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INTRODUCTION
This Blog is dedicated to making public some of the business activities and methods of Liam Collins, David Bone Jr and their associates. In the spring of 2010, the present authors invested in Collins & Bone (C&B), who were offering an enticing 8-10% interest on the basis of buying houses for cash, renovating them and letting them out to students. We were assured that our money was secured against houses that they owned, including their own homes and the properties held by their associated company, Castle & Gatehouse (C&G). We have emails and brochures that confirm these details, as do others who invested on this same basis at around the same time. The idea worked for us for over a year, then in November 2011 they told us they were insolvent. They refused our every request for clear accounts, which led us to suspect wrongdoing. We began an investigation and then started this Blog. We found our suspicions confirmed: other investors had lost sometimes quite large amounts to C&B and its predecessor CBS, and all requests for repayment were adamantly refused. These people use and have used so many names that we found it necessary to compress them into CoBo (for Collins & Bone) and Coboco (for the whole bunch of them – there are quite a few!) Note that there is an index in the margin at the right hand side.

Friday 3 February 2012

OLD PLONK IN NEW BOTTLES, ANYONE?


All properties are finished to a very high standard, as this photograph elegantly illustrates

Readers are invited to participate in a simple recognition test. Of what other property development website is the undermentioned website reminiscent? (No prizes offered, but answers are welcome).

  http://www.novocastriadevelopments.co.uk/ 

Here is page 11 of the Novocastria Developments brochure, with its testimonials:-

"Having responded to an advert in the Landlords Association publication I went to meet David Bone and viewed properties in Salford, Bolton and Preston. The renovated properties I viewed were finished to a higher standard than my own home! David was professional, knowledgeable and had a very positive vision of where the partnership was headed. This first visit was followed by a number of phone conversations with Liam Collins who again proved both helpful and positive. I committed to buying a property and have subsequently purchased more. Over the medium term, the returns I will achieve both in terms of income and capital growth are, in my opinion, as good an investment as one is likely to find. I have recently revisited to view a number of properties; again, all were helpful and very professional. I will certainly be buying further properties."
Paul Cronin


"In 2002 I started buying property where I live in Northern Ireland. I initially did well from these properties in relation to equity growth but was only ever breaking even between outgoings and income and even had to subsidise the account at times. Also as I got a few more properties I found more of my time was taken up running after tenants and problems with the houses. When introduced to Novocastria by a friend last year I flew over to look at the standard of the properties and met the staff. I was very impressed with the finish of the properties and the professionalism of the staff. I raised money on my own home and invested in two properties with them which I am delighted to say are up and running. For the first time in four years I am making a profit every month and no headaches. The rental income takes the pressure of worrying about how much is coming in each month. Novocastria is a first class, well run business that provide a great investment opportunity that I would highly recommend to anyone who wants a great return on investment with little risk or hassle."
Andrew Dixon


"I have been dealing with Liam, David & Mark for over two years and have found that they offer a personal, professional and forward thinking service. The model and future ‘brand’ they have created is attractive to investors and tenants alike and should benefit both in the short and longer term. I am looking forward to the building work starting on the properties I have invested in and then the tenants moving in. There is always an element of trust involved in the whole process but in buying a finished house the investment works very well indeed." 
Phil Haslam


"In March 2007 I first invested with the partnership after discussions with Liam Collins, I was impressed with his drive and enthusiasm and the plans he had for the growth of the partnership. I purchased two investment properties through them and these houses were completed by July 2007, as per the contract. Having seen that Novocastria delivered on their promises and were people of integrity I decided that I would purchase another investment property. This completed January 08. I have been delighted with the professionalism, drive and integrity and I have had no problems in recommending Novocastria to my friends and family who have also taken the opportunity to invest for their future with the partnership. I have continued to invest with Novocastria and hope to continue my relationship with them well into their future. I believe that they have come a long way in the last year in developing themselves into a first class company that offers excellent investment opportunities." 
Ian Broadbent 

And on page 4 of their brochure, adjacent to the gleaming bathroom faucets, Novocastria Developments shouts:-

"WE DON’T MIND TELLING YOU THAT WE’RE GOOD OR THAT WE REALLY KNOW WHAT WE’RE DOING. WE BACK IT UP WITH EACH NEW PROJECT WE DELIVER. BE THOROUGH. PAY ATTENTION TO THE DETAIL. LEARN FROM YOUR MISTAKES. HIRE THE BEST PEOPLE. CARE ABOUT THE SERVICE.

THAT’S THE KEY TO THE PROPERTY INDUSTRY."

And if readers want to know more, well, all they have to do is contact the well-known property development company Castle & Gatehouse, as advised in the Novocastria Developments brochure on page 12:-


Another glass of plonk, Sir? Madam?

1 comment:

  1. This is truly unbelievable. Any doubts I had that they were simply unlucky previously have gone.

    ReplyDelete