written like an advertisement . please help improve it by removing promotional content and inappropriate external links and by adding encyclopedic content written from a neutral point of view . august 2008 learn how and when to remove this template message imagine homes ltd type limited company industry buy to let investment property founded 2003 headquarters farnborough uk key people grant bovey ceo website www.imaginehomes.co.uk imagine homes ltd was at one point one of the largest purchasers of residential property in the united kingdom . founded by ceo grant bovey in 2003 imagine homes began operating from offices in kew surrey with a total of four employees . in 2007 imagine homes achieved substantial growth with headquarters located in farnborough hampshire offices in canary wharf dubai singapore and dublin and employing over 80 staff worldwide . imagine homes operated in the uk buy to let industry working with established property developers to offer off plan investment opportunities throughout the united kingdom i.e. they would buy properties from developers fit them out then market them to investors as buy to let properties . the company s tag line was the simple way to profit from property . in 2008 imagine homes planned to open the uk s first buy to let showroom on the hogarth roundabout chiswick london . grant bovey s company rode the rise in property prices in the uk and internationally and rode the fall in property prices until bovey lost control in early 2009 after being personally wiped out . 1 in september 2007 the daily telegraph reported that a proposed ipo by imagine homes had been abandoned citation needed . instead the business was recapitalised by a 37.5 m equity and debt injection from hbos . citation needed the flotation plans were put back until 2009 at the earliest . citation needed the decision to pull the flotation was caused by significant softening in the business s main market the sale and rental of new build residential property . the business model of imagine homes depended on buy to let investors feeling confident enough in price rises to buy property with the expectation of rising property prices and rent high enough to cover their costs . citation needed the correction of a prior year accounting errors in the company s report and accounts which had resulted in the overstatement of revenues . after correction of the error the reported losses before tax had more than doubled to 6.42 m in the year to march 2007 compared to 2.81 m for the previous year . citation needed weakening equity markets would not have helped the flotation of an investment prospect linked to the property market . citation needed hbos as part of their refinancing asked for improved corporate governance within imagine homes . they recruited two non executive directors to the board . citation needed on 23 february 2009 the daily mail reported that hbos had taken over the company and that bovey and his wife anthea turner had been forced to put their surrey mansion up for sale . the article quoted them as saying that they had been substantially wiped out and that only a small fraction of their net worth remained . the daily mail also reported that anthea turner is doing television commercials for household detergents to make ends meet as well as a satellite show about ridding your home of pests . 2 3 4 imagine homes limited was placed in administration in may 2009 . references edit http www.dailymail.co.uk tvshowbiz article 1152025 credit crunch victims anthea turner grant bovey sell 5m mansion.html http www.dailymail.co.uk tvshowbiz article 1152025 credit crunch victims anthea turner grant bovey sell 5m mansion.html http www.telegraph.co.uk news newstopics celebritynews 4348665 anthea turner does a madonna in revealing photo shoot.html http www.dailymail.co.uk news article 1076708 anthea turners husband grant bovey loses buy let empire credit crunch.html external links edit official website retrieved from https 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