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Im also an investor of this site, the latest date of completion i have is 2012, not 2010.

Also my contract states that they will pay fees if not completed in time, which initially was great its so far behind - but there is also a limit to what HQ pay back, this is limited to 5k and is taken off the final price ONCE building work is completed - therefore i will get nothing for the delay until its completed which it seems is just 5k off the build price.

I understand you can pick a few up for 105k now still? Im even reconsidering investing again into this site using SIPPs - im still researching this at the moment.

Foz:

Im also an investor of this site, the latest date of completion i have is 2012, not 2010.

Also my contract states that they will pay fees if not completed in time, which initially was great its so far behind - but there is also a limit to what HQ pay back, this is limited to 5k and is taken off the final price ONCE building work is completed - therefore i will get nothing for the delay until its completed which it seems is just 5k off the build price.

I understand you can pick a few up for 105k now still? Im even reconsidering investing again into this site using SIPPs - im still researching this at the moment.

 

Unfortuntately i wasnt, i was working that night so couldnt make the call.

Well its hard to say what theyre going to be worth in 3-4 years time, also theyre only worth as much as anyone will pay for them - for example would you buy a property in Barbados for 250k right now? Maybe not but whos to say another person wont?

It is easy to get pulled into the positives and let the numbers that are presented to you point you down a road - but neither i or anyone else can tell you if this investment is 'worth' it or not as we each have our own ideas of an investment - also there are so many factors involved to determine when/if you sell them exactly how muhc profit you will end up walking away with.

Each to his own and if you think its right for you then make sure its a decision YOU take rather than somoene else forcing you to.

I was happy with my decision but only time will tell - if it all goes wrong then i have no one else to blame and i'll learn from it really but ill let you know in 5 years time!

From what I've seen of other postings and even Harlquin's own website, what is mainly of concern is whether Merricks will ever get built. Harlquin don't seem to have finished any development and it looks as though they don't have planning for Merricks.

In 3-4 years time the properties may not even exist, so I'd want a huge discount and my money in a safe place until the development starts in case Harlquin go belly up.

And I wouldn't risk my pension money in a Sipp for a development that isn't built in Merricks or anywhere else. Far too risky for pension money.

Which City institution bought the properties? I thought Harlquin, or an associate company owned Merricks.  So does that mean Harlquin sold off at a big discount to raise cash and are now marketing in competition with its own direct investors?  Is this what Harlquin means when it says on its website it has recently 'sold' a lot of properties?  So is it selling to the detriment of existing investors who bought at a higher price? I'd be livid if I was an investor and had been told my investment was at a big discount and would gain in value and then found out Harlequin was selling for up to 50% less than I paid.

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I am not invested in the Merricks, but have made enquiries on behalf of others:

Harlequin tell me The Merricks now has full planning permission, and they are building the showhomes right now. 

The city institution was referred to only as "The City Investment Fund". Whether this is a company, a fund, or what, I don't know.

They purchased several units in 2006 and now have to release them at a significant discount due to the current financial crisis. I can understand why investors who bought at nearly double those prices would now be angry at the discounts... however, HQP say that the properties bought at discount will be re-valued in line with the ones already sold, as they (I am implying from what I have heard) will be getting a red-book valuation done on The Merricks, similar to the one in Bucc Bay, which was done by Colliers.

Mr Ames was the owner of the LoansMadeEasy franchise, which he sold off a few years ago. This is how he amassed the cash to purchase Carribbean land, which apparently is all held with no debt or mortgage against it. If this is the case, then it should be of some comfort to existing investors.

I'm not here to speculate, scaremonger, or give opinions on HQP. I'll only present the facts as I find them. I hope this helps though.

Hi ,

I am investor in  SV I need to know if someone who invest here can contact me I have questions about the contracts and maybe you can help me.

my email is

matias201@hotmail.com

thanks

regards

Well the jury's still out with Harlequin. As an investor on the Merricks site i'm still trying to remain positive amidst all the doom and gloom. I think that an enormous amount hinges on the completion of Bucamment Bay and my agent has recently sent me some encouraging pictures showing construction progress on this site which are also available on Harlequin's website.

At least Harlequin haven't gone bust yet or the developments been cancelled with investors struggling to get their deposits back like so many developments in Dubai and elsewhere!

Does anyone have any up to date information regarding the planning situation at The Merricks? You say that Harlequin has full planning but i understand that this is still outstanding. I've also been sent some pictures that show construction has started on the show houses there which must be a step in the right direction? 

I believe that Harlequin probably don't want to start building The Merricks until Bucamment Bay is complete. and this may be one reason for 'tweaking' the site plans at the Merricks so that they have to go back to the planners for approval and thus delaying full planning permission.

I also think that they probably need the money that will be due from Bucamment Bay at completion in order to progress with the construction at The Merricks and elsewhere. This is why I believe so much hinges around the completion of Bucamment Bay. I hope for their sakes (and my own!) that they are going to be able to provide the investors with the 70% 'guaranteed' mortgages as without this finance i expect that many of the investors will be unable to complete.

Anyone out there have any views/information?

Please I need investors which are dealing with the deposit refund from Harlequin, since I want to start the process now and I need the lawyer who is dealing already with this

My email is

matias201@hotmail.com

Matias