Win A Maida Vale Home - Cash Winner
A four-bedroom mansion apartment in a red-brick mansion block situated in Maida Vale is the prize in this competition. The property is valued at £1.8million and at least 85,000 tickets need to be sold.
Winner: Annette Colbron from Milton Keynes
Launched: 11th May 2018 Closed: 31st December 2018
Location: Maida Vale, W9 1HU
House Value: £1800000
Ticket Price: £25.00 (Free Entry Available)
Tickets Sold: 4200 Revenue: £105000 (Estimated)
The actual prize is 107 Biddulph Mansions. The owners are running the competition because they need to move to a more suitable property for their son's needs. The website contains a lot of information about the property as well as plenty of images.
85,000 Ticket Sales
As well as four bedrooms, the property boasts two balconies, loft space that's currently being used as an office, a roof terrace and communal gardens. The valuation of the property has been determined by Kinleigh Folkard & Hayward, and Green & Co.
To enter the competition, entrants need to complete a crossword. The owners aim to sell at least 85,000 tickets - up to a maximum of 110,000. If these targets are reached then the property will be won. The winner will receive £3000 towards costs, fees, ground rent and service charges. An additional cash sum up to £6000 will also be awarded. Details of the various ongoing charges are given in the terms.
Runners Up Prizes
Unusually, Win A Maida Vale Home are also offering a substantial second prize. If enough tickets are sold then £100,000 plus 5 x £10,000 cash prizes will be awarded. Charity donations will also be made to KIDS and The London Community Foundation. The amount will be determined by ticket sales.
In the event that insufficient tickets are sold then the runners-up prizes will not be awarded. However, a cash prize will go to one lucky winner. The amount will be the competition fees less a deduction of 20% for administrative and marketing expenses. A further 5% of sales will go to the named charities.
Note that the competition is only open to England, Scotland and Wales aged 18 years old or over.
Cash Prize To Be Awarded
After closing on 31st December 2018 the owners posted the following: "The Win a Maida Vale Home competition is now closed. As insufficient entries were sold, in accordance with the Competition Terms & Conditions, there will be a single cash prize awarded". The winner will be announced on their Facebook page.
The owners have also posted on Facebook. There was a £105,000 cash fund of which £79,350 will go to the winner. £3000 will go to two charities whilst additional prizes of £2500 will also be awarded. Some of the charitable donation and the extra prizes were paid from the 20% retained for competition expenses (£21,160).
By our reckoning that means this competition lost money to the tune of £10,000! The owners listed their costs of running the competition and these come out at close to £26,000! Expenses include £7400 for tax and legal costs, £5900 for the website, £1950 for payment processing, £9850 for marketing and £180 for PromoVeritas to oversee the draw.
Disclaimer: Details shown above were correct at time of writing and are provided for information purposes only. Images are used under fair use policy. Map location is approximated by Google based on postcode/location info. Any links provided are not an endorsement from Loquax. In some cases Loquax may earn a referral fee from sales this does not effect our review. We strongly advise all visitors do due diligence on each contest before deciding to enter. Terms and conditions apply. Begambleaware.org.
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