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Post by overthehill on May 9, 2020 15:59:18 GMT
I'm a £6 a bottle wine guy so this is not a recommendation but ...
23 acres planted
Between 2 and 10 tonnes of grapes per acre.
1 tonne of grapes produces about 720 bottles.
23 acres x 4 tonnes x 720 bottles x £6 = ~400k of revenue. I've literally no idea what the profit margin is for vineyards but let's say 25%, that is 100k per year. Three of those operands are possibly very conservative!
We also know what price was paid for the security very recently but then again it sits under UK weather all year. Trench A for me!
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Post by uksoul on May 9, 2020 21:25:33 GMT
I'm a £6 a bottle wine guy so this is not a recommendation but ...
23 acres planted
Between 2 and 10 tonnes of grapes per acre.
1 tonne of grapes produces about 720 bottles.
23 acres x 4 tonnes x 720 bottles x £6 = ~400k of revenue. I've literally no idea what the profit margin is for vineyards but let's say 25%, that is 100k per year. Three of those operands are possibly very conservative!
We also know what price was paid for the security very recently but then again it sits under UK weather all year. Trench A for me!
I checked their online store, cheapest bottle is a Rose £29 several other wines priced at £39 most expensive is a Magnum Noir £95. They have won an extensive number of awards inc in 2020. They have a range of wine related businesses and have been very successful since 2004. As the vineyard is a new venture and only a 12 month loan i assume they can also repay the loan via income from their other businesses. 15 months interest paid upfront + a low LTV will see me take a slice of Tranche B.
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eeyore
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Post by eeyore on May 10, 2020 9:38:27 GMT
If this project is so likely to succeed, then why has it not been financed by a high-street bank? And, with a low LTV, why has Proplend fixed it at such a relatively high rate of interest?
Or could it be that in the current environment, Proplend feels that a high rate of return is necessary to attract lenders?
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Post by uksoul on May 10, 2020 10:53:09 GMT
If this project is so likely to succeed, then why has it not been financed by a high-street bank? And, with a low LTV, why has Proplend fixed it at such a relatively high rate of interest? Or could it be that in the current environment, Proplend feels that a high rate of return is necessary to attract lenders? High St Banks are no longer the first choice for many businesses or property buyers. Many successful businesses choose platforms such as Proplend for speed, flexibility, less bureaucracy etc . Difficult to know why they chose Proplend instead of a high street bank unless something is detailed in the loan summary which is not yet uploaded. Loans are not being snapped up so quickly now so yes interest rates have to be attractive to lenders. There are still month old PLE loans @ 10+%...that'd be unlikely pre CV19.
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sapphire
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Post by sapphire on May 12, 2020 11:28:19 GMT
There was Nil available in Tranche A when the loan opened up for manual lending at noon, so the entire amount was taken up by Autolend. (Tranche B showed £27K available just when it opened up at Noon and this was snapped up very quickly!).
For info, is anyone able to indicate what is the max amount allocated in Tranche A via Autolend?
(Due to a funds transfer delay, my top up payment did not reach in time for Autolend and so I received an allocation of £1K for the existing cash balance I had.)
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Post by uksoul on May 12, 2020 11:43:48 GMT
There was Nil available in Tranche A when the loan opened up for manual lending at noon, so the entire amount was taken up by Autolend. (Tranche B showed £27K available just when it opened up at Noon and this was snapped up very quickly!). For info, is anyone able to indicate what is the max amount allocated in Tranche A via Autolend? (Due to a funds transfer delay, my top up payment did not reach in time for Autolend and so I received an allocation of £1K for the existing cash balance I had.) Max is 20% of account value via Autolend. Yes this snapped up very fast. I missed out on my target of Tranche B despite being ready 5 mins before opening. The site was freezing and despute showing availability kept saying not available when clicking confirm.
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sapphire
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Post by sapphire on May 12, 2020 11:55:39 GMT
There was Nil available in Tranche A when the loan opened up for manual lending at noon, so the entire amount was taken up by Autolend. (Tranche B showed £27K available just when it opened up at Noon and this was snapped up very quickly!). For info, is anyone able to indicate what is the max amount allocated in Tranche A via Autolend? (Due to a funds transfer delay, my top up payment did not reach in time for Autolend and so I received an allocation of £1K for the existing cash balance I had.) Max is 20% of account value via Autolend. Yes this snapped up very fast. I missed out on my target of Tranche B despite being ready 5 mins before opening. The site was freezing and despute showing availability kept saying not available when clicking confirm. Yes, as has happened often in the past, the website did again freeze up for a few seconds at the stroke of noon today. Once I had a response, initially no loans were displayed and after a refresh this vineyard loan (and the earlier one waiting to be drawn down) showed up. Whilst the max is 20% of account value via Autolend, this of course is not certain when demand is high. So interested to know what the actual Autolend max allocation was here. A bit surprised PL did not set 24 hour tranche limits for what can reasonably be expected to be a loan in demand!
