MBI and Northern Powerhouse Developments
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NewbieInvestor86 wrote: »Haha OK Zanderman I get it, it's high risk.
I'm new to this so I want a good return with low risk. What kind of investment should I look at?
Cheers
https://www.moneysavingexpert.com/investments/0 -
I was advised that to attempt to pursue a refund from MBI/NPD would be costly and time consuming and my best strategy would be to wait to see if I received any returns in December 2019. I went ahead with a Divestment into a hotel room as I was refused a refund. My initial investment of £50K has increased to £64k and this more or less was what was required to invest in an upgraded hotel room. Currently I have no choice but to wait to see if my returns materialise. I am still keen to communicate with others in a similar position. NPD are currently expanding rapidly having recently hit planning consent to develop the Afan valley resort in South Wales to be run on similar lines to Center Parcs0
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I was advised that to attempt to pursue a refund from MBI/NPD would be costly and time consuming and my best strategy would be to wait to see if I received any returns in December 2019. I went ahead with a Divestment into a hotel room as I was refused a refund. My initial investment of £50K has increased to £64k and this more or less was what was required to invest in an upgraded hotel room. Currently I have no choice but to wait to see if my returns materialise.
It must be said that this smacks of throwing good money after bad, in the mould of advance fee scams - exactly who advised you that this was sensible?0 -
I went ahead with a Divestment into a hotel room as I was refused a refund. My initial investment of £50K has increased to £64k...Reed0
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My initial investment of £50K has increased to £64k and this more or less was what was required to invest in an upgraded hotel room.
No it hasn't, unless you can encash it today and receive £64k into your bank account within a reasonable timescale. Any investment is only worth what someone else will pay for it.
We already know that you can't, as you asked to sell the investment and were refused. No third party is going to buy it. This means it is worth £0 until proven otherwise. Sorry.eskbanker wrote:It must be said that this smacks of throwing good money after bad, in the mould of advance fee scams - exactly who advised you that this was sensible?
In fairness I don't think Ashpan has thrown good money after bad, they are just being strung along further regarding the already bad money. As I read Ashpan's post, the scheme promoter has told them their £50k of bad money is now worth £64k of bad money, which is entirely spurious as described above (they could tell Ashpan it was worth £640 million, it makes no difference if they can't withdraw it or sell it). I don't think it means they put in another £14k, although perhaps I am just trying to assume the best.0 -
still looking for anyone who's returns have actually materialised from either MBI or NPD - not someone who works for or represents them0
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I have recently had 2 separate NPD investors contact me with concerns over their annual payments and other issues. Mine are not due till 2019. Anyone else having problems ?0
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The business concept is excellent, to have one new chain that could become like Intercontinental or something, with four of five different styles, and purchasing buildings or hotels with character, good. But the board is headed by what comes out of my limited research as a grabber and gambler who openly says all their profit comes from the right exit strategy. For the board, that is. The director of the board and the sales director have ben associated with failing companies before, but seem to have left the capsizing boat, with not too much financial and reputation damage to themselves. {Edited by Forum Team} has over five years headed and sometimes beheaded 78 companies, at present he is the director of 33 and has a debt of 660 £ K is I recall well. I have not been able to find that site back after having visited it. My worry is that this is just a pyramid scheme. If you are among the first batch of buyers, you may get still quite some returns before they will peter out. Everyone will get returns a few times, to put the investor at ease, then they may stop. Second point, they need to have permanent 80% occupancy rate in all their hotels- that is unheard of in the history of hotel industry. They are doing very well with occupancy rates until now, , but no matter how dedicated and competent the hotel management staff, they can't achieve that. The concept is great, the financers are untrustworthy, the promises to the lenders are their . They are biting off more than they can chew. And one of their already refurbished hotels was not so fantastic that it could justify consistently charging much higher rates than the neighbouring hotels. The sales director and the director of the broker firm are clearly into fast living even before the start-up has proven its worth. This is what worries me. It is rather sad that sucjh a brilliant concept is already perverted by greed before it can be entrusted to passionate hotel managers As for the type of scheme itself: this crowd funding investment in hotel or care property is so trendy that per force the competition is simply too huge and at least half of the schemes must collapse. Is the UK economy going to be strong enough over ten years and will it give the average citizen enough to allow them holidays in such hotels? But oh how tempting it is! to think this time it is going to be OK! To think the directors are maturing into respectful upright citizens, just now when you want to believe them.....but if they were such upright persons, they wouldn't go into this sector, so the key players in these schemes will always be of ambiguous financial morality. If you already bought into the scheme, i would be optimistic. For me, what makes me abandon the project is the uncertainty of the exchange rate between the pound and the euro. I wen to see our account manager today and he strongly warned me that is an additional risk for non-British investors. .0
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I'm in exactly the same situation as ashpan. I bought a care home unit off plan two years ago and was expecting completion and first returns in January 2019, as stipulated in the contract. As you explained in your post, development plans were changed and I was offered the same three options you described. I chose not to invest in one of the proposed NPD hotels but decided to wait until construction of the care home is finished, whereupon the developers have promised to buy back "my" room for 125% of the purchase price. My concern is that so far, I have no idea when construction will end or if it has even started.
I must add that I've also invested in another care home renovated by ex-MBI and have received two annual returns with no problem, so I'm still hopeful on this one.
If you (and others) are still interested in following up this problem, please send me a PM so we can explore constructive solutions with MBI/NPD.0 -
I have invested in this company Northern powerhouse development in July 2018 and my return payment for the first year supposed to be paid on beginning of August 2019 but till date the payment was not received and they are asking for more time to provide the payment as per last communication it shall be on 23 of November but I do not know if they will do it or not.
I will be waiting and see what they will do when this date 23 of November becomes due.0
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