More about the activities of Display Partners has been revealed by an island resident who attended the ‘open day’ in Barcelona Terrace recently.
The local who attended is well known to many and, understandably, does not want to reveal their identity at this point in time, but will make the comment below available to the Department of Fair Trading, the ACCC and ASIC.
Our ‘reporter’ introduced their comments with the following: “The mood of crowd certainly was strange. The couple with me thought we had arrived at a sort of 'happy clappy' church gathering.
“By the time the person now known to me as Zac Mar had 'concluded' his conversation with me his body language was not good.
“He had 90% turned his back on me. We only recognised about 4 faces.”
The open day offered the choice of free wine, champagne, beer or soft drink. I was referred to speak to a gentleman who introduced himself as Zac.
She: What part do you play in this business?
He: The financial part
She: So you are you the financiers?
After more questioning it was disclosed they termed themselves ‘financial brokers’ who offered their services to open the line for the financial support for building homes on the island
She: Who builds the homes?
He: We have mainland builders who will build a quality home not seen before on the island worth approximately $365k . They are already designed (two pamphlets were pointed out to me, both looking very similar to Clarendon style) Three bedroom, two bathroom, lowset, double garage
She: So no local builders are involved?
He: Some local tradesmen will be used for the fit outs
She: I own land on the island . What could you do for me?
He: We could build on it.
She: How much would it cost?
He: Have you built before?
He : How much did it cost?
She : It was a while back about $180k
He: No, we are building quality homes
She: What is happening with the homes you are building?
He: Some would be rented out to the builders while they are building on the island for $390 per week
She: Could I rent a home to them for that amount
She: So you just organise the finance?
He: I don’t really think we can assist you
We were interrupted by a tall fellow with sandy short cropped hair who had been pouring drinks but hovering.
He: We have a display area around the corner, we will be getting more fittings in next week. Why don’t you go around and have a look.
On display were four large floor tiles, a book of sample for bench finishes, six smaller tiles, one shower head and one tap set both mounted on the wall.
Two representatives of L.J.Hooker Russell Island were there. When asked what role they had with this company they replied they would be supplying...procuring the land for the clients to buy.
She in conclusion: Good source does tell me that this company has:
1. Promised a loan to people who are unable to get loans due to poor credit rating. They paid 5k up front
2. One couple have been directly been asked to access their super. They pulled out at the last minute.
No one should hand over any money to anyone until all information is obtained and a loan has been put in place and documents signed. The bona fides of the financial institution need to be verified and the loan details verified by the financial institution, and no-one else!
• The home in Barcelona Street used as a display centre.