A caravan park billionaire who claims he was forced into bankruptcy by a drugs cartel is at the centre of a new legal row over his properties.
Bob Bull, 47, whose estimated fortune of £1.9 billion took him to #88 on the Sunday Times Rich List in 2023, once boasted 12 supercars and shared a stunning Hampshire mansion with his glamorous Norwegian wife Sara Nilsen, 32.
The home, which he has now vacated, included a swimming pool, tennis court, cinema room, bowling alley and gym, all set in nine acres of grounds.
The entrepreneur dubbed ‘Bungalow Bob’ famously went from being too poor to buy a takeaway burger to billionaire status after turning caravan parks into bungalow villages with his company Royale Life.
But in late 2023, Bull was said to be in debt to the tune of £725 million and claiming that he had been the victim of a campaign of hate by the Kinahans, a notorious Irish drugs family with links to deadly Mexican cartels.
And now in a separate blow, the fall-out from a £34 million loan he took out in 2021 has resulted in a High Court lawsuit against two upmarket property firms and a solicitor, with the lender claiming Bull’s caravan parks were ‘negligently’ overvalued.
Bull borrowed the money from MSP Capital, secured on seven of his caravan parks, but then defaulted on repayments, leaving the company £40 million out of pocket, according to a High Court claim.
Now MSP Capital is suing chartered surveyors Savills (UK) Ltd and Avison Young (UK) Ltd, claiming they were negligent in valuing the properties. The finance company’s claim is also against Birmingham solicitors Hadgkiss Hughes & Beale for negligence and breach of contract.
Robert Bull, who was declared bankrupt last year, and his Norwegian wife Sara (Instagram: @Saranilsen)
The couple were forced to give up their stunning Hampshire mansion after he went bankrupt in December 2023 with debts of more than £700 million
MSP Capital made seven loans to Bull between December 2020 and October 2022, secured against the caravan parks, and he planned to develop the sites by increasing the number of caravans on the site, the court will hear.
But after he went bankrupt in December 2023 with debts totalling £700 million, he now owes MSP more than £40 million after giving personal guarantees for the loans.
MSP says it would not have lent him any money if the valuation reports had not been made negligently, and claimed the sites did not have any planning permission or lawful development certificate for the intended use, or the planned development was not feasible, and the reports overvalued the properties.
Savills valued two of the properties, and Avison Young the other five, and the solicitors were instructed to obtain personal guarantees from Bull to provide certificates of title to the properties being valued, the claim says.
Lawyers Hadgkiss Hughes & Beale, based in Birmingham, were also supposed to check that the sites had planning permission or certificates of lawful development.
MSC say that Savills and Avison Young failed to provide reasonably competent valuations of the properties and did not search the local authority’s database to check on the planning consents for the sites, and failed to advise MSP that the development plans for the sites were not feasible, it is alleged.
The legal firm failed to draw MSP’s attention to the fact that the planning permissions and lawful development certificates were not authentic, or were insufficient for the proposed developments, the claim says.
The caravan sites were worth far less than the valuations given and were inadequate security for the loans, says MSP.
‘A great day for new beginnings. Exciting times ahead’ Sara wrote back in June (Instagram: @saranilsen)
The Georgian style property sits on 9.12 acres of gated grounds and includes a garage for six cars
The house includes a pool with steam room and spa, gym, games room with a three lane bowling alley as well as a cinema room with seating for eight, among other things
The mansion even comes with a three lane bowling alley
A description of the property on Rightmove said: ‘On entering you are aware that this is no ordinary home, the reception hall is vast with a central split flight staircase to the first and second floor.’
The entrepreneur dubbed ‘Bungalow Bob’ famously went from being too poor to buy a takeaway burger to billionaire status after turning caravan parks into bungalow villages
Some of the cars which the couple owned included a Lamborghini Urus and a Bentley. ‘She has watched cars disappear off the driveway and never said a thing,’ Bull said of his wife.
MSP says Savills and Hadgkiss Hughes & Beale are liable for the difference between the market values they gave, and the true value of the sites, while the solicitors are liable for the difference between the market value of the sites at the date of the loans, assuming they had planning consent, and the true market value. The firm values its claim at more than £10 million.
Bull’s companies, which borrowed the money from MSP, defaulted on the loans and MSP has not yet managed to sell any of the properties, the court will hear.
MSP says that although both valuers try to limit their liability for their reports, these limits are unenforceable and unreasonable, arguing that the firms should pay the full extent of any losses upheld by the court.
Bull revealed last October that he had commissioned a team of former Scotland Yard detectives to compile a dossier on his nightmare.
They concluded that ‘Mr Bull has been the victim of a conspiracy to defraud him, to destroy his £4billion caravan, bungalow and holiday parks business’.
It alleged that the perpetrators have benefitted to the tune of £46million and that constant threats made to his family led to the death of his father, also named Robert.
Bull said he was fighting to overturn the bankruptcy and claimed he had secured over £1billion of funding to get the business back on its feet.
Bull paid a glowing tribute to his wife Sara, saying: ‘You could look at her and say she is a beauty queen but she is a prettier person inside than you would ever know’
The property has six bedroom suites all with contemporary bathroom suites from Porcelanosa
The cinema room has capacity to fight eight people to enjoy a good film
Leisure facilities extend outside with an enclosed flood lit tennis court and mini football pitch
The leisure facilities a games room complete with raised seating areas, full bar and a three lane bowling alley
There is an outside kitchen with granite worktops to the preparation areas, a pizza oven and two BBQ’s, in addition to an open fireplace.
The property on Botley Road, Curdridge, Hampshire has been listed as having six bedrooms with an suite and eight bathrooms
The room which leads to the balcony of the property near Southampton, Hants
Rightmove said: ‘The property has been thoughtfully designed and offers a luxury and versatile home, suited for entertaining on a grand scale and family living alike
There is a pool table and raised sitting areas in the games room as well as a three lane bowling alley
The principal bedroom suite is impressive with a sitting area and a substantial Clive Christian dressing room
The raised sitting area which the Hampshire property going for £6.25m boasts of
A description on Rightmove said: ‘There are three reception rooms in this area along with a fabulous open plan family/kitchen/breakfast room’
He said: ‘If I don’t appeal the bankruptcy, I’m finished.
‘I’d rather jump out that window than let that happen because that is dishonouring my dad’s grave, dishonouring all my beautiful family.’
He paid a glowing tribute to his wife Sara, saying: ‘You could look at her and say she is a beauty queen but she is a prettier person inside than you would ever know.
‘She has watched cars disappear off the driveway and never said a thing.
‘They have been repossessed because criminals have come for my companies.
‘The moment you are bankrupt, all your finance agreements are dead.
‘If the judge who heard the bankruptcy knew I was the victim of criminality I think the bankruptcy would have been thrown out.
‘These people have taken me to the limits of my life and my wife says ‘I’m there for you’.
A spokesman for Hadgkiss Hughes & Beale said that all allegations were denied and they had indicated to the Court and the other parties their intention to defend the claim.