New rules requiring holiday village developers to explain the investment risks are about to come into force in France, as investigators try to uncover the mechanics of a Creuse project which left some people facing serious financial losses.
Negotiated by the Fédération Nationale des Résidences de Tourisme, Apparthotels et Villages de Vacances (FNRT), the rules are expected to come into force before the summer holidays.
“We want to make sure investors in our sector know the risks,” Clémence Farvereau of the FNRT told The Connexion.
“Within the brochures promoting the project, developers must have a pamphlet setting out the risks.”
The sector saw several high-profile failures after the 2007 property crisis, mainly in ski resorts.
More recently, a Creuse development, promoted under the name Halcyon Retreat Golf and Spa Resort, is alleged to have left investors facing five- or six-figure losses.
In early May, a man, believed to be former British police officer Robin Barrasford, was being held in custody in Spain in relation to the scheme, while French authorities sought his extradition.
Their investigation centres on plans to develop the 37-hectare estate of Château La Cazine, in the commune of Noth (Creuse). British developers bought the site in 2010, and it operated for some time as a hotel with a Michelin-starred restaurant.
Financial difficulties
However, the business appears to have run into financial difficulties from 2016 onwards, including debts owed to Urssaf, the agency responsible for collecting social security contributions.
In 2011, plans were unveiled for a €40million investment, including renovation of the hotel and restaurant, a spa, a nine-hole golf course and tennis courts, as well as 30 holiday apartments.
Later brochures increased the number of flats and holiday homes to 358 and said the golf course would have 18 holes.
Luxury villas on the edge of the forest were listed at prices of €1million.
Investors were told they could either use the properties themselves or rent them out, with all maintenance and management handled by the company.
Mr Barrasford was managing director of a company called Château La Cazine SAS within the development, alongside business partner Alan Bird, who was president.
In May 2024, the company declared that it could no longer pay its debts and entered judicial reorganisation proceedings.
The hotel and restaurant closed for the winter of 2023 and did not reopen in 2024.
Criminal investigation
The chateau and grounds were searched by police officers in March 2025, in an operation co-ordinated by Europol involving 30 vehicles and a helicopter.
Château La Cazine SAS was placed into judicial liquidation last October after the commercial court in Guéret found there was no prospect of the business recovering.
The Facebook page for the holiday village development, Halcyon Retreat Golf and Spa Resort, published its last post on August 29, 2025, promising:
“Your dream holiday home in France."
“Fully furnished and completely maintained, so all you need to do is turn up and enjoy a hassle-free escape.”
The post was accompanied by a computer-generated image of a new house with smiling people outside.
Devon and Cornwall Police are also investigating the case, as another company linked to the development – Halcyon Retreat UK – is registered in Tavistock. A number of other companies with Halcyon in their name have the same address.
“No arrests have been made at this time. Enquiries are ongoing,” Devon and Cornwall Police said in a statement in early May.
A Manchester legal firm, Richard Hartley Law, is inviting victims of alleged fraud linked to the scheme to join a ‘no-win, no-fee’ group action.
Tens of millions claimed
UK-based private investigator Seth Freedman, who works for a company called Red Mist, was hired by Lisa Johnson, who invested €250,000 for an off-plan holiday home in 2021.
“Nothing was built and she hired us to try and get her money back. She has gone public to warn people,” he said.
Mr Freedman added that when one of the Halcyon-linked UK companies was liquidated last October, accounts showed €24million received and €24million paid out.
“You can call that strange,” he said.
He estimates that the total sums claimed by investors are in the “tens of millions”.
Le Parisien reported that as part of the French investigation, the La Cazine estate – estimated to be worth €2.5million – has been seized by the Agence de gestion et de recouvrement des avoirs saisis et confisqués, the agency responsible for managing assets linked to criminal activity.
The newspaper said sources believe total claims against the holiday village development are around €16million.
Only a small number of the new properties were ever built, and local residents told Le Parisien they believe construction equipment was sometimes brought on to the site to give the impression that work was continuing while prospective buyers were entertained at the chateau.
Social media posts have suggested that some UK investors might have a claim against the UK banks they paid through under new Contingent Reimbursement Model and Payment Systems Regulator rules, designed to protect people from fraud.
However, the UK’s Financial Ombudsman Service told The Connexion that it could not give a definitive answer whether the rules would apply.
“It depends on many factors. If people think they should have had more protection from their bank to stop transfers they made, they must first complain to their bank, and if they are unhappy with their response, they can then contact us,” a spokeswoman said.
Ms Farvereau said victims in France could go to court but were advised to seek mediation with the developers first.
