Post by MoneyThing on Jul 11, 2017 18:05:15 GMT
Evening,
Please find below updates to BPF related loans. MT loan updates will start to happen later this week.
Kind regards,
Ed
B******l Road, Sandbanks (BPF751)
Work on writing up the planning consent is expected to begin this week.
Sutton Coldfield Bridging Loan (BPF621)
Repaid in full.
M**** H** Development Loan (BPF407, 501, 526, 553, 584, 600, 679, 697, 705 & 711)
Work proceeds on the main hall with the borrower reporting good progress. We are awaiting an updated valuation, due within the next week, which is expected to show an increase in value taking into account the lease terms which have been agreed. The borrower is negotiating terms for the sale of the development site, which received planning consent last month.
W***n Hotel Development (BPF528, 571, 587, 622, 631, 693, 703, 710 & 720)
Work is still on target to be completed this month. A valuation for one bank with an interest in refinancing the loan has been carried out and the borrower is awaiting an offer from them. They have a meeting next week with another bank which may also be interested in refinancing.
Lut** Bridging Loan (BPF721)
Planning consent is expected to be submitted for sign off this month.
Residential development in Birk**** (BPF536, 537, 541, 542, 566, 567, 588 & 589)
We have been requested that we don’t post updates at this time as the situation is commercially sensitive. However, BPF and MT are receiving updates on the progress of the situation. As soon as we are able to update lenders, we will do so.
Solihull Residential Development (BPF629)
The borrower is considering selling the property to an interested party and is awaiting a formal offer from them.
Pershore Residential Refurbishment (BPF632)
Repaid in full.
Lancashire Residential Park (BPF 706)
the borrower reports that the site is progressing well.
Please find below updates to BPF related loans. MT loan updates will start to happen later this week.
Kind regards,
Ed
B******l Road, Sandbanks (BPF751)
Work on writing up the planning consent is expected to begin this week.
Sutton Coldfield Bridging Loan (BPF621)
Repaid in full.
M**** H** Development Loan (BPF407, 501, 526, 553, 584, 600, 679, 697, 705 & 711)
Work proceeds on the main hall with the borrower reporting good progress. We are awaiting an updated valuation, due within the next week, which is expected to show an increase in value taking into account the lease terms which have been agreed. The borrower is negotiating terms for the sale of the development site, which received planning consent last month.
W***n Hotel Development (BPF528, 571, 587, 622, 631, 693, 703, 710 & 720)
Work is still on target to be completed this month. A valuation for one bank with an interest in refinancing the loan has been carried out and the borrower is awaiting an offer from them. They have a meeting next week with another bank which may also be interested in refinancing.
Lut** Bridging Loan (BPF721)
Planning consent is expected to be submitted for sign off this month.
Residential development in Birk**** (BPF536, 537, 541, 542, 566, 567, 588 & 589)
We have been requested that we don’t post updates at this time as the situation is commercially sensitive. However, BPF and MT are receiving updates on the progress of the situation. As soon as we are able to update lenders, we will do so.
Solihull Residential Development (BPF629)
The borrower is considering selling the property to an interested party and is awaiting a formal offer from them.
Pershore Residential Refurbishment (BPF632)
Repaid in full.
Lancashire Residential Park (BPF 706)
the borrower reports that the site is progressing well.
