|
Post by dan1 on Jan 15, 2018 11:36:35 GMT
MoneyThing - Going live tomorrow, 16th January at 12pm? Email states 15th January.
|
|
|
Post by MoneyThing on Jan 15, 2018 11:39:12 GMT
MoneyThing - Going live tomorrow, 16th January at 12pm? Email states 15th January. Oh bother. Thanks for letting me know...yes 16th. Regards, Ed.
|
|
SteveT
Member of DD Central
Posts: 6,871
Likes: 7,915
|
Post by SteveT on Jan 15, 2018 11:54:01 GMT
They really know how to give their pubs "kerb appeal" in Glasgow, don't they?
|
|
|
Post by badboyyardy on Jan 15, 2018 12:19:41 GMT
Anyone near Glasgow - 6 pub pubcrawl - now thats would be a fun DD exercise...
|
|
ant1
Member of DD Central
Posts: 54
Likes: 23
|
Post by ant1 on Jan 15, 2018 12:23:32 GMT
Anyone near Glasgow - 6 pub pubcrawl - now thats would be a fun DD exercise... Good idea.... first round on you???
|
|
ptr120
Member of DD Central
Posts: 1,197
Likes: 1,345
|
Post by ptr120 on Jan 15, 2018 12:28:16 GMT
I'm pleased to see the wording included in the valuation instruction from MoneyThing. Having previously lived in Glasgow and visited a number of the groups other establishments I can well understand why these premises are seen as non-core assets.
|
|
jjc
Member of DD Central
Posts: 414
Likes: 632
|
Post by jjc on Jan 15, 2018 12:31:54 GMT
The core assets include 3 with loans on Assetz, & a bit more kerb appeal SteveT
|
|
andy1
Member of DD Central
Posts: 103
Likes: 107
|
Post by andy1 on Jan 15, 2018 13:02:26 GMT
Anyone near Glasgow - 6 pub pubcrawl - now thats would be a fun DD exercise... Judging by the look of some of them it might be a "fun" way to get your head kicked in and be left for dead in a car park...
|
|
ptr120
Member of DD Central
Posts: 1,197
Likes: 1,345
|
Post by ptr120 on Jan 15, 2018 13:02:36 GMT
On reading the accounts, it seems that Assetz have a floating charge over all property or undertakings of various group companies. Can MoneyThing confirm that this doesn't apply to our security? I wonder how it impacts the cross guarantee from the topco?
|
|
elliotn
Member of DD Central
Posts: 3,063
Likes: 2,681
|
Post by elliotn on Jan 15, 2018 13:36:07 GMT
(Resident Scot) Magenta - “IMO someone is trying to ditch them”.
Sale by pawn my 1st thought.
MT would argue ltvp otherwise.
(I know what my wife's medical expenses say).
|
|
bod
Member of DD Central
Posts: 83
Likes: 28
|
Post by bod on Jan 15, 2018 13:56:58 GMT
MoneyThing - Going live tomorrow, 16th January at 12pm? Email states 15th January. Oh bother. Thanks for letting me know...yes 16th. Regards, Ed. And loan details say 18th
|
|
bugs4me
Member of DD Central
Posts: 1,841
Likes: 1,465
|
Post by bugs4me on Jan 15, 2018 14:09:32 GMT
Thanks for the feedback @magenta14 - always good to get local feedback.
Personally I'm adverse to anything non-residential unless the LTV is really (or is it realistically) closer to the 50% mark. What confuses me is that if these properties are effectively surplus to requirements then why not just dispose of them on the open market rather than incur some hefty loan fees in the meantime. It simply doesn't add up in my mind as presented.
Perhaps someone could put my thoughts right on this.
|
|
jonno
Member of DD Central
nil satis nisi optimum
Posts: 2,739
Likes: 3,134
|
Post by jonno on Jan 15, 2018 16:07:33 GMT
They really know how to give their pubs "kerb appeal" in Glasgow, don't they? To be fair, number 5 and 6 won't look half bad once the barbed wire and machine gun posts are removed
|
|
|
Post by mrclondon on Jan 15, 2018 16:14:10 GMT
The core assets include 3 with loans on Assetz, & a bit more kerb appeal SteveT Indeed, and given I'm exposed to all three loans on AC, I'm struggling to see a justification for increasing my exposure to this group. Maybe once some of the AC loans have redeemed. AC #388 c. £1.9m overdue since 19th Dec 17, 10% pa 75% LTV AC #389 c. £1.5m overdue since 19th Dec 17, 10% pa 75% LTV AC #244 c. £1.9m maturity 18th March 18, 15.15% pa 73% LTV #244 was originally 12 months to 18th March 17 at 12%, but was extended by 12 months without a lender vote, but at an increased rate. #388 refinanced a smaller £600k loan at 10% (#245) There is c. £3.4m now overdue at AC, and a further c. £1.9m due in 60 days, making a total of c. £5.3m to be refinanced in short order ....
|
|
|
Post by Deleted on Jan 15, 2018 16:37:38 GMT
Countess Bobo did a degree in this fair city and likes the other assets under AC's hand, but these....
|
|