Post by bengilbert on Jun 16, 2017 16:01:24 GMT
B******l Road, Sandbanks (BPF702)
The borrowers continue to await the planning decision including the adjacent site. The planning department are still waiting for confirmation of the final Affordable Housing contribution figure. They have had a draft back, but are still checking the calculations. They have said they expect it to be done by the end of the month at the latest.
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 & 711)
Leases have now been agreed with all four restaurants, with the fourth now having received planning consent for their plans. The retailer in the basement is still on track to open in July. Planning consent on the adjacent site was received, leading to an increase in the value of the site. We have instructed an updated valuation which will be posted once received.
W***n Hotel Development (BPF528, 571, 587, 622, 631, 693, 703, 710 & 720)
Work is now almost complete. The hotel is due to open in August. We continue to be in contact with the bank which is looking to refinance our loan, which is expecting to receive a report on the property next week.
Lut** Bridging Loan (BPF721)
We are still waiting on a decision from the planning department, who have said that they want a positive outcome but are continuing to discuss details with the borrower. In the meantime, we have commissioned an updated valuation which places the value of the property as is at £1,200,000 (up from £975,000 at the time of the initial loan).
Residential development in Birk**** (BPF536, 537, 541, 542, 566, 567, 588 & 589)
We are waiting on updates, which will be posted to the loan details when available.
Solihull Residential Development (BPF629)
The borrower is away but back on the 20th of June, when we will be able to get an update.
Pershore Residential Refurbishment (BPF632)
Works are progressing.
Lancashire Residential Park (BPF 706)
No update - we are visiting the site next week.
The borrowers continue to await the planning decision including the adjacent site. The planning department are still waiting for confirmation of the final Affordable Housing contribution figure. They have had a draft back, but are still checking the calculations. They have said they expect it to be done by the end of the month at the latest.
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 & 711)
Leases have now been agreed with all four restaurants, with the fourth now having received planning consent for their plans. The retailer in the basement is still on track to open in July. Planning consent on the adjacent site was received, leading to an increase in the value of the site. We have instructed an updated valuation which will be posted once received.
W***n Hotel Development (BPF528, 571, 587, 622, 631, 693, 703, 710 & 720)
Work is now almost complete. The hotel is due to open in August. We continue to be in contact with the bank which is looking to refinance our loan, which is expecting to receive a report on the property next week.
Lut** Bridging Loan (BPF721)
We are still waiting on a decision from the planning department, who have said that they want a positive outcome but are continuing to discuss details with the borrower. In the meantime, we have commissioned an updated valuation which places the value of the property as is at £1,200,000 (up from £975,000 at the time of the initial loan).
Residential development in Birk**** (BPF536, 537, 541, 542, 566, 567, 588 & 589)
We are waiting on updates, which will be posted to the loan details when available.
Solihull Residential Development (BPF629)
The borrower is away but back on the 20th of June, when we will be able to get an update.
Pershore Residential Refurbishment (BPF632)
Works are progressing.
Lancashire Residential Park (BPF 706)
No update - we are visiting the site next week.
