Landal Belvedere go into administration

Albermarle

flaneurs_lobster said:

Eyeful said:

Please tell us
1. How you came to hear about this investment opportunity?
2. What research you did into this investment before handing over your money?
3. What attracted you to this particular investment ahead of something like a stock market fund?
4. How long have you been interested in investing?

Can probably answer Q3 for the OP, 8% return on £85k for five years. I mean, why wouldn't you......

As there was also a ‘guaranteed ‘ uplift in the property price of 10% over 5 years, the promised return was 10 % pa in total, so even ‘better’

Hoenir

Albermarle said:

flaneurs_lobster said:

Eyeful said:

Please tell us
1. How you came to hear about this investment opportunity?
2. What research you did into this investment before handing over your money?
3. What attracted you to this particular investment ahead of something like a stock market fund?
4. How long have you been interested in investing?

Can probably answer Q3 for the OP, 8% return on £85k for five years. I mean, why wouldn't you......

As there was also a ‘guaranteed ‘ uplift in the property price of 10% over 5 years, the promised return was 10 % pa in total, so even ‘better’

Never been a shortage of limited company owners using other people's money to speculate with. 

Albermarle

flaneurs_lobster said:

Eyeful said:

Please tell us
1. How you came to hear about this investment opportunity?
2. What research you did into this investment before handing over your money?
3. What attracted you to this particular investment ahead of something like a stock market fund?
4. How long have you been interested in investing?

Can probably answer Q3 for the OP, 8% return on £85k for five years. I mean, why wouldn't you......

I might guess another answer to Q3 is that the OP ( like many people) felt that they were more comfortable with property than the stock market. The latter has a perception amongst a lot of the public of being complicated and risky, whilst property is ( wrongly) seen as a solid low risk investment. 

jimjames

mangoapple123 said:

Hoenir said:

Albermarle said:

Any idea what this dispute is?

Comprehensive administrators report on Companies House. Appears extremely messy with person at the centre somewhat uncooperative. 

Once again we sincerely apologise for the delay with your payment. This has been due to an internal dispute between the park owner and construction project manager. The park operator has therefore made the decision to retain income received from holidaymakers until the dispute has been resolved. We have of course objected to this and it is currently in legal dispute.

It seems very unlikely that the income deriving from a specific unit is attributable to you. If it was there is no way they could guarantee 8% income as there may be periods empty etc so there must be some mechanism to distribute income across all lodges. How that happens is up in the air but as previously mentioned there may be an element of Ponzi in terms of using new funds to pay existing investors. It seems unlikely but you might find that you are liable for fees on the site even without income. Look into storage pods for a similar story of selling plots to multiple people.

Have you visited the site to see what has actually been constructed if anything?

mangoapple123

jimjames said:

mangoapple123 said:

Hoenir said:

Albermarle said:

Any idea what this dispute is?

Comprehensive administrators report on Companies House. Appears extremely messy with person at the centre somewhat uncooperative. 

Once again we sincerely apologise for the delay with your payment. This has been due to an internal dispute between the park owner and construction project manager. The park operator has therefore made the decision to retain income received from holidaymakers until the dispute has been resolved. We have of course objected to this and it is currently in legal dispute.

It seems very unlikely that the income deriving from a specific unit is attributable to you. If it was there is no way they could guarantee 8% income as there may be periods empty etc so there must be some mechanism to distribute income across all lodges. How that happens is up in the air but as previously mentioned there may be an element of Ponzi in terms of using new funds to pay existing investors. It seems unlikely but you might find that you are liable for fees on the site even without income. Look into storage pods for a similar story of selling plots to multiple people.

Have you visited the site to see what has actually been constructed if anything?

I think you are right I believed it was legitimate and it was my first investment so I do not have much experience. They have constructed lodges and they are available to stay in so the site is up and running. I received a years worth of rent so I thought that it is legitimate but clearly there is something up. 

mangoapple123

Albermarle said:

flaneurs_lobster said:

Eyeful said:

Please tell us
1. How you came to hear about this investment opportunity?
2. What research you did into this investment before handing over your money?
3. What attracted you to this particular investment ahead of something like a stock market fund?
4. How long have you been interested in investing?

Can probably answer Q3 for the OP, 8% return on £85k for five years. I mean, why wouldn't you......

