Emerging Property

Discussion in 'UK Property' started by gayallen, Jul 29, 2015.

  1. gayallen

    gayallen New Member

    Anyone had any experience - good or bad about this company? Am looking at investing in student accommodation rooms in a new complex being built in Preston. Have read a few negative comments about the company when I ran a search earlier then came across this site so thought I'd ask before proceeding.
     
  2. John_1453

    John_1453 New Member

    I looked at that property as well, and was seriously considering buying it. Actually I reserved one flat, but then I backed down. Concern I had are:

    - who is behind this company? I have been unable to find any information as to the owners. This is strange!
    - why are the flats so expensive? 50,000 for a 15 sq. ft. room in Preston does sound very expensive. One reason is that they sell it at much higher than the construction price (maybe double), so as to guarantee 10% income for 10 years.
    - there is a flat on sale by another company for 42,000, with guaranteed income of 7% for 5 years. So if the company (emergingproperty) goes bust, I will probably lose 50% of my down payment

    At the end of the day, if it's too good to be true, it's probably not true. Although they have a good track record (as far as I can see, since there are no negative comments online, of investors who lost their money) it might be a ponzi scheme, since they seem to be building 2 properties a year for the last 5 years. So it's a new company that has grown very fast, and promises the moon. Based in Dubai. Yes. It can be a ponzi scheme.

    10% income for 10 years is a bit too generous to believe...
     
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