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TOPIC: Cotton Bay Foundations ?

Cotton Bay Foundations ? 8 years 2 weeks ago #13800

:dry:
I am an investor in Cotton Bay - I paid a deposit in 2007 and havent seen anything happen since ? I got an email two weeks ago from the developer saying the foundations are starting now ? IS THAT TRUE ? any body seen any diggers ?

Will it be built ? ever ?

I was supposed to get the keys in March this year ?

Which solicitors does anyone recommend to get my money back and penalties due ?
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Re:Cotton Bay Foundations ? 8 years 1 week ago #13832

I am in a similar position
my view is that we are lucky the project has not gone bust.
I believe that they are going to start soon
I am going to visit before I paid the second instalment
legal option I would wait until things have moved further very difficult to sue would imagine company has no assets so if they were sued there would be nothing left.
If you look at situation when you have apartment and development is almost finished you could consider your options.

I would guess there would be more profit when the development has finished than finishing now

David
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Re:Cotton Bay Foundations ? 8 years 1 week ago #13836

Investors take your head out of the sand contact N D R they know what is going on at Cotton Bay.

Bill
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Re:Cotton Bay Foundations ? 8 years 1 week ago #13838

Who are NDR and how do you contact them ?
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Re:Cotton Bay Foundations ? 8 years 1 week ago #13839

Neville De Rougemont Solicitors
p/n 01628778566


Bill
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Re:Cotton Bay Foundations ? 7 years 11 months ago #13980

  • davea
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Hi,

I have only just found this forum as i was researching for our Cotton Bay meeting which we are having this Friday 8th October in Birmingham.
If you wish to attend please contact me at This email address is being protected from spambots. You need JavaScript enabled to view it.
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Re:Cotton Bay Foundations ? 7 years 5 months ago #14840

Hi, just read your message, we are in the same boat! They just keep sending pictures of the land clearance and afew diggers, but this has been going on since 2007. They told us they didnt need investors money to complete the project but it looks like they were wrong! We have tried to get our money back, but because we didnt sign the contract they say we it is non returnable. We spent nearly £2K on solicitors fees!!
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Re:Cotton Bay Foundations ? 7 years 5 months ago #14842

  • Buckie
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Sorry to hear that M8...there is a few in the same boat, maybe try contacting them as some were taking action against the solicitor as he must have known the funds went in one door then right out the other and not held in an escrow account...

Hope you manage to get something back...
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Re:Cotton Bay Foundations ? 7 years 5 months ago #14949

Buckie

You and i have disagreed about this development before so last week went into there office in Santa maria posing as a buyer for a 2 bed.
Q, why are there no workers on site?
R, workers will be on site in 3 months all ground completed.
Q,I have only got 140,00 euro.
R,2 bed are 160,00 euro this development is the only one where prices are increasing on Sal!!!
Q,how long before building are coming out of the ground ?
A, If you come back in 7 months building will be up, phase 1 will completely finished in 18 months including golf course i made my excuses and left,Cape Verde property topa and your mate Steve from turtle shack have all stopped selling cotton bay as you know i was told last year this development would not happen
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Re:Cotton Bay Foundations ? 7 years 5 months ago #14951

  • Buckie
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The Salesman’s right! It will go ahead! When is a different matter. Since this new investor seems to be taking a long time putting the money in.

I'm surprised the salesman didn’t say 'put down 30K and you can have it for 140K LOL

Trevor and Steve have stopped selling them, only because there being asked too many questions they can't answer! Bet your bottom dollar as soon as they start selling, they will take them back on...LOL

Who's paying the wages of the office workers and the Sales staff? There must be something in it, as NO ONE is buying at the moment, so this I can't understand. They know too well this also, yet still plan a Buy Off Plan launch??? Crazy

I suggested to them a few years ago after explaining no-one would ever buy off plan again...Splitting the development into 20 property sections, starting from the road working down, building 20, then sell them, all ready to move into. minimum outlay, buyer gets what he wants LOL The guy though that was a brilliant idea, something he's mention to the board..LOL Who'd have thought of such a new revolutionary way to sell !!!

I was right about the ground levelling works all done though LOL….

Enjoy the weekend Bill :laugh:
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Re:Cotton Bay Foundations ? 7 years 4 months ago #14970

  • suzyl
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I am an investor in Cotton bay and have received correspondence from Amado and Medina solicitors reguesting we sign a power of attorney and pay them 1.410 euros upfront to act for us to terminate our contract with Cotton Bay and take it to tribunal. My question is. Is there anyone else out there with the same issue, and is it worth spending more money to sue a company that could very likely go bust. What have other people done. Has the deveolopment started?
Last Edit: 7 years 4 months ago by suzyl. Reason: typing error apologies to Amdomedina
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Re:Cotton Bay Foundations ? 7 years 2 months ago #15215

  • mba
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Hi,

We're in the same boat. Not getting any response from Paola, Amado have said the same although they were unable to give an exact figure. There doesn't seem to be much information about the development, probably because there is no news!
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