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

Discussion in 'General Property Investment Discussion' started by Waqas, Dec 30, 2018.

  1. Richard P

    Richard P New Member

    I suppose we've all had the e-mail from Emerging Properties' Andrew Crump. It seems that Alpha owe them money as well, so they should be well & truly on our side.
    Loss of contact with the two directors of Alpha is not a good sign.
    I've sent a copy of the two messages (re: Alpha Student Management, & Green Parks Holidays(Ilfracombe) Ltd to Charlotte Munroe at Gordon Brown Law Firm.
    I'm also considering contacting Action Fraud section of the Police as this seems like a nationwide problem, however, I'll wait till I get a response from GBLF, hopefully on Monday 7th.
     
  2. techno

    techno New Member

    Found these online of residential addresses of the 2 ASM owners referred to by Andrew Crump of EP in case anyone lives close by:

    Mr Nicholas John Spence born 5/1972 Address: The Mill House West Lane, Leicester, LE7 9AP

    Derek Kewley born 5/1973 Address: 53 Darlington Road, Stockton On Tees, TS18 5EP
     
  3. Richard P

    Richard P New Member

    The address for Kewley at Stockton appears to be an office block (Google Earth), so probably just an unmanned postal address.
    His home address seems to be: The Mill House, West Lane, Billesdon, Leicester. LE7 9AP (Companies House & Google Earth)
    Spence's address appears to be: The Hollies, Skeffington Glebe Road, Tilton-on-the-Hill, Leicester. LE7 9FJ - from same sources.
    Both home addresses look to be very nice properties!
    By searching Companies House, checking with Google Earth & Zoopla, it seems that all other pertinent addresses associated with current directors of Alpha's various companies are all unstaffed offices.
    The trading address for Alpha Student Management Ltd. is: 43 Woodgate, Loughborough. LE11 2TZ. 01509 213773
     
  4. Legal_Landlord

    Legal_Landlord New Member

    A flat at Foundry 2 at 43 Woodgate Loughborough has just been advertised for sale on Rightmove

    Still offered with an assured rent until 2026

    Has anyone else not been paid in full ?
     
  5. Cec8

    Cec8 New Member

    please keep using this forum too as some of us are not on Facebook. Thanks.
     
  6. Brave Man

    Brave Man New Member

    Hi Waqas, I also bought in Green Parks Holidays(Ilfracombe) Ltd and in the same situation like you. I don't understand the relation between them and the student property. Unfortunately this was expected to be my first rent. Please let me know how to join for a collaborative action altogether.
     
  7. Brave Man

    Brave Man New Member

    And should you move this post to the UK Property forum instead of this general one to get the involvement of the relevant people ?
     
  8. tjpb2a

    tjpb2a New Member

    I have the same issue at Scholars Village in Bradford.
     
  9. Veronica

    Veronica Administrator

    Please do not promote competing services such as WhatsApp and facebook. This forum is designed for people to discuss their problems and pushing users towards other services is against forum rules. Thank you
     
  10. tjpb2a

    tjpb2a New Member

    Interesting that ASM was only incorporated on 6th Feb 2017 per Companies House.
     
  11. Mel70

    Mel70 New Member

    Hi Waqas, I have just noticed this discussion. I have owned my property since 2017 (only one) was just thinking of doing another - has anyone owned theirs longer?
     
  12. RN558

    RN558 New Member

    K
     
    Last edited: Jan 18, 2019 at 8:57 PM
  13. Ferdaws8

    Ferdaws8 New Member


    Any update?
     
  14. Ferdaws8

    Ferdaws8 New Member


    Any update?
     
  15. Ferdaws8

    Ferdaws8 New Member


    Whats this number?
     
  16. Lotus123

    Lotus123 New Member

    Dear Waqas Anis,

    I am also an investor of student units in Q Studios and have also not received my rents from A1 Alpha Properties.

    I purchased a Unit 329- Q Studios form Alpha Developments (under a Main Lease for 250 years) where Alpha Developments is the landlord and I am the tenant.

    Then, an Under-Lease was executed with A1 Alpha Properties where A1 Alpha Properties is the tenant and I am the landlord.

    I have been trying to contact both Emerging Property and GB Law firm about this situation and sending them emails but neither one is responding.

    If anyone has some accurate information about the current situation please send it to me and also include me in your conversations.

    For now I have the following additional questions and would appreciate any responses:

    1. Which one of them has filed for insolvency (Bankruptcy Protection): Alpha Developments or A1 Alpha Properties?

    2. If A1 Alpha Properties does not pay our rents are we still obligated to pay rents to Alpha Developments (how and where)?

    3. Are we still obligated to pay Ground Lease payments (how and where)?

    4. Presently, who is paying the Ground Lease obligations or are they past due?

    5. What happens if the Ground Lease payments are not payed? Can the Ground Lessor foreclose on all the individual property owners (like me) and is there a due process protection for the individual unit owners?

    I am not familiar with the UK Bankruptcy Laws but under the USA Bankruptcy laws if the Ground Lessee (i.e. Alpha Developments) files for bankruptcy, and if the Ground Lessee does not assume any exiting contracts or leases within 60 days, then all such contracts, Ground leases, leases and under-leases are automatically rejected, terminated and cancelled by operation of law. If this is also the case under the UK laws, then this risk needs to be considered because otherwise all the Buildings will revert to the Ground Lessor free and clear from any contract and any leases.

    If such laws are also applicable in the UK, then there might be a risk with maintaining our property interest.

    Therefore, we need to find out about the status of the current situation and take immediate action.

    Regards,

    Kimon Sagredos
     
    Last edited by a moderator: Jan 12, 2019
  17. Veronica

    Veronica Administrator

    please do not post personal contact details. Also please do not promote competing services. This forum is designed to allow members to discuss problems without having to go to other forums or groups. Anyone constantly promoting competing services may be banned from this forum. Thank for understanding.
     
  18. Antoinelondon

    Antoinelondon New Member

    Hi waqas, i bought 2 properties with them, scholar village in bradford and one in huddersfield and facing the same issues than everybody else. Count me in
     
  19. PYL

    PYL New Member

    I am an investor of Q Studio from Asia. I bought it through a local agent and I was told one of the director had gone to uk to meet up EP and hopefully we'll get more info on the situation in a few days.
     
  20. RN558

    RN558 New Member

    K
     
    Last edited: Jan 18, 2019 at 8:59 PM
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