# Castle Carbery Properties - "Polska Fund"



## DrMoriarty (16 Sep 2005)

Did anyone happen to attend the information seminars on this investment syndicate in the Polish residential property market? Or know anything about Castle Carbery Properties/Messrs Scully & Coll? The CCP [broken link removed] seems to be under development, and the SWS one doesn't give a lot of detail...

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## Duplex (17 Sep 2005)

With Polish unemployment increasing, is now a good time to join the paddy wagon tour of European bubble markets?





http://quote.bloomberg.com/apps/news?pid=nifea&&sid=aB7rD0WL7n44


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## techman (19 Sep 2005)

I got some info on a "Polska Fund" through a PrimaFinance.ie email newsletter.

What do you think of it?

See here:

Unique Polish Property Investment offering Return of 15.5% Annually

The Polska Fund offers Irish investors a unique opportunity to invest in the growing Polish residential property market. The fund will focus on developments in the capital Warsaw and the second city of Krakow.

Investors funds will be used to purchase prime development sites, a number of which have been identified. These sites will be used for the construction of quality apartments, mainly for the local market. Funds will be spread across a number of different development projects to spread investors' risk. The Polish market is poised for growth with an additional 1.6 million households by 2010. There is poor quality existing housing stock and with growing real wages, demand for new properties is expected to be very strong.

The following are the key features of the investment.

    *  €21 million to be raised in investor loans over a nine month period.  Minimum unit investment of   100,000. (Ask us about loan facilities for this investment)
    * The investment will have a term of between 2 and 4 years.
    * Returns. It is anticipated that the fund will pay a fixed preferential return of 15.5% compounded annually. On this basis an investment of   100,000 would grow to   178,000 after 4 years. Please note that the return will not be paid on an interim basis - only when properties are developed and sold.
    * It is expected that investors contributions will be secured on the actual development sites, though the investment will rank after bank debt used for the construction of the apartments.  Investors will get priority on return of funds before any return to the developers.
    * Taxation. This should be regarded as a material investment in an offshore fund.  Therefore the gains on the investment would be subject to tax of 23% for individuals and 25% for companies.  This should also be an attractive investment from a tax point of view for pensions.

It is anticipated that the entire fundraising process will end soon so if you are interested, please call us on 1890 456 700 or send us an email with your contact details. Approximately   10 million has already been raised so please contact us soon if you are interested in obtaining an information memorandum.



Primafinance Ltd. t/a Primafinance.ie is regulated by the Irish Financial Services Regulatory Authority a Multi-Agency Intermediary and a Mortgage Intermediary.

Disclaimer: This email should not be considered investment advice or a recommendation to invest in any product or use any service. If you are unsure about which product or service is suitable for you, contact us and we will arrange for a Primafinance.ie adviser to help you. Where investment products are discussed, please remember that past performance does not guarantee future returns and the value of your investment can fall as well as rise.  Whilst every effort is made to ensure accuracy, Primafinance.ie cannot take responsibility for any errors or omissions in the information provided.


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## DrMoriarty (19 Sep 2005)

If it's such a 'unique opportunity' and the anticipated returns are realistic, why are these guys traipsing around the country hosting free seminars in hotels? Sounds like a lot of hard work to sell a 'sure thing'... 

The only detail about Castle Carbery Properties I could find was that they've 'already invested >€60m in Poland on behalf of Irish investors' ...but nothing about how well those ventures have performed.


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## ubiquitous (20 Sep 2005)

For what its worth, I spent the guts of a week in Krakow this summer and thought that the city looked grubbier and noticeably less prosperous than the same time three years ago. This was particularly the case in and around the Kazimirez area where a number of the shops & galleries I noticed previously were now gone without being replaced. Most of the businesses there seemed to be doing very little business in what should have been the height of the tourist season.


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## Johnny1 (12 Feb 2007)

I attended the siminar in blarney in 2005, that was the last meeting in the country they said that they had already collected 15 million at that stage so you would have to pay within 3 days if you were intrested. I gave them my details but didn't go ahead they never contacted me after. I heard that the fund was collected quickly and it closed.


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