criston
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Post by criston on Feb 26, 2021 12:52:32 GMT
Substantially more attractive than the 70% LTV appears, as since launch, the Hotel has upgraded with a £900k spend.
Appears to have survived lockdowns OK, with help from government, with payments up to date; albeit with a recent forbearance request, could be a reasonable punt with current selling at 4.5% discount.
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rscal
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Post by rscal on Feb 26, 2021 15:29:05 GMT
(Thanks, I already have LOTS!)
..but it is being bought heavily now [at last]
£31k is left , down from £37k yesterday
18.30 now '£29k'
18.50 now '£27.7k'
19.50 £Nil @ 4.5pc
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Post by honda2ner on Feb 26, 2021 21:36:50 GMT
Got a lot of this one already, same borrower has performed well in the past. Quietly waiting for this to hit par so not discounting a penny. Don't understand why there was/are such massive discounts when as criston has said already, the payment schedule is so sweet.
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criston
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Post by criston on Feb 27, 2021 9:04:29 GMT
(Thanks, I already have LOTS!)
..but it is being bought heavily now [at last]
£31k is left , down from £37k yesterday
18.30 now '£29k'
18.50 now '£27.7k'
19.50 £Nil @ 4.5pc
£34k was left at 4.5% discount when I opened this thread at 13.00, after noticing it quickly drop from £45k (where it had been languishing for 11 months). The current £9k at 3% discount was not there before, so could have been a seller moving the goal posts.
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criston
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Post by criston on Feb 28, 2021 17:41:18 GMT
Get the feeling the original sellers saw the demand & withdrew their sale, only to resell at a lower discount.
The £9k at 3.0% discount has gone.
£17.5k at 2.5% discount has now appeared.
Is anyone able to tell if 'Access' funds are soaking them up ?
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rscal
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Post by rscal on Mar 10, 2021 9:02:29 GMT
Today's big AA distribution no doubt led to some buying at the currently 'best' discount of 2.5% (which dropped 6k between earlier this morning and now) I suspect more sellers will dip in later too noticing that.
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cnb
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Post by cnb on Mar 10, 2021 10:15:51 GMT
I bought quite a few of these at a 5% discount a couple of months ago, thought I'd sell a few after the distribution, 2.5% + Interest not a bad return for a couple of months.  |
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Mar 10, 2021 11:24:28 GMT
Presumably the sellers read more into the potential cause for concern within the wider group that led to forbearance being rejected than the buyers. Late accounts & apparent concerns about those, concerns around its loan notes. Fingers in many pies. That said a recent restructuring has moved the hotels out of the main group.
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cnb
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Post by cnb on Mar 10, 2021 12:14:31 GMT
This time last year, I remember these and many others were listed at discounts of 10% or more, best discount I managed to get was 25%, a Kebab Shop, even though as a takeaway it was able to remain open throughout.
It's selling at par now, but sold before it got there.
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