST
    • ashpan
    • By ashpan 13th Sep 17, 6:49 PM
    • 66Posts
    • 7Thanks
    ashpan
    MBI and Northern Powerhouse Developments
    • #1
    • 13th Sep 17, 6:49 PM
    MBI and Northern Powerhouse Developments 13th Sep 17 at 6:49 PM
    i invested in a care home development company a couple of years ago, then known as MBI Property Investments, but now known as Northern Powerhouse Developments. I Purchased a room in an off-plan care home with the idea of a return on my investment commencing in december 2019. They have recently written to me saying that the company has now been split into 3, with the care home i was investing in being transferred to a leisure company that speciaised in selling hotel rooms. They have told me that they plan to sell the care home i invested in as soon as its built as the new CQC guidelines mean that the size of the rooms wont make it financially viable. I have three choices currently, transfer my investment to a hotel room in the next 4 weeks and they will add another 10k to the investment and i will get my returns 12 months early, leave the money in the off plan care home or sell my room in the hotel once ive purchased it. Im pretty confused and disappointed with the whole situation as how do i know that they wont again change things when the time comes to realise my investment. I need to know if i can get out of this as they havent kept their side of the deal ie by constructing a care home and having my room up and running to be able to offer me a return on my investment.
    Has anyone else invested in either MBI or Northern Powerhouse Developments ?
    Last edited by ashpan; 13-09-2017 at 6:54 PM. Reason: spelling
Page 1
    • Zanderman
    • By Zanderman 13th Sep 17, 9:42 PM
    • 1,230 Posts
    • 3,621 Thanks
    Zanderman
    • #2
    • 13th Sep 17, 9:42 PM
    • #2
    • 13th Sep 17, 9:42 PM
    As I posted in your other thread on this (why two threads in the same place?):

    This article from the Independent in Dec 2015 might be of interest to you, though it is not very reassuring re MBi's tactics.

    http://www.independent.co.uk/life-style/health-and-families/health-news/care-home-rooms-offered-for-sale-to-private-investors-on-buy-to-let-basis-a6768606.html
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