Landal Belvedere go into administration

jimjames

mangoapple123 said:

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. 

 I'm speaking to a solicitor at the moment so hopefully it will be okay

Sadly engaging a solicitor is unlikely to have any impact on returns apart from reducing them because you've had to pay the solicitors fees. The link on the first posts to Companies House shows the administrators estimate 15p in the £ could be recovered which would equate to £12540 on your investment. The bad news is that they then state that this is unlikely to be correct because the director has not given accurate information about the creditors owed money. As this is a formal administration if there is no money in the pot then it doesn't really matter who chases the site owner the result will still be the same so the solicitor will be wasting your money. The only benefit would be if they can verify the information given here for you.

If Knight Knox have any FCA authorisation for investments you may have a case that route, alternatively contact Knight Knox if it was arranged through them to ask what is happening if they said it was safe. They may also be part of the Estate agent ombudsman.

Knight Knox appear to have no shortage of money from selling these schemes, they paid out £1.9million in dividends for their most recent accounts.

https://find-and-update.company-information.service.gov.uk/company/05236745/filing-history

The people selling these unregulated investments really are scum for telling people it's safe.

Eyeful

mangoapple123:
This may be of help to you in future:

LOW RISK SAVINGS BONDS: are regulated.

You get them from either:-

(a) NS&I, which is a loan to the UK goverment.

b) Bank/Building Society covered by the FSCS protection (at present up to £85K).

When savings products cannot repay you your money. The FSCS will repay you (up to £85K)

SAVINGS: Money is in a safe place & not at risk. You expect to at least take out what you put in.

Money need within 5 years should be kept in a savings account.

OTHER BONDS: are unregulated investments, where there is the potential loss of all your money.

Somewhere there should be a warning about this risk to your money.

They are INVESTMENTS (not savings).

INVESTING: Putting your money at risk where there is the potential loss of all your money. 

You hope to take out more than you put in, but this is not guaranteed.

Think of investing for at least 10 years at least.

Investments are not covered by the FSCS protection 

Eyeful

mangoIapple:
If you do ever think of going into investing again, I suggest you watch this first: 
https://www.kroijer.com/
Then consider a low cost passive Global Multi Asset Fund, set at a share/bond split you are comfortable with.
Example: https://www.hsbc.co.uk/investments/products/hsbc-global-strategy-portfolios/#balanced

jimjames

Eyeful said:

mangoapple123:
This may be of help to you in future:

LOW RISK SAVINGS BONDS: are regulated.

Investments are not covered by the FSCS protection 

Problem is that many of these outfits skirt around the definitions and most avoid any mention of risk. Have a look for any risk warnings here. 

https://gladeparkinvestments.co.uk/landal-belvedere/

They also use words like guaranteed where the average person probably wouldn't think to ask "who is guaranteeing it and what is their status". Rather sad to see that their website is still active promoting sales when there are investors that may have lost most of their investments despite the claims made.

Google reviews also follow the usual pattern of people saying how fantastic they are for making payments before all turning negative when the payments stop and company folds.

Albermarle

jimjames said:

mangoapple123 said:

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. 

 I'm speaking to a solicitor at the moment so hopefully it will be okay

Sadly engaging a solicitor is unlikely to have any impact on returns apart from reducing them because you've had to pay the solicitors fees. The link on the first posts to Companies House shows the administrators estimate 15p in the £ could be recovered which would equate to £12540 on your investment. The bad news is that they then state that this is unlikely to be correct because the director has not given accurate information about the creditors owed money. As this is a formal administration if there is no money in the pot then it doesn't really matter who chases the site owner the result will still be the same so the solicitor will be wasting your money. The only benefit would be if they can verify the information given here for you.

If Knight Knox have any FCA authorisation for investments you may have a case that route, alternatively contact Knight Knox if it was arranged through them to ask what is happening if they said it was safe. They may also be part of the Estate agent ombudsman.

Knight Knox appear to have no shortage of money from selling these schemes, they paid out £1.9million in dividends for their most recent accounts.

https://find-and-update.company-information.service.gov.uk/company/05236745/filing-history

The people selling these unregulated investments really are scum for telling people it's safe.

OP - If you have any paperwork from Knight Knox, you need to read it very carefully, especially regarding how they highlighted any risks involved with this investment. ( if there were any)

edgex

Wonder why the OP didn't look up Apple Invest on Companies House?

https://find-and-update.company-information.service.gov.uk/company/11004176/officers


There was only two Directors, this ones interesting
https://find-and-update.company-information.service.gov.uk/officers/h25lcNZGwqnco3cvCQM4avOcICE/appointments
They have history
https://find-and-update.company-information.service.gov.uk/company/08480469/filing-history


Some interesting company names with this person as a Director
https://find-and-update.company-information.service.gov.uk/officers/5LYbNrzRZ_njVtHLHz9CXQtZyII/appointments



Nearly all the charges for Apple Invest go back to entities registered in the Isle of Man...
https://find-and-update.company-information.service.gov.uk/company/11004176/charges

Inthistogethernow

mangoapple123 said:

Last year I invested in landal belvedere for a lodge under a 5 year contract. 
Initial investment £84,950, with 8% net yield per year rental income, equated to £6796.
And buy back rate for 110% so £93,445, overall return £42,475.

For the first year received rent on time, then in June when due to receive rent they stated it would be late, then got another email from them stating it would be delayed further. Now have received an email saying the company Apple invest ltd who own landal barnsoul have gone into administration. They have sent an email with a debt form and have asked investors to sign and state that they agree with payment proposal.

However it only states "The entity that owns Landal Barnsoul is Apple Invest Ltd, the company has been placed into administration in order to resolve the dispute. We have informed the administrator that we wish to redeem the facility initially set up to fund the purchase and development of the sites and await their reply. Following confirmation the administrator will accept payment, we will then set up a new facility in order to exit you from this investment as per your contract. Once the administrator has accepted our payment we will be able to contact the park operator to release the rental income and bring your payments back up to date in the meanwhile." 

Anyone know what I should do, contacted solicitors waiting some advice from them.

Hi, I am also an investor and have not been informed by Belvedere of any of this but was contacted by another investor who let me know that the administrator are forming a creditors committee and want to hear from all investors as not all of their information has been shared with the administrator.  You can also submit your Proof of Debt form to them. The administrators are McAlister Co. Hope this helps.

RoChJa_2

We invested in 2020 but the park our plot was supposed to be on never progressed du to planning contraventions so we are on a stickier wicket. Landal promised 2 weekly updates if the company went into receivership. None so far...
Wondering if anybody knows of an investors' action group?

phillw

Unless this title deed is registered on the land registry, then I wouldn't hold much hope that it's valid

You should contact the administrators

axolotl56

Apple Invest Ltd owned 2 sites with lodge investments marketed as Landal Barnsoul and Landal Belvedere.  Landal Belvedere (Barncrosh) has no planning permission. Landal Barnsoul (Barnsoul) has planning permission for 46 lodges. There are no title deeds registered for the lodge plots.  Belvedere Leisure Resorts plc a partner of Apple Invest ltd are suing Apple Invest ltd for breach of contract.