Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
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Post by Godanubis on May 8, 2019 14:33:22 GMT
The development value looks pretty wild to me - I live in a 19th c. 4 bed terrace in Plymouth with 2 bathrooms and 2 reception rooms which we paid £250k for last year. GDV of this suggests they can get c. £300k per property - which must mean they think they can offload the 4 bed ones at what, £400k?? Doubt that will happen in Plymouth unless they're ridiculously high spec, but it doesn't even look like they have garages... It's also right out in the sticks, about 4.5 miles from town centre. If you look on rightmove everything going for £350k+ is either enormous, has a garage, a big garden or some land: www.rightmove.co.uk/property-for-sale/find.html?locationIdentifier=REGION%5E1073&maxPrice=400000&minPrice=300000&index=48I presume the tree removal makes the extra houses being built a contributer to the GDV where they may have more for sale at what you suggest is a reasonable sum or even a few supe spec enormous homes that when added to existing planned houses make the current GDV attainable or surpassed.
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TheDriver
Member of DD Central
Slightly bonkers
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Post by TheDriver on May 29, 2019 4:59:33 GMT
The development value looks pretty wild to me - I live in a 19th c. 4 bed terrace in Plymouth with 2 bathrooms and 2 reception rooms which we paid £250k for last year. GDV of this suggests they can get c. £300k per property - which must mean they think they can offload the 4 bed ones at what, £400k?? Doubt that will happen in Plymouth unless they're ridiculously high spec, but it doesn't even look like they have garages...
It's also right out in the sticks, about 4.5 miles from town centre.
If you look on rightmove everything going for £350k+ is either enormous, has a garage, a big garden or some land: www.rightmove.co.uk/property-for-sale/find.html?locationIdentifier=REGION%5E1073&maxPrice=400000&minPrice=300000&index=48I have similar reservations about this one, which is why I got out at the ReFi. Currently nothing happening and the grounds seem to be being used for unofficial hospital parking! However, it is within the Plymouth boundary (admittedly close to the south Hams) as part of continuous urbanisation through Crownhill and Derriford with Woolwell beyond, so you must be a real townie to say that! For the record I live at the west end of Saltash overlooking fields and forests (well woods, but I like alliteration!) so about the same distance from the City Centre, and I feel very suburban!
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coop
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Post by coop on Jun 4, 2019 15:11:54 GMT
The development value looks pretty wild to me - I live in a 19th c. 4 bed terrace in Plymouth with 2 bathrooms and 2 reception rooms which we paid £250k for last year. GDV of this suggests they can get c. £300k per property - which must mean they think they can offload the 4 bed ones at what, £400k?? Doubt that will happen in Plymouth unless they're ridiculously high spec, but it doesn't even look like they have garages...
It's also right out in the sticks, about 4.5 miles from town centre.
If you look on rightmove everything going for £350k+ is either enormous, has a garage, a big garden or some land: www.rightmove.co.uk/property-for-sale/find.html?locationIdentifier=REGION%5E1073&maxPrice=400000&minPrice=300000&index=48I have similar reservations about this one, which is why I got out at the ReFi. Currently nothing happening and the grounds seem to be being used for unofficial hospital parking! However, it is within the Plymouth boundary (admittedly close to the south Hams) as part of continuous urbanisation through Crownhill and Derriford with Woolwell beyond, so you must be a real townie to say that! For the record I live at the west end of Saltash overlooking fields and forests (well woods, but I like alliteration!) so about the same distance from the City Centre, and I feel very suburban! Haha I'm in Stoke myself so pretty close! Perhaps I'm totally wrong but I just don't see such areas as particularly desirable - I have a young family and it seems to me it would be a total pita to live there - not much shops, have to drive everywhere etc. I would definitely take Saltash over Derriford/Crownhill!
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Post by multiaccountmanager on Jul 18, 2019 16:52:33 GMT
May 7 2019 "This loan will not be renewed but the Borrower has advised that he has received verbal Permission from the Local Authority to fell trees which will allow for more homes to be builit. In the meantime he is still waiting for the Planning Permission to be approved, which should be in the next 2-3 months. Once approval is gained refinance will be sought. The time estimated for this is 6-7 months." This appears confusing to me. The Plymouth planning site shows approval for demolition of the hotel and for building 11 houses. Dated January 2017So does this update mean that the tree felling planning permission is awaited? In which case, why is there no mention of this on the Plymouth planning site? Merely a Feb 2019 approved pre-planning application for tree crown reduction, which is NOT felling and it does not appear too obvious that this will allow more houses to be built. So it looks like a red herring. Nor is there any mention of a revised application for extra houses on the Plymouth planning site.. It surely won't be getting approval if no application is submitted........ ?? If anyone is invested in the First charge loan on Crowd Property, perhaps they could enquire as to progress. link to Crowd Property project, but you need account and password |
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rocky1
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Post by rocky1 on Jul 19, 2019 3:54:26 GMT
not in this loan and cannot see any updates. Phase 1 of 3 total loan £2million 18 month term.CP first charge.
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coop
Member of DD Central
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Post by coop on Aug 20, 2019 14:24:04 GMT
Have driven past twice recently: The hotel hasn't been demolished. I guess maybe some trees have been felled but it still looks like there's plenty of foliage surroudning the property There is a big pile of  (mostly wooden stuff by the looks) to the side of the hotel - so I guess they have been clearing out something at least? The bushes at the front of the property which are very overgrown in the Sept 2018 dated street view images on google look like they have been cut back. But yeah, long story short not a lot happening here. First charge has lent £2m on this with a "current value" of 950k and a supposed GDV of £3.255m - sorry to say it looks to me like this 2nd charge will be completely wiped out in all but the rosiest of outcomes - as I mentioned earlier in the thread I don't have much confidence that the finished units would reach a GDV that high anyway. Personally I'm a bit baffled why the first charge holder has lent £2m - which they had supposedly done already when this loan was offered a year ago so incredibly slow progress considering the interest charges stacking up... |
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Post by mrclondon on Nov 12, 2019 17:22:49 GMT
Loan has been defaulted on the website.
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(mostly wooden stuff by the looks) to the side of the hotel - so I guess they have been clearing out something at least?
