I think we( investors) should try to meet somewhere in London...what do you all think.
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.
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.I have the same issue at Scholars Village in Bradford.
Hi Waqas,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.
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. BestHi 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
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.
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 MacmillanI 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.
I would like to come to this meeting on Sunday in London.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.