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Boardwalk :: Forum List The Phoenix Quarter General Discussion

<< Start < Prev 1 2 Next > End >> Paul J   A safe bet for my pension? - 2006/11/11 03:02 While idly browsing the internet, I fell upon the website of Michael Royde, Financial Adviser, offering SIPP investments into Phoenix Lewes (a bit called The Fulcrum Building). Among other things, these chaps state that “Planning permission is being applied for next month and is expected to have the full support of the planning officers. Detailed planning is expected to be granted by the end of 2006 with a build out period of 18 months.” There is plenty of further information on the website at http://www.michaelroyde.co.uk/thefulcrumbuildinglewes.htm. Has the green light already been given to the project, all bar a bit of tweaking?   | | You must login if you wish to contribute to this forum. John Stockdale   Re:A safe bet for my pension? - 2006/11/11 13:03 Brilliant piece of detective work, Paul! Charles Style has been saying the prospectus wouldn't be ready till he had sorted out a few matters with the Planning Department. I expect they will be pleased to hear that their approval is being taken for granted.   | | You must login if you wish to contribute to this forum. John Stockdale   Re:A safe bet for my pension? - 2006/11/11 14:03 Ooops! May have been a bit quick off the mark here. The covering letter to investors makes it clear the proposal was made in May. Whilst the prospectus may not be the final version, it is still being used to sell the project and it is the first time to my knowledge that the information and illustrations shown in the exhibitions have been published. The letter to investors gives some very interesting indication of the "modest" rents for commercial, retail and residential space expected on the development, the financing and some of the intentions of the developer. It all bears a lot more study.   | | You must login if you wish to contribute to this forum. Elinor   Re:A safe bet for my pension? - 2006/11/11 20:14 I don't recall Mr Style talking about a 400 space multi story car park, when he was talking at the Town Hall about the sensitive nature of this development. (see letter as described above)The Planning Department weren't able to approve a development on their own site behind Lewes House (4 years and counting) so I hope that they might have learnt from their mistakes and explained to Mr Style that we have Local Planning policies, and that they can't just be ignored. It seems from the stop press news on the Home page that answers are still not forthcoming about these grossly overambitious plans. It seems that we are going to be paying the price of a drawn out , and similarly unsuccessful application to that of the Lewes House site, that never gets built instead of a realistic one that does. Not a wise investment.   | | You must login if you wish to contribute to this forum. SurefireWinner   Re:A safe bet for my pension? - 2006/11/12 17:18 I am surprised at the quality of information that Michael Royde is providing to potential investors. PaulJ refers to his statement in the May 2006 newsletter: "Planning permission is being applied for next month and is expected to have the full support of the planning officers. Detailed planning is expected to be granted by the end of 2006 with a build out period of 18 months." As we know, planning permission wasn't applied for in June 2006. Whilst the developer may have expected to have outline planning by the end of 2006, as far as I know he has never claimed he would have detailed planning in that timescale. It seems unlikely that the planning officers supported the proposal in May 2006 since the Chief Planning Officer was saying in October that the application was still not ready for submission. There are irritating and unnecessary inaccuracies in the rest of the document: Lewes will not be the capital of the South Downs National Park which itself is by no means certain to be designated in the next two years; the Protestant martyrs refused to REnounce their faith not DEnounce it; the Bloomsbury Group lived at Charleston Manor not Charlton House. How much reliance should investors place on other information in this 'prospectus'? Michael Royde is regulated by the FSA.   | | You must login if you wish to contribute to this forum. Merlin Milner   Re:A safe bet for my pension? - 2006/11/15 18:10 Interesting website. Thanks for finding it.   | | You must login if you wish to contribute to this forum.

Boardwalk :: Forum List The Phoenix Quarter General Discussion

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