Post by bengilbert on May 8, 2017 18:21:09 GMT
B******l Road, Sandbanks (BPF702)
The borrowers continue to await the planning decision including the adjacent site. The planning officer advised last week that she was just waiting for their own internal assessment on the affordable housing contribution to be finished, which she hoped would have been available the previous week. At the moment, the planning officer’s intention is to write it up for approval under delegated powers, in which case it should come through within the next couple of weeks. There is a chance, however, it may need to be rubber stamped by committee, in which case it may be the beginning of next month.
Residential Development - Streatham (BPF585)
The loan is on track to repay on Friday 12 May.
Sutton Coldfield Bridging Loan (BPF621)
The sale of the property is moving forward.
M***** H*** Development Loan (BPF407, 501, 526, 553, 584, 600, 679, 697 & 705)
Of the four restaurant units, the leases have been agreed with three restaurants and the fourth is just waiting for planning approval for their plans. They have received agreement in principle and full consent is expected by the end of the month, allowing fit-out to commence in June and the restaurant to open in October. The retailer in the basement is still on track to open in July, and the planning consent on the adjacent site is still expected by 7 June.
W***n Hotel Development (BPF528, 571, 587, 622, 631, 693, 703 & 710)
Work is still progressing and the hotel is on track to open in July, if not June. We have met with the borrower and refinancing bank, and continue to work with them on the refinance of our loan.
Lut** Bridging Loan (BPF698)
The planning application has been resubmitted and the borrower is waiting to hear back.
Residential development in Birk**** (BPF536, 537, 541, 542, 566, 567, 588 & 589)
Progress is still being made although it remains slower than expected.
Solihull Residential Development (BPF629)
The borrower has received an offer to purchase the property off-plan, and is considering whether to accept this. They are waiting to decide on this before making a further drawdown request.
Pershore Residential Refurbishment (BPF632)
Works are progressing. A drawdown is expected towards the end of May.
Lancashire Residential Park (BPF 706)
Drew down late April.
The borrowers continue to await the planning decision including the adjacent site. The planning officer advised last week that she was just waiting for their own internal assessment on the affordable housing contribution to be finished, which she hoped would have been available the previous week. At the moment, the planning officer’s intention is to write it up for approval under delegated powers, in which case it should come through within the next couple of weeks. There is a chance, however, it may need to be rubber stamped by committee, in which case it may be the beginning of next month.
Residential Development - Streatham (BPF585)
The loan is on track to repay on Friday 12 May.
Sutton Coldfield Bridging Loan (BPF621)
The sale of the property is moving forward.
M***** H*** Development Loan (BPF407, 501, 526, 553, 584, 600, 679, 697 & 705)
Of the four restaurant units, the leases have been agreed with three restaurants and the fourth is just waiting for planning approval for their plans. They have received agreement in principle and full consent is expected by the end of the month, allowing fit-out to commence in June and the restaurant to open in October. The retailer in the basement is still on track to open in July, and the planning consent on the adjacent site is still expected by 7 June.
W***n Hotel Development (BPF528, 571, 587, 622, 631, 693, 703 & 710)
Work is still progressing and the hotel is on track to open in July, if not June. We have met with the borrower and refinancing bank, and continue to work with them on the refinance of our loan.
Lut** Bridging Loan (BPF698)
The planning application has been resubmitted and the borrower is waiting to hear back.
Residential development in Birk**** (BPF536, 537, 541, 542, 566, 567, 588 & 589)
Progress is still being made although it remains slower than expected.
Solihull Residential Development (BPF629)
The borrower has received an offer to purchase the property off-plan, and is considering whether to accept this. They are waiting to decide on this before making a further drawdown request.
Pershore Residential Refurbishment (BPF632)
Works are progressing. A drawdown is expected towards the end of May.
Lancashire Residential Park (BPF 706)
Drew down late April.
