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Hi. As an investment opportunity I have been recommended investing a project(s) administered by The Coyne Group. I am attempting to do some DD on the Group, but I am not finding any reviews or references. Has anyone had any dealings with them, or have any information to pass on, good or bad? I live in the Channel Islands, but am prepared to travel to the UK to check things out if it is worth pursuing.
I am in the process of writing a detailed report on my dealings with The Coyne Group, specifically, proposed student accomodation in Canterbury. What I can share now is I was lucky to exit this deal (a planning gain flip) on par after 20+ months, against a stated ROI of circa 40% after 6-months.When I conducted my DD on TCG I did not come across any negative reviews or information, however, neither did I find anything positive about them. As a matter of fact, I was not able to find any reviews from previous investors - this should have rung alarm bells at the time.Personally, I would not go anywhere near TCG again.If you decide to pursue an investment opportunity with TCG I would advise you to proceed with caution, especially given these types of investments are unregulated. This means you have little to no recourse. Have your lawyer and accountant scrutinise every piece of documentation they provide to you, and then have them scrutinise it again. Good luck!
Out of interest, who recommended the Coyne Group to you?There is a lot of due diligence contained in this thread.The Coyne Group @Mark-Bean Thanks for sharing your experience. I you saying you just broke even i.e. did not make any profit?There appear to be two Coyne Groups - one with registered offices in Bristol and one with registered offices in Liverpool. Which company did you have dealings with?
Vanessa Warwick Landlord and Co-Founder of PropertyTribes.com **If you have got value from Property Tribes, find out how you can support it in remaining a free to use community resource**
I dealt with Coyne Group in Bristol: https://www.coynegroup.co.uk/.
On their Facebook page Coyne Group state, "Earn a minimum 20% ROI across Student, Retirement & Residential property with The Coyne Group". I can confirm after 20+ months, and a lot of stress and worry, I only broke even, I did not make any profit! Coyne Group once described this as armchair investing, believe me, it was anything but!
As per my initial post, tread very carefully.
Thanks for sharing your feedback Mark. The Coyne Group being discussed on the other thread is also the one in Bristol.
Hi Mark,Thought this might interest you. Coyne Group looking to raise £900K on the Canterbury Development via Simple Crowdfunding:
Thank you for your input. Much appreciated.
I met an investor locally who has invested in Coyne Group, so just doing some DD.
My pleasure Vanessa.
For what it is worth, most of my co-investors were as disgruntled as me, further, I have also communicated with Coyne Group investors in other deals who were also disgruntled.
I believe it is every deal. Seems like a massive ponzi scheme until the pyramid collapses soon.
I have received calls from numerous disgruntled Coyne Group investors during the past year or so - all have the same tale of woe and heartbreak.
If you do not stand your ground with Coyne Group (and in doing so Mike Coyne refused to deal with me directly) they will walk all over you - literally! Although my four fellow directors didn't, I stood my ground in respect to the "spurious" invoices totalling circa £20k. I had the deadlocking vote and I refused to agree to the refinancing until the spurious invoices were withdrawn.
Mike Coyne hates it when investors call his bluff.
I am astonished Coyne Group are still operating in any guise! IMO - avoid at any cost!
I am posting anonmously in the hope that this warns anyone considering investing with the Coyne Group
The Fargate project in Sheffeild which the Coyne Group were managing (now going on nearly 5 years when it was supposed to be finished in 18 months) has collapsed and the shareholders stand to lose all their money. Asbestos was found at the development but the Coyne Group still went ahead and bought it putting the project in jeopardy.
The Coyne Group have however taken their cut from the project (hundreds of thousands) and run. This is happening across about 14 of their deals. They have bankrupted several of the SPV's whilst Mike Coyne lives in a £3m mansion.