paulb
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Post by paulb on Sept 3, 2018 9:53:29 GMT
Photos taken 11am yesterday (1st Sept)
Thanks for taking the time to take these photos, and for posting them for us all to see.
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adrian77
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Post by adrian77 on Nov 17, 2018 10:50:13 GMT
well it is not take 10 days to determine the legal status of a sales progress.
Given that this and other so-called "updates" are don't exactly fill me with confidence I am worried there is no sales progress.
Well I must be even thicker than I thought as I can't see evidence of this being done.
I have just read the excellent mrclondon DD and am even more worried!
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rogerthat
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Post by rogerthat on Dec 13, 2018 13:26:10 GMT
7 mins ago (13/12/18) As we still have not received the necessary proof we have now appointed receivers who are in the process of assessing the property. They will, of course, take into account any potential buyers. If proof of sale is provided and the sale progresses we would always have the option of removing the receivers, but this would only happen at the point funds were actually received.
A further update will be added once we have the initial receiver's report - or if any further update on the proposed sale occurs.
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rogerthat
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Post by rogerthat on Dec 31, 2018 16:00:00 GMT
E.mail 15.53.. 31/12/18..(1 of 3 ..so far) 2452378963..UNREDEEMED
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adrian77
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Post by adrian77 on Dec 31, 2018 16:15:30 GMT
Yet another property loan goes pectorals up ! I wish I had never heard of FS ...
However I would value this plot at £500K so for a fire sale £400K - may go for more because of the location but who is buying in this pre-Brexit market - chancers looking for bargains!
I have budgeted 50% recovery on my investment but hoping for 75% and praying for 100%!
update - looks to me as if there is no meaningful planning permission and I can't see any land survey report - former industrial docklands (dating to pre-Victorian times?) so may be contaminated etc - may even be an infilled dock - also I recognise the valuer- don't we all !
It is in the middle of an industrial estate with no waterfront view - area looks totally unsuitable to me for domestic housing - I should have done my own DD rather than trust FS's DD!
Happy New Year to all fellow forum members...
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rogerthat
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Post by rogerthat on Jan 18, 2019 10:36:54 GMT
14 mins ago 18/01/19
The receivers have confirmed that we should expect their initial report by the end of next week, once we have this report we will provide an update with further details.
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rocky1
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Post by rocky1 on May 17, 2019 15:47:34 GMT
update on FS site, not good reading,are these PGs from borrowers worthless?bloody sick of FS and p2p in general. to much BS and problems with to many loans across the board.
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adrian77
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Post by adrian77 on May 17, 2019 16:50:11 GMT
The below is what I wrote in November
so no renewal, no interest paid and looks like no planning and yet again no sign of OUR money (I am in this one)
One minute this one is worth £1.8m and the next minute it can't be sold - I was hoping for a 50% recovery on this one but I just seen who the "valuers" are - yes the ones with the pencil initials so now I am really worried!
Well done FS - yet another brilliant result - speaking of which - what's the news about the garden sheds park homes?
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adrian77
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Post by adrian77 on Jul 31, 2019 7:43:57 GMT
and 15 months later
i.e. it's a lemon - I am in this one so right pillock Good to know all local developers will have read the above so can smell blood...I guess the only option is, yet again!, take the damn thing to auction and/or offer it to the trade and get rid of it. As I said earlier this one looks like another mega horlicks to me and I am not expecting over 50% to be recovered
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kielbasa
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Post by kielbasa on Jul 31, 2019 7:54:39 GMT
"Very low levels compared to the capital"? The capital is £899,500k. What are we talking about? £150k or something?
Our favourite valuers, Hard** ***ck, reckoned this acre was worth £1.8m.
I reckon a lot of investors thought this one would be safe as houses, lending at just under 50% LTV.
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james21
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Post by james21 on Jul 31, 2019 8:24:46 GMT
If you look at the artists impression of what he wanted to build its a 20 story high rise building, (sounds familiar?), there wont be any appetite to build this given all the problems with grenville, and herculeum is just across the water. The site is small just one acre so is it viable for low rise? yes but the value of a lot of this size on the edge of an industrial area might be £400k, its not rocket science look it up on the internet. This fellow has had close to a million from us, feel conned? I do
The valuation of £1.8m is based on the site being built high rise
They have had little interest because there are many residential plots on merseyside and there is nothing special about this one
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09dolphin
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Post by 09dolphin on Jul 31, 2019 9:51:01 GMT
Hi I note that the valuation is shown as being 1.8m. However, reading the VR it clearly states that it is based on the ' proposed' PP being granted. Surely, this makes its true value, at this moment in time, in the region of £720k, making the real LTV 100%++? Yet another FS offering that is anything but secure and where they obviously hope people don't read or understand the valuation. Have FS no shame?
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adrian77
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Post by adrian77 on Jul 31, 2019 11:09:40 GMT
what an interesting piece of DD - anybody, like I, not local please see below if interested www.liverpoolecho.co.uk/news/business/administrators-called-herculaneum-quay-tower-14845165I missed the fact the valuers were of sharp pencil fame - oh dear, oh dear, oh dear! I have read their report and saw no mention of the true situation in Liverpool. The artists painting is a joke - no sane developer would build such a building in such an area - opposite a car tyre depot in a business park- classy! This is not on the waterfront so I consider all the FS spiel as highly misleading The horlicks in New Brighton is not 1 million miles away so that is not exactly going to help is it! Funnily enough james21 and I both had this one down at £400K...I really can't see it going for much more after expenses...
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rogerthat
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Post by rogerthat on Jan 15, 2020 14:32:39 GMT
"Very low levels compared to the capital"? The capital is £899,500k. What are we talking about? £150k or something?
Our favourite valuers, Hard** ***ck, reckoned this acre was worth £1.8m. I reckon a lot of investors thought this one would be safe as houses, lending at just under 50% LTV. You Sir should go top of the class..an update just in says that an exact offer has been accepted..original valuation £1.8m 9 mins ago "Appointed receivers Av***n Y***g have received and accepted and offer of £150k. Given the anticipated shortfall, we are considering options that may be available to compensate this position."
An utter disgrace..the 'valuers' ought to be brought to book
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kielbasa
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Post by kielbasa on Jan 15, 2020 14:44:04 GMT
Another Hardie Brack special! Take a bow, HB.
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