rogerthat
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Post by rogerthat on Dec 18, 2017 12:24:06 GMT
Well it seems the 'high net worth' lenders borrowers are intending to liquidate (I hate that word) various personal assets to go towards the venture, which I suppose is a sign of intent and reading the executive summary they are long established in the locality and have, it seems, a good reputation. It never fails to amaze me how the continued proliferation of garden centres continues unabated, despite what must be a highly competitive market. Clearly, this is not a venture they are unfamiliar with so one must presume they (if anybody) have the experience to see it through. Being less than a mile from Oswestry town centre though, I wonder whether the local traders are as delighted. The range of non 'garden' goods that are able to be traded, will surely suck sustenance out of the mouths of those who struggle most. The out of town shopping centre malaise all over again.
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elliotn
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Post by elliotn on Dec 18, 2017 13:47:41 GMT
Blimey, you're one Sleuth, Dude! rogerthat!
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mikes1531
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Post by mikes1531 on Dec 18, 2017 14:53:49 GMT
Well it seems the 'high net worth' lenders are intending to... rogerthat: Did you mean "borrowers"?
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SteveT
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Post by SteveT on Dec 18, 2017 16:02:57 GMT
1. One of the reasons that the planning failed was because of objections from The Highways, who did their level best to block the development because of safety concerns around the exit. Unfortunately, the The Highways also own a slice of land that would affect the access to the land from M******* Road (click the following for larger image)... Not sure how being "The Highways" may effect the situation (maybe there are obligations they have that others don't\/) but please can you please seek explanation and reassurance that this won't be an issue - I note that it won't effect the W***** Road access, but not sure how the PP has addressed this (i.e. what happans to the existing junction on W***** Road, and if there are conditions for the access points) As regards the connection to the public highway, most new developments next to public roads need to complete a S278 agreement with the local Highways authority that specifies the detailed design and future maintenance of the roadway, pavements, drains, lighting, signals, etc., including how much the developer must pay for the design approvals process, the works inspections and the maintenance bond (usually many tens of £thousands!). It is very normal that the connection has to cross Highways-owned land, usually a pavement and/or verge. AFAIK, once planning consent has been granted, Highways have no rights to block the creation of the agreed access / connection to the public highway, but they can (and do) drag their heels over the design approvals process... With a scheme like this, the new road alignment will inevitably have to be built to adoptable standards and then formally adopted by Highways under a S38 agreement, becoming part of the public highway again.
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SteveT
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Post by SteveT on Dec 18, 2017 16:49:08 GMT
Still that strange blob of land that needs clarifying though Regarding the little corner copse that lies outside the red-line boundary, my guess is that some sort of "land swap" was agreed with the council, extending the staff car-parking slightly beyond the current boundary in return for giving up a strip of the site land for new alignment of W***** Road. However, I've not yet found anything in the application file that confirms this. [In fact it's a bit more than just the corner copse. The site plans show the old section of W***** Road being narrowed to a footpath and the rest of the old roadway also absorbed into the staff car-park.]
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agent69
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Post by agent69 on Dec 18, 2017 18:54:19 GMT
SteveT cooling_dude I think you may be barking up the wrong tree here. The adjacent A483 is described as the Swansea to Manchester trunk road. As such it will probably be the responsibility of Highways England (previously Highways Agency), who are the Government agency responsible for building and maintaining trunk roads and motorways. The junction with M******* Road is that most heinous of roadworks design, the staggered at grade junction. If you want to turn right you have to cross one lane of the dual carriageway and then wait in the central reservation area until there is a gap in the oncoming traffic. You also have to avoid traffic coming down the dual carriagway from the left that wants to turn right. If you look at the attached street view image you will see the problem. Both right turning vehicles have to give way to A483 traffic, but neither have priority over one another. Even in the darkest depths of stoneage Devon, we have spent the last 20 years replacing this type of kamikaze layout. The planning objection refereed to by CD above isn't from the section 278 / 38 agent (Shropshire County Council), it's from HE. I assume their concerns are that a significant amount of the additional traffic generated by the development will want to turn right onto A483, which isn't desirable from a health and safety point of view. They would be better off stopping up the central reserve crossing altogether, make traffic turn left and then do a U-turn at the roundabout on the A5 junction, just up the road.
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SteveT
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Post by SteveT on Dec 18, 2017 19:26:46 GMT
The planning objection refereed to by CD above isn't from the section 278 / 38 agent (Shropshire County Council), it's from HE. I assume their concerns are that a significant amount of the additional traffic generated by the development will want to turn right onto A483, which isn't desirable from a health and safety point of view. Acknowledged, but HE's objection was rejected on appeal by the inspector and full planning consent is now in place. The issue now is whether anything else might prevent the development going ahead.
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woodland
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Post by woodland on Dec 18, 2017 19:44:29 GMT
Thank you gents (any ladies?) - all the experience you collectively bring is invaluable. Am seriously impressed by cooling_dude's digging around I think it's one I'm going to plump for by the end of the evening unless I read / hear something that frightens me off. I'm guessing the borrowers are using FS as they need to complete a quick purchase - otherwise it sounds like they have other assets that they are selling to free up funds. Can't see any internet dirt on the family involved myself. Based upon a brownfield value of £482000 per hectare, the site alone could be valued at at £1.36 million, so the valuation looks fair. Am I wrong?
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woodland
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Post by woodland on Dec 18, 2017 20:05:43 GMT
Does anyone know if we get paid interest from the point of committing our funds, or from when the loan is fully funded? Is there any advantage in going in early rather than in a few days?
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kermie
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Post by kermie on Dec 18, 2017 20:18:46 GMT
Does anyone know if we get paid interest from the point of committing our funds, or from when the loan is fully funded? Is there any advantage in going in early rather than in a few days? FS loans are all interest-accruing from point-of-investment.
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Post by df on Dec 18, 2017 20:21:06 GMT
Does anyone know if we get paid interest from the point of committing our funds, or from when the loan is fully funded? Is there any advantage in going in early rather than in a few days? Yes, the interest acquires from the day you commit your funds.
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woodland
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Post by woodland on Dec 18, 2017 20:21:30 GMT
TY
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Post by brightspark on Dec 18, 2017 21:12:33 GMT
I don't think we're being harsh. At all. It's OUR money. The VR could easily have been posted at the same time, and 9 pm the night before an 11 am "Go live" seems to be the FS norm these days and does not garner Investor confidence. Whether or not it is a good offering was not the initial discussion, it's the timing of the information provided that was and is questioned. Is it to the benefit of anyone to create a negative climate around a listing? Might I suggest a more general post elsewhere on FS announcement timeliness might be more appropriate way to go? For investors it is security and return on capital. For borrowers there are enormous risks and responsibilities. Many other livelihoods are at stake. It is incumbent to be circumspect.
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Dec 18, 2017 21:17:56 GMT
It is also incumbent on The Platform to be fair & impartial and give their Lenders equal respect with their Borrowers. This is not happening, IMHO.
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rogerthat
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Post by rogerthat on Dec 19, 2017 1:50:02 GMT
It is also incumbent on The Platform to be fair & impartial and give their Lenders equal respect with their Borrowers. This is not happening, IMHO. Glad to see someone else has their and our priorities in the right order..Bravo .... Just got back from Peterlee...y aye (01.45)..im cream crackered but I'll never sleep unless I catch the drift on all this wonderful DD..My my..great posts (mostly) ..took a little nibble earlier yesterday (18th)
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