Up to 15% return Invest in Manchester property

EdGasketTheSecond

http://investorchronicle.com/Victoria-Mill-ICD

Looks like it has Investors Chronicle approval but probably just an ad with them.
Who wants to live in Manchester anyway??
Treat with extreme caution!

dunstonh

Classic example of an advert aimed at greed.

15% in big letters. Up to in little letters.

So, anything that says upto 15% could return 1% and still correct. In fact, the only breach would be if it returned above 15%. No mention of losses either until you get to the really small text at the bottom.

And the corporate guarantee is worthless. If this was a regulated investment they would not allow the use of the word guaranteed as its not.

bowlhead99

Lol, it doesn't have Investors Chronicle approval (the well known and longstanding investor magazine which can still sometimes pump some pretty poor or high risk deals among the other stuff they do).

Instead it's "brought to you by" Investor Chronicle, a name made up to sound like the one people have heard of, with a web domain first registered only two years ago and a totally different logo.

Another one to run a mile from.

Estate agents have been selling Signature Mill (Lower Vickers St) off plan for a while, using those photos among others. "Victoria Mill" per your link just seems to be a made up name to sound a bit realistically Northern so that out-of-towners won't actually Google the real property and might speculatively throw money at it based on getting the spam link from "investor chronicle".

Ooh, a 'corporate backed' guarantee? So if that particular corporate entity doesn't go bust (a new company can be registered at companies House for <£100) I'll definitely get my 'up to 15%' guaranteed rent. Where do I sign?!

Oh I have to give them my personal details to get on their spam list before they give me more info...? Maybe I'll just pass.

Thanks for sharing it with us though, another unregulated investment scam that you know to be misleading is just what this forum needs. Not!

jamei305

I'll match their offer including the total capital loss bit, but I'll give you up to 20%.

This is in prime holiday property located in Hemsby on the picturesque Norfolk coast, all backed by my personal assurance.

EdGasketTheSecond

Can they get away with plaguarising the real Investors Chronicle in that way?

eskbanker

Perhaps as well as shortening 'investors' they should have truncated the 'chronicle' as well, to omit the last two letters?

dunstonh

EdGasketTheSecond wrote: »

Can they get away with plaguarising the real Investors Chronicle in that way?

Spoofing is a very common fraud.

bowlhead99

Fair enough Ian I retract the bit about it being a made up name to sound the part. Looking on a map you are clearly right!

Still, if other agents are calling it by the development name and these guys are not (as well as hanging on the coat tails of Investors Chronicle's name to lend credibility) it doesn't bode well.

Signature were offering two years 8% rental guarantee when they were pre marketing it a couple of years back, conditional on you buying off plan, taking their furniture package, and giving them the contract to do your marketing, letting agency and management work. One would assume that the most marketable units were already snapped up, based on the nice photos looking up to the blue sky behind the characterful Victorian towers rather than looking down to the somewhat downtrodden-looking Manchester City Regeneration Zone.

Perhaps the developer and other agents' marketing failed so spectacularly that these guys are now having to offer at such as low price as to be offering 15% guaranteed rent. Or, perhaps there is some sort of ruse afoot to tempt investors who wouldn't normally be interested in this sort of thing and should probably run a mile.

EachPenny

jamei305 wrote: »

This is in prime holiday property located in Hemsby on the picturesque Norfolk coast, all backed by my personal assurance.

The direct access to the beach offered by these properties makes it an investment opportunity not to be missed.