Unveiling the Secrets: The Untold Truth of SWENNO PROPERTY INVESTMENTS

This is Chapter 1 of my real-life journey through the shadows of property investment, where prestige was promised but betrayal was delivered.

Where It All Starts: Behind the Scenes

In 2016, I took my first steps into the property market, fueled by hope and ambition, as I invested in SWENNO PROPERTY. Initially, I was excited about the opportunities that lay ahead, but that excitement quickly gave way to despair. I soon discovered that I was one of countless victims caught in the elaborate schemes orchestrated by the EL Group. Their fraudulent activities created a complex web of deceit that not only undermined my investment but also left hundreds of other investors facing financial ruin. The experience was not just a personal setback; it became a painful reminder of the vulnerabilities that exist within the investment world.

The Residence, Manchester: A False Promise

My first buy-to-let investment, dubbed “The Residence,” was an ambitious endeavour that I purchased off-plan for £138,000. The promise of guaranteed rental income and a fully completed property was tantalising, and I envisioned a prosperous future. However, by 2020, the situation took a disastrous turn when the developer tragically entered administration. As a result, 170 investors, including myself, found ourselves in a state of uncertainty and frustration. The project remained unfinished, with construction grinding to a halt, and many of the builders were left unpaid. What I had hoped would be the first step in building my investment portfolio quickly became a bitter reminder of lost dreams and unrealised potential.

https://www.theresidencesmanchester.com/apartments  

The EL Group’s Trail of Destruction

From the sprawling grounds of Heap’s Rice Mill to the bustling heart of Wolstenholme Square, as well as the ambitious designs of Aura and Infinity, the EL Group's projects have consistently pushed boundaries. However, these ventures have been shrouded in allegations of corruption and mismanagement. A particularly disappointing aspect of this saga was their Salford development, The Residence at Greengate, which was initially touted as a flagship project but ultimately succumbed to neglect and disrepair. 

The news of the company’s downfall hit me hard, arriving just months after my joyous return from Sydney. There, I had celebrated my sister’s milestone 40th birthday in a whirlwind of laughter and love, surrounded by family and friends, all of whom relished the joyous occasion. The contrast between that vibrant celebration—complete with heartfelt toasts, shared memories, and the warm embrace of loved ones—and the grim reality of the unfolding events was jarring. It marked a moment of profound disillusionment, as what was once viewed as a promising development in my hometown now crumbled before my eyes. I couldn't shake the sense of loss, not just for the business that had once thrived, but for the hopes and dreams it had represented for many in our community.

OWS Liverpool: Another Blow

Prior to my investment in Manchester, I had previously invested in the OWS Liverpool L1 project, which was another venture by the EL Group. Initially, the project was scheduled for completion in 2018, but unforeseen delays pushed the final completion date to March 2019. Unfortunately, the promised rental guarantee of 8.5% turned out to be misleading, as the property itself wasn’t available for occupancy until June of that year. 

As I navigated this experience, I learned that the situation surrounding the development was mired in controversy, with alarming rumours circulating about potential bribery involving local government officials. At the centre of this scandal were allegations of corruption tied to the planning permissions required for the project. This controversy escalated when four out of five sitting mayors of Liverpool were arrested on corruption charges, raising serious concerns about the oversight and integrity of the development process.

To be continued in Part 2...