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Post by mrclondon on Aug 31, 2018 22:06:41 GMT
FS update 6/6/18 ".... however the properties are now complete" Photos take today at 2pm (31st Aug) Externally complete, both 3 beds, the left hand one is in the original building, the right hand one is in the righthand part of the original building plus a large new build extension to the rear. Not completely finished internally though, kitchen in the lefthand one looks slightly unfinished and there seemed to have been painting taking place. But the build quality looks very high from what I could see.
What was intended to have been a double garage, is now to be developed into a one bed property and will be adjacent to the new build extension at the rear. They face a busy road with signficant HGV usage, and have minimal gardens (and now no garage). I understand that an option is to split the righthand property into two smaller cheaper properties.   
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james21
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Post by james21 on Sept 18, 2018 6:50:03 GMT
2 completed properties being marketed for £354k, loan amount £325k. Looks like a marginal one by the time offers are accepted on the properties and interest paid on the loan
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empirica
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Post by empirica on Sept 18, 2018 8:11:02 GMT
2 completed properties being marketed for £354k, loan amount £325k. Looks like a marginal one by the time offers are accepted on the properties and interest paid on the loan Not sure you have your info aligned there james21 See mrclondon s' post on the subject here. Looks like there's a 3rd property for sale (the one currently being marketed at £130k?).
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arby
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Post by arby on Sept 18, 2018 8:18:08 GMT
This is a bit of a joke. The asset/loan page says there are two properties and provides a sale link to the first one. It says the second property will be marketed shortly at £260k. We then check rightmove and we see the first property as expected, plus a second property at £130k. The OP makes the obvious assumption that this is the second property as promised, but for a massively reduced price.
If two properties are suddenly three, then these updates should be provided by FS. Credit to the good work provided in the DD forum, but these are the basic types of updates that should be provided.
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empirica
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Post by empirica on Sept 18, 2018 9:20:13 GMT
Can't disagree with that. There's potentially £550k - £600k of property in the development, which I'm sure those trying to sell on the SM (currently c. £13k) would appreciate clarity on.
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Post by mrclondon on Nov 13, 2019 14:30:45 GMT
Loan defaulted on the website.
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Post by multiaccountmanager on Sept 9, 2020 1:23:22 GMT
Loan finalised today.
60% repaid Dec 2019
27% repaid today.
Total of 87% capital returned to lenders.
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