I might guess another answer to Q3 is that the OP ( like many people) felt that they were more comfortable with property than the stock market. The latter has a perception amongst a lot of the public of being complicated and risky, whilst property is ( wrongly) seen as a solid low risk investment. 

Yeah I went into this because it was through an estate agent company called knight knox and I believed it was safe, I received a years worth of rent. I'm speaking to a solicitor at the moment so hopefully it will be okay

mangoapple123

Eyeful said:

Please tell us
1. How you came to hear about this investment opportunity?
2. What research you did into this investment before handing over your money?
3. What attracted you to this particular investment ahead of something like a stock market fund?
4. How long have you been interested in investing?


 

1. I heard about it through a family member we both joined together to do this investment, this was through an estate agent called knight Knox.
2. Looked on company's house, I should've consulted with a solicitor but didn't as I had reassurance from estate agents that it is legitimate.
3. It was a quick and easy investment.
4. Around a year, this is my first investment so so I am not very experienced 

Albermarle

A scheme can be legitimate and still be risky. They are two different things.
Many perfectly legitimate companies go bust.
However in no way can any investment offering returns of 8 to 10% pa be called 100% safe. If Knight Knox said this was the case and there were no warnings then they are also at fault.

flaneurs_lobster

mangoapple123 said:

jimjames said:

mangoapple123 said:

Hoenir said:

Albermarle said:

Any idea what this dispute is?

Comprehensive administrators report on Companies House. Appears extremely messy with person at the centre somewhat uncooperative. 

Once again we sincerely apologise for the delay with your payment. This has been due to an internal dispute between the park owner and construction project manager. The park operator has therefore made the decision to retain income received from holidaymakers until the dispute has been resolved. We have of course objected to this and it is currently in legal dispute.

It seems very unlikely that the income deriving from a specific unit is attributable to you. If it was there is no way they could guarantee 8% income as there may be periods empty etc so there must be some mechanism to distribute income across all lodges. How that happens is up in the air but as previously mentioned there may be an element of Ponzi in terms of using new funds to pay existing investors. It seems unlikely but you might find that you are liable for fees on the site even without income. Look into storage pods for a similar story of selling plots to multiple people.

Have you visited the site to see what has actually been constructed if anything?

I think you are right I believed it was legitimate and it was my first investment so I do not have much experience. They have constructed lodges and they are available to stay in so the site is up and running. I received a years worth of rent so I thought that it is legitimate but clearly there is something up. 

I have no doubt that you are right about there being actual properties on site but as a potential holidaymaker (and even as a potential investor) they have eluded my Googling to actually find a location, let alone a website where one might book a stay. 

Ayr_Rage

flaneurs_lobster said:

mangoapple123 said:

jimjames said:

mangoapple123 said:

Hoenir said:

Albermarle said:

Any idea what this dispute is?

Comprehensive administrators report on Companies House. Appears extremely messy with person at the centre somewhat uncooperative. 

Once again we sincerely apologise for the delay with your payment. This has been due to an internal dispute between the park owner and construction project manager. The park operator has therefore made the decision to retain income received from holidaymakers until the dispute has been resolved. We have of course objected to this and it is currently in legal dispute.

It seems very unlikely that the income deriving from a specific unit is attributable to you. If it was there is no way they could guarantee 8% income as there may be periods empty etc so there must be some mechanism to distribute income across all lodges. How that happens is up in the air but as previously mentioned there may be an element of Ponzi in terms of using new funds to pay existing investors. It seems unlikely but you might find that you are liable for fees on the site even without income. Look into storage pods for a similar story of selling plots to multiple people.

Have you visited the site to see what has actually been constructed if anything?

I think you are right I believed it was legitimate and it was my first investment so I do not have much experience. They have constructed lodges and they are available to stay in so the site is up and running. I received a years worth of rent so I thought that it is legitimate but clearly there is something up. 

I have no doubt that you are right about there being actual properties on site but as a potential holidaymaker (and even as a potential investor) they have eluded my Googling to actually find a location, let alone a website where one might book a stay. 

Pretty sure it's Barnsoul

https://www.landal.co.uk/countries/united-kingdom/scotland/dumfries-galloway?_gl=1*zne8xy*_up*MQ..&gclid=Cj0KCQjw28W2BhC7ARIsAPerrcK0iDeSLN8fIJu2uKsXB2PYu5fY6nbMlR3xqqAqhZJ02PpWxGyjqvMaApdBEALw_wcB&gclsrc=aw.ds