X

Sign Up

or

By signing up I agree to Property Tribes Terms and Conditions


Already a PT member? Log In

Sign Up

Sign Up With Facebook, Twitter, or Google

or


By signing up, I agree to Property Tribes Terms and Conditions


Already a PT member? Log In

Log In

or


Don't have an account? Sign Up

Forgot Password

To reset your password just enter the email address you registered with and we'll send you a link to access a new password.


Already a PT member? Log In

Don't have an account? Sign Up

  • Entrepreneurs

    Investing in burial plots?

    Charles Micklewright is offering an interesting deal - hence the need to find out if it is legit. His company, Memorial Gardens Ltd is offering burial plots in Rainham, London. What makes the deal interesting is a buy back guarantee at 140% in two year's time by the developer.

    Each plot is selling for £2K, and they are selling because there is a shortage of burial plots in London and are confident to sell them to the Councils or other organisations.

    Any help will be useful, but whenever there is a 'buy back guarantee' what questions and diligence needs to take place?

    0
    0

    You ask what due dillegence would need to take place. Firstly, who would offer to sell an asset that they can guarantee would be worth 40% more in two years time?

    Is the guarantee really to buy back in two years anything you buy now at 140% of the price you paid? What does the guarantee actually say? Have you read it? That's always a good place to start.

    0
    0

    Mr Micklewright has promoted similar schemes for some time now.  There was one back in about 2011 / 2012 that was selling plots of land in the walled garden at Lilford Hall that came with the right to use the title (!) Squire Lilford.  As that scheme is long since closed, maybe Vanessa / Nick won't mind a link to it https://www.lilfordhall.com/buyaplotofland.asp

    Anyway, onto the Eastern London Cemetery (there is a clue for anyone wanting to find a website to look at)

    It can be likened to buying a few rooms in a student development I suppose.  You don't own the overall building, but you own a few rooms in it.  You are, therefore, subject to doing what the building owner says in terms of repairs & maintenance / rent / etc. and you have the right to the rent and / or to sell on the rooms to another punter.

    There is a reasonably reasoned discussion in this overseas newspaper that anyone considering investing should surely include in her due diligence

    https://www.thenational.ae/business/prope...stors#full

    The devil is in the detail of the contract.

    Personally I don't doubt the backers ability to underwrite the scheme, but I do expect that the T&C's that need to be navigated in order to actually receive the money may be quite tortuous.

    AIUI the minimum investment is £8k so, as a higher risk / alternative asset play as part of a properly structured investment portfolio, it might have a place for some investors.

    I am in no way qualified to offer advice on such matters and you should definitely not interpret this as advice to either invest in the scheme or not.

    0
    0

    I make no bones about it, this one is dead in the water as far as I am concerned. I'll be pushing up the daisies before I invest in it.

    1
    0

    Coffin at yours and Phil's puns!

    0
    0

    If you invest in this, you will put yourself in grave danger.........Sorry that the best I can think of.

    On a serious note someone tried this in Midlands about 5yrs ago and it was declared a scam, I would steer clear.

    0
    0

    Phil Stewardson.

    Stewardson Properties.

    Stewardson Developments Ltd.

    Burson Land Ltd. & Jennings & Gilchreaste Ltd.

    http://www.stewardson.co.uk

    Follow me on twitter - @philstewardson

    Did anyone invest in this at all? It has resurfaced via Graham Rowan at Elite Investor Club. Wondered if anyone got paid?

    0
    0

    I always use this as a yard stick

    if the deal is this good and straight forward why are you selling it to me

    at 2 k a plot it’s not a big sum

    i would give it a miss

    0
    0

    Learn Change and Adapt ?????

    All comments are for casual information purposes only. If you wish to rely on any advice I have given please ensure you obtain independent specialist advice from a third party. No liability is accepted for comments made.

    There's a few similarly named companies.  With varying histories.  Mr Micklewhite appears no longer a director of the company named in 1st post.


    Always fascinating to look at he history of various companies people have been involved with.

    0
    0

    So after some research - these guys seem to be promoting the same 'investment' that was on here originally, almost the same people but forgetting to mention that the previous company has gone insolvent! Wow

    0
    0