littleoldlady
Member of DD Central
Running down all platforms due to age
Posts: 2,934
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Post by littleoldlady on Sept 6, 2022 18:38:40 GMT
Update on the site: "May 2022 Further to the previous update, Route Finance remain in the advanced stages with a party who wishes to acquire the loan. The legal process and due diligence are continuing." And nearly 4 months later and no further word.
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averageguy
Member of DD Central
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Post by averageguy on Sept 13, 2022 18:16:18 GMT
Update on the site: "May 2022 Further to the previous update, Route Finance remain in the advanced stages with a party who wishes to acquire the loan. The legal process and due diligence are continuing." And nearly 4 months later and no further word. Par for the course
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gustapher
Member of DD Central
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Likes: 267
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Post by gustapher on Nov 28, 2022 20:45:22 GMT
Update on the site - not sure if I can post it here so I'll give the gist:
- Loan extended out 3 months to Feb 23.
- Buyer of the loan still keen but cost of borrowing as soared since negotiations started (plausible).
- Buyer wants to pay in instalments
- Route Finance/Property Crowd negotiating this so that 1st charge does not get handed over until payment of final instalment.
Assuming that gets agreed, the key will be timelines and what price the loan notes are sold for. Given I'd written off this investment in my head, I'm pretty pleased with this update. That said, I shall reserve judgement until end Feb.
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gustapher
Member of DD Central
Posts: 144
Likes: 267
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Post by gustapher on Feb 28, 2023 17:32:10 GMT
Well, it's the last day of Feb. Rather predictably, nothing has happened.
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Steerpike
Member of DD Central
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Post by Steerpike on Feb 28, 2023 18:20:49 GMT
As was noted in Scottish Construction Now just over 2 years ago:
Planning permission in principle for the land was first granted to another firm, George Wimpey East Scotland, back in 2007 and, back then, the plans included houses and a business park. The time limit has now been extended three times since then and a previous council report said consideration had to be given “as to whether the site will ever be developed”.
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