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Post by mrclondon on Nov 7, 2017 12:19:30 GMT
The planning officers report which is due to be considered by the planning committee next week recommends acceptance subject to various conditions and a S106 agreement. The only objections deemed worthy of discussion concerned the limited parking (4 places), but the council's highways officer is not objecting.
Hint: Search the Liverpool planning portal for 425 W-D Road. The planning officers report is an attached word doc labelled as "Officer Report Committee"
The link to the planning application is available on DD Central.
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rogerthat
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Post by rogerthat on Nov 7, 2017 12:54:39 GMT
Just been discussing this at length on chat...seems rather vague to me...where is Officer report Committee ?
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Post by mrclondon on Nov 7, 2017 13:15:07 GMT
Just been discussing this at length on chat...seems rather vague to me...where is Officer report Committee ? On the Liverpool Planning portal website, click the "Related Documents" link at the bottom of the page, then look for "Officer Report Committee" in the table of documents.
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rogerthat
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Post by rogerthat on Nov 7, 2017 13:24:00 GMT
10 - 4...got it Edit...Fairly standard detailed report.. looks like it might be a goer of sorts
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michaelc
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Post by michaelc on Nov 7, 2017 18:52:57 GMT
Worth also a quick streetview. If it doesn't get pp I can't see it being worth what is stated.
Also, in my area, I _think_ all plans going to the full planning committee are officer approved. If the officer didn't want to recommend, it wouldn't get to committee. Committee is for applications with more than a certain number of negative comments received. The councillors usually rubber stamp officer's decisions but definitely not always. If they do go against, it is more likely that app would be approved on appeal because in theory the officers and the government appeal inspectors come from the same line of professional planners and planning theory etc.
And thanks for mrclondon for the hint - liverpool planning isn't that easy to navigate. e.g. I couldn't see where to search by postcode for example.
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mikes1531
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Post by mikes1531 on Nov 7, 2017 21:06:47 GMT
If it doesn't get pp I can't see it being worth what is stated. I'm concerned that it might not be worth the stated amount even if it does receive PP. The VR bothered me because the valuer didn't even look at the interior of the building. If the building hasn't been used for a while and looks semi-derelict from the outside, who knows what nasty surprises could be lurking inside that might make the proposed refurbishment/conversion uneconomic? And the valuer has a 'get-out-of-gaol-free' card because this is stated in the report. Considering the current state of the building, and the apparently minimal objections to the PP application, I would expect the planners to be happy to approve the development request, but the question in my mind is whether the borrower actually can do the job. I presume they must think so or they wouldn't be buying the building. Unless, of course, they're paying less than £192k for it. I wonder what they expect the development to cost, and whether that's based on a back-of-the-envelope guesstimate, or whether they've had builders' estimates that are based on more than just the proposed plans -- i.e. having had access to the interior of the building to see its current state.
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sirius
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Post by sirius on Nov 7, 2017 22:02:12 GMT
Time after time we never get told how much the property was purchased for.
A definite no from me.
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Post by mrclondon on Dec 11, 2017 15:32:59 GMT
fundingsecure the planning portal at Liverpool has not been updated since the committee meeting of 14th November, i.e. it still states the application is under consideration.Could you please attach some form of confirmation from the council that approval has indeed been granted to the new loan that is due to go live at 5pm today. The increase in the loan to £262,500 takes it very close to the no planning permission valuation of £275,000 (I was in the original loan, but will drop out at this point without evidence of planning having being granted)
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Post by zeverare on Dec 11, 2017 15:42:58 GMT
building costs less than 20000 per apartment?
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adrian77
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Post by adrian77 on Dec 11, 2017 16:16:52 GMT
I can't install flats for this price so another one for the interesting one to watch list...
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Post by mrclondon on Dec 11, 2017 17:10:03 GMT
The loan facility is for £550,000 which after deducting the £192,500 purchase price, leaves £357,500 of development funding available, or £27,500 for each of the 13 one bed apartments in a building that is semi-derlict (according to the VR which didn't venture inside the building as a result). Still sounds (very) ambitious.
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SteveT
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Post by SteveT on Dec 11, 2017 17:43:18 GMT
fundingsecure the planning portal at Liverpool has not been updated since the committee meeting of 14th November, i.e. it still states the application is under consideration.Could you please attach some form of confirmation from the council that approval has indeed been granted to the new loan that is due to go live at 5pm today. The increase in the loan to £262,500 takes it very close to the no planning permission valuation of £275,000 (I was in the original loan, but will drop out at this point without evidence of planning having being granted) I managed to locate the minutes of the Planning Committee meeting last week, which confirmed that the application was approved. No idea why it's taking the officers so long to update the portal.
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Post by zeverare on Dec 11, 2017 18:39:54 GMT
The loan facility is for £550,000 which after deducting the £192,500 purchase price, leaves £357,500 of development funding available, or £27,500 for each of the 13 one bed apartments in a building that is semi-derlict (according to the VR which didn't venture inside the building as a result). Still sounds (very) ambitious. - 6 month interest and FS costs on 192,500 - 6 month interest and FS costs on 262,500 if it is not ready and sold within 6 months
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Post by mrclondon on Dec 11, 2017 19:01:28 GMT
Good point zeverare , however the £192,500 loan was repaid this afternoon, along with 1 months interest. Clearly the loan facility will need to include finance costs for at least one renewal of the initial loan and the first few development tranches as a build of more than six months must be expected.
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rogerthat
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Post by rogerthat on Dec 11, 2017 20:01:30 GMT
Good point zeverare , however the £192,500 loan was repaid this afternoon, along with 1 months interest. Clearly the loan facility will need to include finance costs for at least one renewal of the initial loan and the first few development tranches as a build of more than six months must be expected. For at least one renewal....exactly...jump, count to 3 and pull the rip cord
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