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

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Richard P

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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.
 
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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
 
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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
 
L

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 ?
 
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Cec8

New Member
please keep using this forum too as some of us are not on Facebook. Thanks.
 
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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.
 
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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 ?
 
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
 
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tjpb2a

New Member
Interesting that ASM was only incorporated on 6th Feb 2017 per Companies House.
 
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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?
 
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Ferdaws8

New Member
The payment for my unit at Ilfracombe Holiday Village has still NOT come in today, 3rd, so this problem seems to effect most if not all Alpha properties.

I'm waiting from a response from Andrew Crump of Emerging Properties & Gordon Brown Law Firm who handled the initial purchase & lease back of my units. I'll post a summary of their reply when I get one.

Any update?
 
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Ferdaws8

New Member
I am a EP/ALPHA customer in Asia,I knew people in Asia with the same situation.I think maybe it's time to report to the "Action Fraud agency" 03001232040 .I truly believe they know how to deal with these guys. I think It is a very serious issue,because many students now lived in our units or prepare to move in in the future.As far as I knew, the latest student accommodation of EP/Alpha is named as QSTUDIOS with over 300 rooms in stoke on trent. We have the obligation to protect both we and them from Alpha which is out of contact now...I really hope alpha can explain to us before situation getting worse and worse.

Any update?
 
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Ferdaws8

New Member
I am a EP/ALPHA customer in Asia,I knew people in Asia with the same situation.I think maybe it's time to report to the "Action Fraud agency" 03001232040 .I truly believe they know how to deal with these guys. I think It is a very serious issue,because many students now lived in our units or prepare to move in in the future.As far as I knew, the latest student accommodation of EP/Alpha is named as QSTUDIOS with over 300 rooms in stoke on trent. We have the obligation to protect both we and them from Alpha which is out of contact now...I really hope alpha can explain to us before situation getting worse and worse.

Whats this number?
 
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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
 
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Veronica

Veronica

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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.
 
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Antoinelondon

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