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Post by uksoul on May 12, 2020 12:13:51 GMT
Max is 20% of account value via Autolend. Yes this snapped up very fast. I missed out on my target of Tranche B despite being ready 5 mins before opening. The site was freezing and despute showing availability kept saying not available when clicking confirm. Yes, as has happened often in the past, the website did again freeze up for a few seconds at the stroke of noon today. Once I had a response, initially no loans were displayed and after a refresh this vineyard loan (and the earlier one waiting to be drawn down) showed up. Whilst the max is 20% of account value via Autolend, this of course is not certain when demand is high. So interested to know what the actual Autolend max allocation was here. A bit surprised PL did not set 24 hour tranche limits for what can reasonably be expected to be a loan in demand! Yes i was expecting a 1k limit for Tranche B for this loan. I think they allocate proportionally when demand is high to ensure as many investors as possible get a slice of the pie.
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Post by overthehill on May 12, 2020 14:02:06 GMT
20% maximum in autolend is just one of the options. You can set your maximum investment to 100k per loan if you want. If there are no Tranche A limits and the loan is big enough you could get 100k, AFAIK.
I don't know what the solution is but proplend have never quite got this combination of autolend and manual lending right. They normally set a limit on one or all tranches for 24 hours. If they had done that here then autolend could have allocated say 1k to every subscriber and left the rest for manual lending.
If they want to grow the investor base they need to make sure newer members are not put off by unfair allocations.
I got 2k here but I've missed out completely in the past with autolend albeit with small loans, it certainly has no memory of who missed out on the previous loan!
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Post by uksoul on May 12, 2020 14:57:10 GMT
Yes things need to improve on the loan allocation and the site freezing.
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rs
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Post by rs on May 12, 2020 17:15:23 GMT
I only got £2k of tranche A on autolend. I did want £3k of tranche A on autolend. I got £2k of tranche B luckily.
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bababill
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Post by bababill on May 13, 2020 23:40:15 GMT
Happened by chance to read this completely unrelated article yesterday in the NYT.
Thought was interesting..
"Mr. McMillan said he thought that in the short term, the coronavirus pandemic might benefit the premium wine industry, with data showing locked-down consumers “willing to spend up,” perhaps as they try to recreate the restaurant experience at home. But the larger picture is not encouraging. When national crises come, so does a sense that we are all going to be more serious, more responsible, and stop buying expensive bottles of cabernet. After Sept. 11, 2001, terrorist attacks and the 2008 financial crisis, the luxury wine market took painful hits. In such times, people don’t stop drinking; they just buy less of the expensive stuff."
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Nomad
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Post by Nomad on May 14, 2020 11:02:10 GMT
I only got £2k of tranche A on autolend. I did want £3k of tranche A on autolend. I got £2k of tranche B luckily. Those who fancy investing in wine (and helping the environment) may find this of interest - thesunexchange.com/project/boland-cellar
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tony9239
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Post by tony9239 on May 14, 2020 14:59:56 GMT
Yes things need to improve on the loan allocation and the site freezing. You can say that again. I was straight on at noon and it showed tranch A all gone and about half of tranch B gone too. Placed my order immediately (£2k tranch B) but all i got was that very annoying circle pulsar thingy and then screen saying "unable to place order." There should really have been a limit on both tranches. This has happened to me a number of times on the more attractive loans. All PL say is try again next time. Not very satisfactory. 
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Post by uksoul on May 14, 2020 21:38:20 GMT
Yes things need to improve on the loan allocation and the site freezing. You can say that again. I was straight on at noon and it showed tranch A all gone and about half of tranch B gone too. Placed my order immediately (£2k tranch B) but all i got was that very annoying circle pulsar thingy and then screen saying "unable to place order." There should really have been a limit on both tranches. This has happened to me a number of times on the more attractive loans. All PL say is try again next time. Not very satisfactory. Exacty same problem i had. Went for 2k on T B got that 'UTPO' message then tried again at 1k and still got the same message. While it is is freezing you know the tranches are being taken..very frustrating. Maybe they were expecting a slow take up cos of other new loans filling slower than norm recently so placed it without limits ??
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