| Dear Investor,
It has been 4 weeks since my last newsletter. Personally, I have been very busy refinancing some of my UK assets in order to invest in more, and also conducting personal due diligence and negotiations on a large UK commercial property which has been repossessed by a finance company.
Distressed Assets also had a full seminar at the Institute of Directors in London a couple of weeks ago and the team has also looked at a repossessed portfolio of properties in London, which we received direct from the administrators. Today, we are having a meeting with the representative of a bank which has recently foreclosed a developer. Watch this space!
I have said for some time, that I do not think the exceptional UK property deals we are seeing right now will be around for a long time. Mortgage products are getting more competitive on a daily basis. Demand is growing at its fastest pace since 1999 and banks are recapitalising. I would agree with the Royal Institution of Chartered Surveyors that we will some return to stability by the end of the year.
So what? Well if you are serious about investing in UK property for your long-term wealth at these sorts of prices, now is the time to strike.
Repossession Seminar Tuesday 26th May 2009 - Liverpool
Distressed Assets is holding a seminar in Liverpool Tuesday 26th May 2009 in the evening. The team will outline the case for investing now in bank repossessed property and will detail the opportunities we presently have on the table. Further information can be obtained by looking at the website and there is also an application form for places – www.distressed-assets.co.uk
Important Information For Overseas Holiday Let Owners
The Chancellor has given a windfall to owners of jet-to-let properties which are rented in the holiday sector in the EU – yes Cyprus counts. Information can be found on my blog at www.dominicfarrell.com. If you have any questions you will need to speak to your accountant. The huge benefit of this tax break is that you can back date it.
The Grove Spa Resort, Cyprus
There is a large site meeting today which is being attended by Stephanie and Jonathan. Construction has moved on at an incredible pace and we should have the latest pictures on the Construction Blog in the next couple of days.
It is worth looking at the blog as often as you can as we frequently update information or why not include it as an RSS feed on Google for instance so you receive updates immediately?
Hope to see you on the 26th.
Best wishes
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