UPS News
UPS36
Sanda Island: Title-Split
Sanda Island has come up for sale. Our UPS-HQ volunteer, Paul Rutherford happened to take a drone photo of what will be one of the last syndicates with one of the first: Keil Hotel. it is well worth returning to this part when you have completed this edition of UPS News and check out the results at Keil Hotel. UPS2: Click Here.
^^ Keil Hotel Left (Here) & Sanda Island Right ^^
Russ McLean is not totally sure whether UPS members have syndicate-fatigue, or are still game for a bit of unique property mischief? So a good solution is to simply ask ALL members of UPS.
We are structuring UPS36 Sanda Island differently.
10 places and just £500- per person to cover
contracts + legal fees.
The £500 is all that is required. We will effectively be contracting a “back-to-back” set of property transactions.
This means the purchase and sale will be transacted on the same day.
=> There is an overlay of complexity tat UPS members are very likely to understand but not many folk out with our group.
If you take a look at what is for sale on and with Sanda Island, Mull of Kintyre…
^^ Sanda Island ^^
The whole place is shouting to words at Russ…
“Title Split”
Proposed purchase at £1,950,000.
Title-split resales add up to £2,962,000.
So if we come around to our proposed contract to buy, given that the owner has banned folk from the island and has caused himself to be subject to murmurings of “Commuity Buyout” bcause of this…
Millionaire Michi Meyer
Closed Sanda Island To Community Access In 2013
Source: Click Here
The owner, Michi Meyer was advised he risked a COMMUNITY BUYOUT action if he banned folk from Sanda Island.
Instead of opening back up as promised, he made the short-term closure permanent.
This ban has been highly unpopular locally.
Russ McLean has spoken to several friends in the area. The general feeling is the community do NOT want to force a Community Buyout. It is a ton of hassle and needs several folk to work for free!
Local folk saw this hassle happen at the Community Buyout on the other ide of Kintyre at the Island of Gigha.
Russ has taken private soundings about a community vote. If this were to go ahead it would fare well on the Argyll + Arran + Antrim Facebook Forums (Sanda is very popular with folk from Northern Ireland)…
EXAMPLE
The Sanda Island Vote
Which one of the three do community members prefer..
A. [_] For Sanda Island to be sold to another millionaire and kept closed to the community: with the current ban continuing?
B. [_] For Sanda Island to be split by the owner into 10 segments where families can live on the island again. Plus a regular ferry for community and visitours to be able to set foot on Sanda Island again.
C. [_] For Sanda Island to be the subject of a Statutory Community Buyout (these can take 12 to 24 months).
When folk asked who would do the Community Buyout work if folk voted for “C” they tended to join the majority who were going with “B”.
All that is needed for UPS36 to work is carefully drawn-up purchase/sale contracts with Michi Meyer (owner of Sanda Island) and Unique Property Bulletin Ltd.
=> Scots Law of property is ideal for “back-to-back” purchase/sales.
Whereas in the rest of the UK this is very difficult. Plus there are pitfalls such as gazumping in England, Wales and Northern Ireland and that does not happen in Scotland.
^^ Sanda Island
^^ Not So Many Folk Have £2,500,000 Handy ^^
The current owner, Michi Meier has telephoned Russ McLean up prior to his ownership and during it. Mr Meier is a regular reader, but very firm minded.
When Russ strongly recommend to Michi Meyer that he keep the island open due to the new Land Reform Act was passed in 2003, Michi did the opposite and close down community access!
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Why £5,000 For UPS36?
When we made a formal legal offer on Corsewall Lighthouse Station (earlier UPS26), the whole effort cost £7,884 in legal fees and contracts to walk away from (invoices here and here).
=> Fortunately, our long-term relationship with Hay Cassels saw this fee REDUCED to £4,812- (invoice: click here).
We as the Buyer had to walk away from Corsewall because of a staff pension black hole that the solicitors reckoned exceeded £1,000,000 of danger to whoever bought the place.
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How Does The £500 Work
For UPS36?
Rather than get immerse in something the size and weight of a Sannox Syndicate, we are going to roperte UPS36 aas a “back-to-back”. That means it will cost around £5,000 in legal fees, plus time + knowledge of the UPS Crew.
We have done this several times before.
There are already three at UPS-HQ wanting to be part of UPS36 Sanda Island Syndicate.
=> But we think it would be a wee bit selfish not to open this up to all members who fancy joining a modest “back-to-back syndicate.
=> What does each member get for their £500?
=> Simple. A £500 Share certificate in Unique Property Bulletin Ltd.
That is the financial instrument that enables UPS26 to progress.
What then happens is that either UPS26 will work, in which case we suggest you visit the numbers again and get your calculator out (contracts can be VERY valuable)…
Sanda Island
“Title Split”
A]. Proposed purchase at £1,950,000.
B]. Title-split resales add up to £2,962,000.
Deducting £1,950,000 from £2,962,000 leaves a fair lump of cash floating around between ten follk.
ln reality it may be just half of that profit. But for a £500 Grand National type punt, this has the halmarks of a interesting learning exercise.
If you are interested,
please TXT or EMIAL
Russ McLean with
“Sanda £500 Reservation + Your Name”
TEXT: 07398 669 450.
That will let us know whether to spend a significant amount of time on the Sanda Island Project.
=> You will receive 500 x £1~ “Ordinary Class” shares of Unique Property Bulletin Ltd”. Total of £5,000. This is to cover legal fees and contracts.
The 10 members of UPS36 will have an option to either buy a part of Sanda Island, or to receive a slice of profits which are significantly higher than the £500. Why? Because this is effectively a “punt”. Each member is buying an “option” in UPS36.
This is based on our signing a purchase contract with Michi Meier and then doing the right thing (opening up Sanda Island to locals and their guests).
With Sanda Island and the 10 buildings/properties the reverse is true. The Seller misunderstands the law. He utterly failed in 2013 to observe his legal requirements to observe the “right to roam” as enshrined by the Lan Reform (Scotland) Act 2003 and Michi Meier did this which was incredibly unpopular (and borderline illegal…
The Plan?
The plan is to clear all syndicates; sell all UPS buildings and ensure all UPS shareholders are reimbursed by the end of 2024. Then for Russ McLean and the 11 crew at UPS-HQ to recharge batteries with a sabbatical year out to take stock.
Nut when something like Sanda Island comes up for sale, it is well worth while seeing if we can fit in a special project such as this….
^^ Sanda Island Pier ^^
Ideal For The “Loch” Class CalMac Ferries
All of Which Will Be Coming Up For Sale
As New Ferries Are Being Built
^^ Russ Has Been Bidding To Buy One Of These ^^
He has some expired driving credentials that can be reinstate.
Though far smoother to have several friends with their skippers and chief engineer/motorman tickets + ABs join in to drive the new Sanda Island ferry….
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^^ Sanda Lighthouse Tower
& Keeper’s Houses Close By
^^ Sanda Island: Estate Agent Video ^^
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Contact Details
If you fancy a very modest £500 share of this Sanda Island title-split and back-to-back purchase/sale experience, feel free to get in touch…
The email address is: unique@uniquepropertybulletin.org
Or TEXT: 07398 669 450.
Or post: Russ McLean, Unique Property Bulletin Ltd., 21m Thistle Street, Carnoustie, Angus, DD7 7PR.
Or Landline: 01241 852127.
Very best wishes, Russ.
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Sanda Island
Full Rightmove Details
Click Here
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