store first

mania112

Considering the hoops a regulated company have to go through to sell Invesco Perpetual High Income (for example) - I'm amazed that so many of these types of investment exist.

It seems the regulation only applies to legitimate investments and anything risque can offer the sun without fear of recrimination.

ALZIE_2

I have asked Storefirst how they fund the short fall between the rental incomes and the advertised returns, and guess what ? they have not answered. I am taking them to court for breach of contract, but their "Investment" must be brought more to the attention of the general public and hopefully they would be so disgusted with them that they would not rent the POD's. I have given up on seeing my money again but will do all I can to damage Groupfirst in any way I can

dunstonh

Dont want to say told you so. However...... Told you so.

These things all end up the same way.

jamesd

For added fun there's now Park First, a company related to Store First, selling parking spaces at Gatwick Airport to "investors" who like to lose their money, according to this weekend FT's story Pensioners promised sky-high Gatwick parking yields (direct link for subscribers).

The Store First case and its up to 46% commissions paid to a related company show how people extract money from people's "invested" money.

If you want legitimate high returns you can do far worse than having a read of Options: 10% tax free, 7% tax free, 11% taxable, 6% taxable and Peer-to-peer lending sites: MSE guide discussion. You'll find options mentioned that can pay 14%+ taxable or 11% tax free.

Rumpole2015

My 88 year old father was duped into this over the phone. The notice has just come through that Storefirst are executing their break clause after two years so those year three+ returns are, as has been already said, pure speculation. These pods are nigh impossible to sell. Don't invest because the early 8% return will be frittered away while your pod(s) remain empty and unlet. The story gets worse; my father was called by someone claiming to be from the company and offering to sell his pods for an attractive sum. He was told to transfer £6000 to pay for the "tax" on the sale in advance which he did. Needless to say it was a scam. The City of London fraud squad investigated and know the scammer but for some reason haven't arrested him.

jimjames

Saw this on another forum, storage pods that were sold at £30,000 are now being auctioned as a job lot, you can get 9 of them for £10,000. So that's a capital drop from £33,750 to £10k in 2 years and still no guarantee of selling. http://www.pugh-auctions.com/Lot/Manchester/20151203/110

Yet the Store First claimed these were low risk and guaranteed. I think it shows why you can't trust unregulated investments.

I'm also not sure if they have deliberately chosen words to use for their company names that are difficult to Google. So things like Park First, Store First, Group First complaints will bring up many unrelated items as they are such generic terms.


http://damn-lies-and-statistics.blogspot.co.uk/2015/11/store-first-storage-pods-scam-complaints.html

GCA

After listening to a radio 4 show and hearing about some of the claims made about the investment it seems to me, it has been sold to the wrong type of people without the knowledge or experience of investing needed to make the decision to invest. There are some interesting views and articles on

Doc_N

BBC Radio 4 You and Yours investigates storage firm Store First

A new twist in a long running investigation into investments in the UK storage company, Store First ltd. Listeners have told You & Yours they were persuaded by separate sales companies to take their money out of safe pension funds to buy Store First self-storage units. They were told terrific returns would be made by renting out the units to people who wanted to store their belongings, and also they could release their money from the investment easily. For many, none of this has happened.

http://www.bbc.co.uk/programmes/b06wg6y1

magpiecottage

diesel57 wrote: »

i DO NOT agree with these comments about Store First , i have met Toby (the owner) and i know he would be willing to come here to this forum and answer any questions or problems anyone has with these investments,.

because, despite what diesel57 claims to "know", the owner has NOT come and answered any questions.

Nor, for that matter, has diesel57 ever posted again. He looks like a stooge to me.

Doc_N

diesel57 wrote: »

i DO NOT agree with these comments about Store First , i have met Toby (the owner) and i know he would be willing to come here to this forum and answer any questions or problems anyone has with these investments, of course he has some bad press or failed investments, you can not bake a cake without breaking a few eggs ...

He was a very Genuine guy when i spoke spoke with him.

You wouldn't by any chance be connected with this outfit, would you? Or an investor trying desperately to protect your investment?

The BBC radio programme I posted a link to just above this post was fascinating listening - it's not a company most people would touch with a bargepole once having heard that report.

You do have to feel very sorry for anyone who was persuaded to put money in, and I gather there are a lot of them - including a lot of small investors.