Dunas & Llana Beach resorts

Latest updates

• 26 Aug, 2025

  Update on Dunas Beach & Llana Beach investments held in SIPPs or SSASs

  We’ve received enquiries from customers whose self‑invested personal pensions (SIPPs) or small self‑administered schemes (SSASs) hold interests connected to the Dunas Beach and Llana Beach resorts.

  Fractional ownership interests

  If you are proposing to dispose of a fractional ownership investment to enable the closure of your SIPP or SSAS, please note:

  • FSCS will not be seeking to assert or exercise any interest or rights it may otherwise have in respect of the investment. This includes any proceeds received as a consequence of its disposal.
  • If you wish to close your SIPP or SSAS, please liaise directly with your scheme operator and/or trustee to arrange the disposal and the scheme’s closure, as appropriate.
  
  

  Full ownership investments
  
  If you own a Dunas or Llana property outright (full ownership) and intend to sell:

  • You may proceed with the sale; however, you are bound by the FSCS terms and conditions you agreed to when you received compensation.
  • If you have been fully compensated for your losses, you will need to repay to FSCS the sums you receive from the sale up to the amount of compensation paid. (This ensures that you are not compensated twice for the same loss).
  • If you have any uncompensated losses (an “abatement”), the sale proceeds can be allocated against it. Any amount received that’s more than the abatement must be accounted to FSCS.
  • You must notify FSCS of the sale and provide details (your FSCS reference, property details, expected completion date, sale price and any relevant costs). This is so we can consider and confirm what is due.
  
  

  Note that FSCS cannot provide financial advice or assist with arranging disposals. Please continue to liaise with your scheme operator or trustee and your own advisers, as needed.

  Frequently asked questions

  What’s the difference between fractional and full ownership?
  
  • Fractional ownership: this usually means holding shares or units in a company/SPV that owns the property. (This means you do not hold the legal title to an individual unit).
  • Full ownership: this means you hold the legal title (or a long lease) to a specific Dunas/Llana property.
    
  Do I need FSCS’s permission to sell?
  
  • Fractional ownership: no permission is required; FSCS will not seek to assert rights over the investment or the sale proceeds.
  • Full ownership: you may proceed with the sale, but you must notify FSCS and account for sale proceeds in line with your compensation terms (see above).
  What is an “abatement”?
  
  • It’s the uncompensated portion of your loss (e.g. where compensation was below your total loss). Sale proceeds can first be used to reduce that abatement. Any amount above the abatement must be accounted to FSCS.
  Will this change my compensation decision?
  
  • No. This update explains FSCS’s position on rights and recoveries only. It doesn’t change your compensation eligibility or decision.
  Who should I contact?
  
  • For arranging a sale or closing your SIPP/SSAS: contact your scheme operator and/or trustee.
  • To notify FSCS about a full‑ownership sale or ask questions about accounting for proceeds: Recoveries@fscs.org.uk or 0800 678 1100 (quoting your FSCS reference).

• 21 Sep, 2020

  We’re currently working with multiple third parties to gather the information we need. This should make it quicker for us to process your claim. 

  At this stage, we’re not sure how long this process will take, because these investments are quite complex.

  We’ll only start assessing claims once we’ve got all the facts we need.

  If you’ve already made a claim, and we need more information from you, we’ll contact you. Please don’t contact us about your claim until we’ve finished our investigation.

  Thanks for your patience while we investigate this matter.