Car Park Investment - Is it a Scam?

jimjames

Aretnap wrote: »

As an aside, on a rough calculation, at £25K/space that small patch of tarmac is "worth" somewhere north of £5m - about ten times as much as the well-to-do houses with similarly sized gardens just down the road. Which is nice.

Appropriate use of the word "worth" there. As you suggest it's "worth" what someone will pay for it. You may find punters happy to pay £25k per space but I suspect you won't find many people happy to pay £5m for the whole car park.

Katiewhy2

Now that would be good- If someone wanted to buy the whole carpark for £5m!

At the moment, GRL are offering (but they say don't quote them on that) £71k for my two spaces - That would be nice too! They are getting back to me tomorrow with a formal offer - They say that PF have given them their data base of all those who want early buy back - Have none of these people got morals or care about other people?

JohnRo

Katiewhy2 wrote: »

Have none of these people got morals or care about other people?

Clearly the answer is no, all they care about is taking your money and making it their own. That includes this latest offer.

The sooner you realise what sort of slippery low life scum these people are and that most if not all of the money you've handed over is gone, the better.

Do not send any more money to anyone connected with this PF scam or any other scam for that matter.

Aretnap

Katiewhy2 wrote: »

Now that would be good- If someone wanted to buy the whole carpark for £5m!

At the moment, GRL are offering (but they say don't quote them on that) £71k for my two spaces - That would be nice too! They are getting back to me tomorrow with a formal offer - They say that PF have given them their data base of all those who want early buy back - Have none of these people got morals or care about other people?

Joking aside, a realistic value for the whole car park would be much closer to £71K than £5 million. It is after all just a patch of land, big enough to build a couple of reasonably nice houses on, with a cheap tarmac job and a fence around it. If it had planning permission for housing I suppose it might be worth a few hundred grand, but in practice the fact that it's next door to an industrial unit called "Flightpath Farm" suggests a couple of reasons why it wouldn't actually be very desirable as housing.

Nobody is going to offer you £71K (or indeed, anything at all) for a random few square meters of that cheap tarmac in the middle of a yard owned and controlled by someone else.- unless they're just hoping to hook you into parting with even more money. You need to understand that you have bought something wich has no value, and that your money is gone. The sooner you realise that, the less risk you will have of falling victim to recovery scams.

Zanderman

Katiewhy2 wrote: »

Its on a site plan- Its on the land registry details.

dividendhero wrote: »

Have you paid £4 and checked with the land registry? It seems very odd that they've broken up a car park into hundreds of plots and got someone to do a conveyencing transaction on them all

Just following up dividendhero's question - have you checked the official records Katiewhy2?

If you have and there's a space in your ownership that's fine, but if you just have a plan provided by the 'investment' people saying that it's from the land registry then it probably isn't fine. It would, surely, be worth checking by making a formal request to the registry.

It would clarify your position. If there isn't a plot in your name with the registry then you don't have a plot in your name.

Malthusian

Zanderman wrote: »

It would clarify your position.

It would waste Katiewhy's time and mental energy on top of the money she has already lost.

Regardless of whether she has something in her name on the Land Registry or only in Park First's records, the money is gone and nobody is going to buy the space - not for anything close to what she paid for it, at least.

Group First has lawyered up in an attempt to defend the Government's winding up petition that will finally be heard in court next month. That is where the money is going at the moment, not repaying investors. Even though that action only involves Store First and not Park First, it will probably become clear in the next few months whether Park First will continue to string investors along with the "buy back" pretence, or give up the ghost and go into liquidation.

wastedtalent

assumign this is the right place, taken from the previous post re google maps, it does look like each space is registered as a separate lease on top of the freehold:


https://imgur.com/a/o7C3BCT


Thats as far as I can get without paying.

Zanderman

Malthusian wrote: »

It would waste Katiewhy's time and mental energy on top of the money she has already lost.

Agree. But Katiewhy seems to persist in believing she did get assigned/did buy a space. And persists, on this thread, in looking for advice about redress. Getting a definitive answer on whether she did (or did not) 'buy' a physical space might help with acceptance that the money has gone. Not saying it's worth doing in money and time terms, but might be worth doing for peace of mind. But that's just a view, your's may differ!

Katiewhy2

I think I'm posting , not just for advice, but to seek people in a similar boat as me- Also to warn other people about this and possible future investments.

Pruksa

Be careful. It appears this company is set up by the Park First Group.