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Calling all investors impacted by Alpha Student Management and Emerging Property LTD

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RN558

New Member
I think we( investors) should try to meet somewhere in London...what do you all think.
 
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Legal_Landlord

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Spence and Kewley both resigned as Directors of Alpha Student Management Ltd today. Also from A1 ALPHA PROPERTIES (LEICESTER) LIMITED
 
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bbb45

New Member
We need legal representation asap. No time for delays. I'm London based. For those who are local we should meet up at EP office at St James square, SW1. We should request EP also bring there solicitors so we can discuss the situation.
 
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bbb45

New Member
Realistically I think we should meet locally in central London with as many that can make it. I could meet Sunday afternoon between 3-5. I could email Andrew from EP to contact other London based investors to see if they would like to join. Its a start. Gordon Brown will be sending through updates hopefully this week.
 
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Janeygw

New Member
I think its best if we met in a London Hotel or hotel near Heathrow ( eg Holiday Inn) as investors might want to fly in from different parts of Uk and it has to be a weekend as most of us could be free. The offices in St James of EP is a just shell office i.e none of EP's people are there. A common receptionist would answer calls for all the office tenants there.When I had the meeting with Westley we sat in a hired room. Westley has left as he must have known this was coming perhaps. How can we get more participants as most investors are not on this forum. My e-mail address is [email protected] which is only for arranging this meeting and not any other soliciting purposes. I suggest this Sunday( 11.00am) at the Holiday Inn Heathrow.
 
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Janeygw

New Member
I’ve emailed you re: potential investor meeting - is the address correct? mail has been returned, unknown recipient.
 
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Janeygw

New Member
I have the same issue at Scholars Village in Bradford.
I invested in Scholars Village Bradford too, after being convinced by EP that the ten year underlease was contractually binding as I’m sure everyone else was! It obviously wasn’t worth the paper it was written on if Peter Sullivan thinks he can basically tear it up and start again... I have received another email from Stewart Hill urging me to sign the revised underlease, surely only a fool would do that.
 
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stuffed landlord

New Member
This is message for all investors impacted by Alpha Student Management (ASM) and Emerging Property LTD.

I bought a Student studio buy to let property via Emerging Property ltd with guaranteed 10% yield for 10 years. Recent email from Management company indicates no rent payment for 3q18 and 1q19 and reduce rent going forward.

If you are impacted pls get in touch we need investors to work collectively to fight for breach of contract.

Thanks
Waqas Anis
Hi Waqas,
I too have several properties purchased through EP Ltd first of which was purchased back in 2015. These range across 3 sites, Foundry, Jubilee Court and Tudor Studios. I am in a similar position to you and other investors whereby rent is outstanding for 3q 18(due 1/10/18) and 4q 18(due 1/1/19). Also received emails from management company trying to change original contracts going forward.
We are totally reliant on the rental income as both myself and my wife are unable to work due to serious health conditions.
I would like to stay in touch with you and fellow investors so that we have a strong base to fight this breach of contract. I am all for collective action with, hopefully, help from EP Ltd and GB Law firm.
I say hopefully because, so far, I have been unable to get in touch with anyone at EP Ltd who I have previously dealt with. Landline phone number is no longer recognised and no emails have been answered.
 
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colinb

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I have a property in phase 4 of westbeach for which I have paid 80% and exchanged on but not completed - completion date was meant to be 2018 but my first worry was I was told in the late summer of 2018 it would be delayed to Feb 19 and now this.... - obviously concerned to hear about everyone’s problems with their properties and I am worried I will have lost 80% of my investment in the holiday apartment in west beach in Westward Ho

If other investors in uncompleted phases in Westbeach have any input or advice then please let me know

I contacted Gordon Brown and they have said they will send out an update in due course
 
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rahaly

Member
I too have several properties purchased through EP Ltd in several projects student ac and Green park holiday .
If A1 Alpha has problem with the managment company for the student properties why they didn’t pay for the holiday property ?
 
