noh
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Post by noh on Dec 16, 2015 12:59:20 GMT
My apologies for the link to the website. My purpose in posting it was to try and answer the question of how the storage site achieves an income of £40k a month. Not an excuse but it was my first post to this board. I joined Saving Stream on Monday and the pipeline loan in question caught my interest as the site is local to me. Tracking down web sites, if I've found the right ones, they have 300 vehicles stored on site. That alone would generate a large proportion of the indicated income. Plus a number of storage containers at at least £100 month each.
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noh
Posts: 34
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Post by noh on Dec 16, 2015 12:43:48 GMT
With regard to the storage site, SS give a value of £7.3m. However a quoted housebuilding company has (or proposes to acquire) an option to purchase the site for £7m. How does that affect SS's ability to realise the security in the event of a default? I read it as the housebuilder has offered an option to purchase the site but the current owner has not accepted that offer.
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noh
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Post by noh on Dec 15, 2015 16:37:19 GMT
My apologies for the link to the website. My purpose in posting it was to try and answer the question of how the storage site achieves an income of £40k a month. Not an excuse but it was my first post to this board.
I joined Saving Stream on Monday and the pipeline loan in question caught my interest as the site is local to me.
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noh
Posts: 34
Likes: 15
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Post by noh on Dec 15, 2015 12:55:37 GMT
£5.5m or £7.3m, that is a vast difference. Either way without planning permission i don't get the valuation. Or how 480K of income (40K per month) can be got from a scruffy field. Here is their website and storage price list REDACTED
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