GeorgeT
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Post by GeorgeT on Aug 29, 2017 20:11:08 GMT
PBL - *** *** ****, **** Lane, Castor, Peterborough
Security Value: £1,750,000
Loan Value: £1,225,000
Loan to value: 70%
Remaining Time: 183 days
Annual Rate: 12%
(Added to Pipeline on 29/8/17)
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GeorgeT
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Post by GeorgeT on Aug 29, 2017 20:16:40 GMT
For completeness, here are the comments so far from the Pipeline Loans thread:
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GeorgeT
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Likes: 1,575
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Post by GeorgeT on Aug 29, 2017 22:40:56 GMT
Some excellent DD there,C_D.
Owing to other commitments I haven't yet had a chance to run my slide rule over this one and I don't have your local knowledge in the first place. In fact I haven't even yet read the valuation report.
However my initial thought was to invest in this loan and therefore I set a modest pre fund figure to ensure I didn't miss out as I am going to be quite preoccupied over the next couple of days. I may have time to spend some time on this one tomorrow evening and if I do I will post up my conclusions then.
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Post by GSV3MIaC on Aug 30, 2017 7:35:09 GMT
/mod hat off cooling_dude .. if you know it well, what is YOUR assessment of the current/future flood risk? This particular class of buildings always raises that Q in my mind. I also wonder where the end of this bridge will be, unless prices leap up faster than interest accrues .. |
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p2p2p
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Post by p2p2p on Aug 30, 2017 10:24:48 GMT
"small offshoot that rejoins the main river near to the property via a series of the small waterfall"
Otherwise known as the leat leading to the mill...
I didn't like the muddle with one part of the business leasing the property for informal commercial use to another part of the business, and the money being used to support that business. There is talk of a two-company guarantee, but the LL description flicks between company/companies/trading arms too glibly for me.
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dermot
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Post by dermot on Aug 30, 2017 10:47:16 GMT
Even given that the property needs tarting up a bit, I'd probably go in for a small investment except for the financial history.
On the other hand, if they put in one of the low-drop water turbines in the old millrace, they'd be assured of 'free' power for ever....
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jfm
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Post by jfm on Sept 4, 2017 10:04:59 GMT
The current rent (£48k) paid by related company is more than double the valuer's market estimate. Reminds me of tenanted office block Somerset...
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Post by shyinvestor on Sept 6, 2017 12:26:46 GMT
The valuation points quite clearly to a figure of £1,5000,000 "for loan security purposes". Why is the figure of £1,750,000 quoted by Lendy? How can this be justified?
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Post by GSV3MIaC on Sept 15, 2017 16:33:05 GMT
Washed away by storm Abigail?
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