Credit crunch forces Anthea and Grant to cancel their summer ball

pararct

http://www.dailymail.co.uk/pages/live/articles/showbiz/showbiznews.html?in_article_id=559273&in_page_id=1773
By KATIE NICHOLL and DANIEL BOFFEY Daily Mail

Mr Bovey, 46, who owns a property development business called Imagine Homes, which depends on the highly volatile buy-to-let market, yesterday denied that he and his 47-year-old wife had been personally hit by the economic downturn.

"I am sitting in our €6million [£5million] chateau in Megeve in the Alps right now. I will sue anyone who says that Imagine Homes is in financial difficulty. We are 20 per cent owned by HBOS and we have huge profits that have yet to materialise.
"We have huge tower blocks in Canary Wharf and various other sites that will generate huge amounts of money. These developments sold out 18 months ago. They are all sold so we're in a very fortunate position."

Oh Dear perhaps all is not well in the Bovey Household.....

Generali

...huge profits that have yet to materialise...

There's an old City expression - cash is fact, anything else is speculation.

jamescredmond

well spotted. so imagine homes are about to become imaginary homes.

never did like this bovey character but didn't couldn't quite work out why.

now I've discovered he's a property developer whose boasts about his alp chateau are quickly followed by threats of litigation. in just a couple of sentances he has vindicated my initial thoughts of him.

'.....we have huge profits that have yet to materialise.......'

eh??

a large no. of people are going to get hurt by the crunch, but this is one species of pondlife I won't be shedding tears for.

tomstickland

I will sue anyone who says that Imagine Homes is in financial difficulty. We are 20 per cent owned by HBOS and we have huge profits that have yet to materialise.

That me laugh about the same amount as London and Country saying to me "we will plant 50 trees for every mortgage sold" this morning.

That £1 people put on the lottery, they often say "yes, we have massive profits that we're waiting to materialise".

tomstickland

From the imaginehomes website:

You choose a property from our large portfolio of off plan new build properties, all selected for their high rental yields and capital growth potential. We find the tenant and manage the property for the first two years post completion. After the two years you can inherit our tenant, sell the property, rent it out or move in.

All looks very familiar.

avantra

The old cliche comes to mind:
..when the client owe the bank a £100 and can't repay the client is trouble, if the client owe the bank £100,000,000 and can't repay the bank is in trouble..

I can hardly contain my grief

pararct

Of course the cancellation is nothing to do with the fact that a Bank probably HBOS will own his Mansion and pad in the Alps come the summer??

Things must be worrying for him if he feels he has to resort to threatening litigation.
Perhaps he is reliant on funds from the market that might bail out if there is a sniff of trouble?

trudiha

For the love of God, the poor man is married to Anthea Turner, do you really need to kick someone when they are already so down? He might be a property developer but has the milk of human kindness really soured to that extent?

BobProperty

Quote:
.....We are 20 per cent pwned by HBOS......
FIFY as they say.:D

FraudBuster

Interesting times.

Kez100

20%..........and rising