steveb's latest posts

20 Nov 2012 10:34 PM:

Hi Sunflowers, I got the same letter and am seeking advice. Please keep in touch.

Regards, Steve.

Community thread: Anyone not completed? Court action?

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04 Jul 2009 11:26 AM:

Folks, this is the latest from developers. I too have invested and am still hopeful that the project will be very successful.

Dear investor,

We are very proud and excited to give you an update on the planning progress of our development Jardín de Los Reyes.

As we promised in our last Newsletter, we formed a strategic alliance with the world renowned planning architect firm - Fundación Metrópoli, in order to define and finalise the Master Plan for the project in Almansa. I would like to add that this company is the holder of four European Planning Awards since 1994 (bi-annual awards) with the 2008 Award given to them for the Best Sustainable European Eco-City known as Sarigurren in Spain. This Eco-City currently has 5.000 people living there and just 10 years ago was a green field site with 14 inhabitants. This company has a 100% track record in Spain since they began operating in 1986. They are also participating in projects all over the world including Singapore, North America and Mexico. They have very strong planning principles and are pioneers in 21st Century planning techniques.

On Monday 15th June 2009 a presentation was made in Almansa to all of the Local Government Councillors by Fundación Metrópoli, our Technical Team and Planning Lawyers. This was a complete and detailed presentation on the entire project and we are very pleased to announce that our proposal achieved the complete and total support of the entire committee. On this point, it was agreed that a Project of this magnitude is extremely important for Almansa and the entire Region of Castilla-La Mancha due to its many attributes. These include Avant-garde Eco-Villages fused with complete sustainability using renewable energies, complete water cycles and design techniques which are unparalleled in Spain and indeed in the rest of the world.

The driving philosophy of our Company has always been that the Project will bring enormous social and economical benefits for the town. The reality after our presentation is that we are able to confirm the project will create several thousand jobs over the next 15 years whilst still respecting the natural surroundings, history and tradition of Almansa. The Town Hall was astonished by the wealth and richness that our project will bring to the town and all figures and statistics are supported by leading industry experts.

Our Planning Lawyers are now liaising with the Almansa Town Hall to put the final details to the outline planning agreement.

During the past two and a half years, we have always tried to convey to you, our valued client, the scope, importance and incredible potential of our project. Today, more than ever, with the full support of the authorities, we have the pleasure of congratulating you once again on your decision to invest in Jardín de Los Reyes.

According to the contract you signed with our company, we will be approaching in the near future those clients who have not made yet their second stage payments. In the meantime, if you would like to discuss any of the project with myself or the Team, please feel free to contact us on our free-phone number 0808 204 00 88 or our office in Spain + 34 952 766 893

Our warmest regards

Mike Clews & Eduardo Martín.

Community thread: The Banks Cash Point Scam

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04 Jul 2009 11:19 AM:

Folks, I am forwarding this message from Andy on another forum which I thought was a very interesting view -

1. Outline planning permission has been "imminent" for over a year. You should have received an email from MC Consulting in the last two weeks giving a very upbeat outlook, but with no definitive answer to this question. Contractually you should receive a full refund of the stage payment you initially made if the outline planning is not forthcoming by the end of the year. If you were one of the clients who invested at the end of 2006 when the project was first launched, you are going to benefit from the difference in the exchange rate. (Your refund will not include any VAT or legal fees you paid at the time)

2. Despite initial (2006) claims that outline planning permission would increase the value of the land by 30-50% (I don´t remember what was quoted at the time), because of subsequent events in the Spanish property market, outline planning permission will make no significant increase (if any) in the value of the land. MC Consulting and IPIN are still marketing the project (albeit under a different name) and these should be the guys who you approach to ask for an objective value.

3. Full planning permission will be applied for once the outline planning permission has been granted, In your contract you should have a clause refunding any monies paid towards the purchase of the land if this is not forthcoming by December 31st 2011. In 2½ years time, the property market in Spain may have recovered enough that your investment has appreciated in value, but to put a figure on it now is meaningless.

4. Selling on at this stage is difficult. Even if outline planning is granted and you were willing to recover only the €uros that you put in, you will be looking for a purchaser willing to pay 75% of the purchase price now for something that might produce a profit in 2-3 years time. With so many other international opportunities available where you only need to put down (say) 20% deposit with nothing more to pay for 2 years, would this be an investment that you would be prepared to make? MC Consulting did say (at the time) that they would have a resale program favouring those clients who invested early. Again, speak with the agent who sold you the plot and see if this is still the case.

I believe that when people got involved in this project, it was marketed as a minimum 7 year hold. Ignoring all the previous charades and mud-slinging in this thread, it could still turn out to be a worthwhile investment, and I am sure that some people who invested in Bulgaria, Cape Verde, certain places in Morocco and "too good to be true" schemes like Punta Perla, would gladly swap places with you right now.

I hope that this post is seen as helpful. I am not involved in selling the project - just know enough about it. I wish you well. Andy.

Community thread: The Banks Cash Point Scam

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