ED Magedson – Founder
Colonnade House, Summerberry ResidencesNationwide USA
Colonnade House, Summerberry Residences Christian Yates, EPG, Empirical Property Group, Colonnade House Construction Limited, Charlie Cunningham, Andrew Camilleri, Four Sisters Ltd, Emanuel Mond, Absolute Living Developments Ltd Property Investment Failure Manchester, Lancashire, UK Manchester, UK
Colonnade House Construction Limited
CIK have been instructed to recover a debt of £122,261 owing from this company for air supply and extraction work carried out on Colonnade House in the Summer of 2012.
Colonnade House was converted into student apartments (PODS) in 2012 and is located at Sunbridge Road, Bradford, BD1 2LQ. It has been rebranded twice since then, first to The Fort and now to Summer Berry Residences,presumably to try and avoid bad financial press.
The property group behind Colonnade House have serious bad debt form. The holding company is Empirical Property Group Limited - EPG (name changed from Fresh Start Holdings (Manchester) Limited in January 2013) which owned the company FSL Properties Colonnade Limited that owned Colonnade House. EPG was incorporated in February 2011.
The Directors of EPG are Charles Cunningham, Philip Wright and Christian Yates with Cunningham owning 10% of the shares and a Alan Pierce 90%.
Alan Pierce and Philip Wright have had previous property companies that have gone into compulsory liquidation, Wrightchoice Developments Limited (Company Number: 03768709) owing £4.2M and Pierce Properties Limited (Company No. 06578485). There is another individual Andrew Camilleri who has been involved but he was made bankrupt in 2011 for £9M and had to resign his directorships.
The group was fronted until recently by Fresh Start Living Limited (FSL) where Cunningham, Wright, Pierce and Camilleri were all Directors. The FSL acronym has been used in numerous company names within the group. Fresh Start Living went into compulsory liquidation in December 2013.
Colonnade House Company Structure
Like other properties purchased by EPG (there have been 15 or so similar to Colonnade House) there is a company that owns the freehold, a company for the contractors and a lettings/management company.
For Colonnade House they were as follows:
FSL Properties Colonnade Limited went into voluntary liquidation in June 2014.
Colonnade House Construction Limited and FSL Management Colonnade Limited are being dissolved by Companies House due to the two companies having never filed accounts. A commentary on Buy to Let Bradford will be made under Christian Yates's bio.
We understand that the main contractors to Colonnade House via Colonnade House Construction Limited, including our client, have not been paid and there is a view that there was no intention of ever paying them.
Colonnade House Value
There are 224 student apartments of which at least 52 have been sold on 125 year leases at an average value of £40,000.
The freehold was sold by FSL Properties Colonnade Limited in November 2012 to a London based property company called Four Daughters Limited for £773,760. It is not known at this stage who has the beneficial interest of the 224 leases but it is presumed that the imputed value of £9M (224 apartments @ £40,000) lies somewhere within the EPG Group, as does the cash from the sale of the freehold.
It should be noted that the net assets of EPG went from £2M in July 2012 to £23M (mostly fixed assets) in July 2013, which may account for the Colonnade House missing assets.
Other Similar Properties
It would appear that a property, Montgomery House of Demesne Road, Whalley Range, South Manchester, M16 8HP, has gone down the same route and one presumes that other properties in the group have had a similar fate.
FSL Properties Montgomery Limited went into compulsory liquidation in January 2014.
FSL Management Montgomery Limited went into compulsory liquidation in January 2013.
Other potential sites are Empress Mill, Greenock, St Thomas, Victoria Halls and Ford Lane.
They are Charles Cunningham, Philip Wright, Christian Yates and Paul Statham- Walker. There are approximately ~ 25 companies active in the group, all owned or influenced by EPG.
All these companies give a registered office of 7 Empress Street, Manchester, M16 9EN but this is a post drop. They actually all work from Suite 7C, 7th Floor, Blackfriars House, Parsonage Gardens, Manchester, M3 2JA.
Charles Cunningham (DOB Dec 1978)
Charles is the CEO of EPG and a 10% shareholder. His bio is well documented on the internet.
We are looking to prove in due course that he is a shadow director of the Colonnade group of companies.
Yes, I met him twice whilst we were chasing monies. It was him who offered other properties as equity, at their offices in Swinton at the time. Bxxxxxx was driving a S65 Mercedes, cost new £120K!
Cunningham is or was until recently a Director of ~ 15 companies within the group. Those with a bad debt track record are as follows:
I am aware of the appalling behaviour and financial mess caused by EPG and those connected to it. We are all one of a number of people who are suffering losses at the hands of this company. We have severed all connections with them other than unfortunately having an outstanding loan to them, which we made before we realised how dreadful their financial situation was. It remains to be seen how big our losses will become .I am afraid all I can do is look on helplessly from outside. I do hope that you manage to get recovery of what is due to you and your client.
Cunningham's current group defence is that EPG has a claim against lawyers on the Trafford Press property of between £5M and £250M. No evidence can be found for the validity of this claim and one would suggest that it is just a flanker to buy time.
Christian is the only non-executive Director of EPG and has an impeccable bio and it is thus confusing as to why he should have blotted his CV with the EPG crowd.
We are unsure of his role within the EPG group but he does have a financial interest noted on the website of Buy to let Bradford LLP, where Paul Statham-Walker is the Director, with a postcode that matches the 7 Empress Street address, as follows:
Buy To Let Bradford is an exclusive Investment Agent acting on behalf of Cherif Investment Properties Limited and Lord Beaverbrook. The Development, The Fort (see top of page under The Debt paragraph), stands as a monolithic landmark overlooking the City of Bradford, offering great student accommodation PODS in a strong location. Student investment from £39,950....
Now Christian Yates is a Director of Cherif Investment Properties Limited. We are currently investigating whether this company has a financial interest in the apartments at Colonnade House or indeed in any of the other properties owned by EPG.
Paul Statham-Walker (DOB April 1980)
Paul is a Director of 8 companies within the EPG group. Evidence would suggest he is made a Director when the company is deemed worthless and being let go. His role within EPG would appear to be that of a sales person, having served previously as a Corporal in the Army.
He goes by the name Paul Statham-Walker, Paul Statham and Paul Walker. His most recent Directorship is at Urban Blox where he calls himself Paul Walker and has changed his DOB to July 1980, presumably to hide his past Directorships as Paul Statham-Walker.
On the Urban Blox website he calls himself Paul Statham.
His relevant companies with a bad debt footprint are as follows:
Philip/Phillip Wright (DOB June 1958)
Philip is a Director of EPG and of another ~ 25 companies within the EPG group. His bio is well documented on the internet. His relevant companies with a bad debt footprint are as follows:
This report was posted on Ripoff Report on 08/25/2014 07:26 AM and is a permanent record located here: http://www.ripoffreport.com/r/Colonnade-House-Summerberry-Residences/nationwide/Colonnade-House-Summerberry-Residences-Christian-Yates-EPG-Empirical-Property-Group-C-1172094. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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