Victoria House Leeds

Yep the communication has been almost non-existent, particularly from the developers who never, ever respond to emails. I don't believe the project is in trouble - it's completed and apparently fully sold/occupied, and my money has always come through eventually. It's just frustrating when there are delays like this every single quarter. And as you see above, it seems some people haven't been paid at all and, like me, have had to threaten or indeed take legal action to get things moving.

 

Letting agent - Urban Bubble - not responding to emails either. Continually boast about their expansion, hiring new staff etc on Facebook, yet won't even pay their landlords what they are owed.

 

One question which has always bothered me - if developers gain a record for not paying their investors, how do they raise money for new developments with banks? Or do they split each development into stand alone businesses?

 

No idea, but Google the developers - Elliot Group - and you'll see they clearly have plenty of cash and lots of projects in progress. But I sincerely hope buyers won't be fooled into purchasing from them, they're no better than crooks in my opinion.

 

All investors have just received an email from the management agent - Urban Bubble - basically absolving themselves of any responsibility for paying the guaranteed yields & now only paying 'live yields', with Elliot Group now the point of contact for guaranteed yields. What an absolute shambles on all sides.

 

Me here. Not getting the promised yield and glad to get connected here with you buyers

 

We should gather all buyers together to form a group to do something about this. All what was written on their emails by UB and EG last week was one-dimensional and can chop and change whenever they feel like it. No respect for contractual agreement or whatsoever and yet they are getting away with this.

 

I think they create a business entity for each new development project and then another one for another new development etc. - all limited companies.