Manchester, United Kingdom — 16/09/2026
Close to 10,000 investors are likely to have lost over £1 billion to unlawful property investment schemes by major UK property developer, X1 Developments.
Thousands of unwitting investors across the world ploughed millions into unlawful investment schemes by X1 Developments. After initially being offered ‘guaranteed returns’, they now face the reality of racking up circa £1.6bn in losses. X1recently wrote to investors explicitly stating that they can no longer pay the ‘guaranteed returns’ offered to them at the outset, citing ‘rental market changes’ as the reason.
Despite this, X1Developments and its associated companies continue to advertise new developments with similar “guarantees”. The longer investors are stuck with these properties, the more money they lose as the value eventually plummets to zero – due to the lack of ‘Good and Marketable Title’. People who sought to set up their retirement are now left with a worthless property, that is near impossible to sell and haemorrhaging money.
Following comprehensive investigations, UCIS Prof Neg is now working with the UK’s Top law firms as a point of contact for groups of investors. Dozens of worried investors have already been in contact. Together, they will help investors to recover the millions lost in these illegal Unregulated Collective Investment Schemes (UCIS) operated and developed by X1 Developments across the UK.
Financial regulations clearly state that these schemes can only be set up by regulated individuals, and none of X1’s companies or directors are.
Some developments had not even completed before units were sold off plan. Investors are being hit with rising service charges while tenants consistently experience issues, such as; black mould, major fire hazards, pest infestation, security hazards caused by damp etc. X1 Sales & Lettings (registered as X1 Property Management Limited or X1 Management Limited) manage all X1properties and share directors with X1 Developments Ltd. Investors have consistently struggled in their fights to have the right to manage the developments – not only with X1 but many others too.
Directors prominently named across X1’s various Special Purpose Vehicles (SPVs) include Lisa Mary Smith, Edward Andrew Hill, Stoneoak Investments Ltd (an offshore company in Gibraltar), Anthony James Bennett, Robert Edmund David Meyer, RTMF Services Limited and Raymond William Smith.
Two of these SPV’s have entered administration in recent months, namely, X1 Media City Limited and X1 Manchester Waters Ltd with the latter owing £25.7m to creditors.
Former Head of Insolvency at BDO, a Director at UCIS Prof Neg, and expert on these matters, Dermot Power, highlights the importance of this action, saying, “These Investors in X1 have suffered significant losses on a large scale given the size of X1’s portfolio. We have been investigating the X1 scheme for some time and are proud to have Hugh James working with us and helping investors get their money back. Some investors have invested with the hope of setting up their future but instead have been left with significant losses; we are glad to help them recover most of that and put a stop to these unlawful schemes.”
Statistics and Facts:
- X1 Group Charges show 80 total charges with only 30 satisfied.
- 9 out of 15 accounts are at ‘High’ or ‘Maximum’ Risk according to an Experion Creditworthiness report. 2 of the 15 accounts are also marked as ‘Dormant’ and therefore the score is ‘Supressed’. (as of early 2026, late 2025)
- 41 individual developments across the UK. Majority being in Manchester (27) and Liverpool (10). (**more information available upon request**)
- 10 413 units across all X1 developments we know of in the UK.
- Total approximated value of the scheme – £1,638,194,655.
- X1’s Media City Development Scheme (Phase 1 & 2) alone holds an investment value of approximately £574,854,580.
- X1’s Manchester Waters Scheme alone holds an investment value of approximately £159,272,160.
About UCIS Prof Neg
UCIS Prof Neg is a highly specialist professional negligence firm which seeks to provide guidance to investors on their investments in Unregulated Collective Investment Schemes (UCIS) through examining their investment documentation to gauge whether they have a substantial professional negligence claim. This is ultimately decided through investigating the development and developer alike and ascertaining whether their investment model is that of a UCIS, thereafter a report is given and the case referred to solicitors who action a claim. For more information on this, please get in touch via the details below.
Media Contact
Name: Matthew Sanders
Title: Public Relations & Marketing Executive
Email: info@ucisprofneg.co.uk
Phone: 0203 758 9119
Investor/ Leaseholder Contacts available upon request