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rahaly

Member
We are talking about the missing rents only , but what about the other rents?
☝ASM asked us to manage our properties our selves if we want to (to push us to except there new managment offer) , if We want to do so how can we ? many of us are far away from there properties (like Me I am outside UK but now I am her for few days only) , So I think that the best choice We have now is to become one group to have the best Management company together , in this case we can’t contact all landlords nor most of them , so the best if not the only choice for us is to use EP which they Know most of the landlords to contact them (as they are doing now) to use the same solicitor and the same Management company together , to pay less fees and to be in butter legal position (*Remember that EP don’t have any obligation to do this job, I don’t know if they will continue to do it to the end)
In this stage, I think that We have to find how to but our hands on our properties while there are tenants We don’t have any contact with them , in the same time We have to transfer the managment directly to another Management company in this case we will Reduce our lost, butter than looking for the missing rents in the time we are losing more rents every month , so we have to stop our continuance lost first then We look for the missing rents which may take long time
 
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skint

New Member
Hallo,
I'm in the same mess you guys are in. I have purchased a student flat at Q studios. Very little information from EP. Gordon Brown law firm have to date issued no statement. I can't even get an answer from Emerging Property to confirm the flat is completed. Is there anybody living near Stoke area who could confirm the status of the Q studios development. Gordon Brown Law firm issued an instruction that inspections had been performed and the bathrooms and kitchens where fitted and the build would complete on the 4th October. From reviewing the Alpha properties management site it appears the build is not ready yet? I can't attend a meeting
but will follow your progress.
 
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Propertyconsultant1

New Member
Hi Property Consultant1 , you did a good job, however there are landlords that have properties in Ilfracombe Holiday Parks, Westward-Ho, Student properties all sarted by Greenparks and Alpha and I was led to believe that about 300o0 properties. Gordon Brown solicitors alone did about 2000 conveyances. A whatsapp group id being formed by someone and I suggest you contact [email protected] who is acting somewhat as an administrator to get all landlords affected. Hopefully we will get another update later this evening hopefully from Andrew-EP
Many thanks, I have sent an email at the contact provided above as suggested. Let's get in touch if we are going to get another update from Andrew EP later today. Best
 
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JB1

New Member
Dear All,

I represent some Landlords who purchased some units between Hub Q (Q-Studios) and Horton House (Scholars Village) in the last months/years. Following the unpleasant news that the rents have not been paid on the 1st of January, I manage to go by train to Stoke and Bradford to double check and understand in person what is the current status of both student accommodations (as no updates came through Alpha Properties).
Please note that:

- The Q-Studios is not yet completed and still under construction (however, nearly to be completed),I took some pictures for the records;

- The Scholars Village is actually regularly working, students are living inside and there is an Alpha Management office open Monday to Friday 9am to 5pm. I took some pictures for the records.


We look forward to receive an update from Emerging Property asap with a legal advice by Gordon Brown firm. Following this, I assume we all agreed that a collective action against Alpha Properties is needed as soon as possible and on the other hand find another management company which may step in and continue the management and the payments as expected and planned by all the investors.

I would suggest to create an email group or whatsapp group in order to keep all updated on the next steps.

Please let me know.

Best regards.

I have an investment in Tudor Studios, Leicester.
Additionally to your comments above, the Alpha Student Management (Loughborough) website, which runs all the lettings of the student properties, is still soliciting bookings for the 2019/2020 academic year. Obviously we need to ensure that future rental receipts are ring fenced asap.
Moreover it is clear that the going rate for gross rentals is substantially less than the promised NET income per unit, at least in Leicester. I may have been slow to cotton on to this, but presumably what it means is that our net receipts were to be subsidised for the first ten years out of the capital cost proceeds. So if we take back control in the future, we will never reproduce the promised return.
 
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Julia Macmillan

New Member
I have an investment in Tudor Studios, Leicester.
Additionally to your comments above, the Alpha Student Management (Loughborough) website, which runs all the lettings of the student properties, is still soliciting bookings for the 2019/2020 academic year. Obviously we need to ensure that future rental receipts are ring fenced asap.
Moreover it is clear that the going rate for gross rentals is substantially less than the promised NET income per unit, at least in Leicester. I may have been slow to cotton on to this, but presumably what it means is that our net receipts were to be subsidised for the first ten years out of the capital cost proceeds. So if we take back control in the future, we will never reproduce the promised return.
Hi I too have a property at Tudor Studios. What did you think of the communication from Emerging Property last night? I found it really weird that Andrew Crump is trying to herd us all to go with a lawyer and insolvency practitioner of his choosing. This seems very strange. I think we need to find a way of all getting together and finding our own legal representation. Has anyone sought independent legal advice yet? My name is Julia Macmillan
 
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Julia Macmillan

New Member
Realistically I think we should meet locally in central London with as many that can make it. I could meet Sunday afternoon between 3-5. I could email Andrew from EP to contact other London based investors to see if they would like to join. Its a start. Gordon Brown will be sending through updates hopefully this week.
I would like to come to this meeting on Sunday in London.
 
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