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Post by mrclondon on Dec 22, 2013 22:19:42 GMT
I'm wavering a bit on this one. The basic proposition looks sound enough, but I'm uneasy about the late appointment of the CDM Coordinator (a vital role in ensuring the safe operation of a construction site); but this may be because I have a full print out of the CDM regulations on my desk which I refer to from time to time. Page 103 and subsequent pages of the "Final monitoring surveyors report" confirm the appointment as of 3rd December. It is concerning that neither the builder nor the two professional advisers he has contracted for this development had spotted this omission. Is this the only shortcut that has been taken ?
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Post by mrclondon on Dec 22, 2013 22:32:33 GMT
Page 60 of the "Final monitoring surveyors report" contains an elevation drawing which gives a good feel for what is being built.
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Post by batchoy on Dec 22, 2013 22:43:26 GMT
I too have one or two misgivings on this one.
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Post by mrclondon on Dec 22, 2013 22:52:53 GMT
Final observation for today - Page 72 of the "Final monitoring surveyors report" shows the construction programme with an anticipated completion date of May 2014. Given the relatively high interest rate on this one, there must be a fairly high chance of re-financing taking place soon after completion.
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Post by batchoy on Dec 23, 2013 9:58:05 GMT
Final observation for today - Page 72 of the "Final monitoring surveyors report" shows the construction programme with an anticipated completion date of May 2014. Given the relatively high interest rate on this one, there must be a fairly high chance of re-financing taking place soon after completion. Reading through the documentation I get the feeling that the intention is and always has been for the properties to be transferred to care home business started by one of the directors.
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Post by oldnick on Dec 23, 2013 16:00:45 GMT
So many unanswered questions, so little time remaining...
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andy2001
Member of DD Central
Posts: 361 
Likes: 34
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Post by andy2001 on Dec 23, 2013 16:03:16 GMT
I was going to bid, but was a bit slow.
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Post by mrclondon on Dec 23, 2013 16:03:21 GMT
Gone in less than a minute !
Just as well I'd decided I was going to skip this one.
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mikes1531
Member of DD Central
Posts: 6,453
Likes: 2,320
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Post by mikes1531 on Dec 23, 2013 16:05:29 GMT
Gone in less than a minute ! Rather ridiculous, if you ask me!
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oldgrumpy
Member of DD Central
Posts: 5,087
Likes: 3,233
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Post by oldgrumpy on Dec 23, 2013 16:06:16 GMT
Pah!!  I'm not quite sure whether being a few seconds too slow matters. Obviously some quick and big hitters are not concerned about the "status quo" on permissions and building compliance uncertainties on this one. |
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agent69
Member of DD Central
Posts: 6,034
Likes: 4,433
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Post by agent69 on Dec 23, 2013 16:08:56 GMT
Made a point of getting home in time for this one. Put the kettle on and the next thing you know it's all gone. Complete fiasco.
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Post by jackpease on Dec 23, 2013 16:09:58 GMT
If a loan of that size can go that quick, this has once again got to raise the merits of some sort of throttling to make sure ordinary investors can take part (and i'll repeat that if a loan goes this quick the interest is probably too high!)
jack
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Post by bracknellboy on Dec 23, 2013 16:14:01 GMT
Auction ? What auction ? I see no auction. Oh that one. Damn. Teach me to be distracted.
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Post by bracknellboy on Dec 23, 2013 16:15:35 GMT
Gone in less than a minute ! Just as well I'd decided I was going to skip this one. If someone who keeps a full print out of the CDM regulations on their desk feels inclined to skip it, then perhaps its a good thing that I was blinking at the time it started.
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Post by granps on Dec 23, 2013 16:16:25 GMT
Very strange. Two pre-bids at 09.28 for 155K and 156K rejected then the very first bid(!) at 16.00 for 155k again. How does this work, and how can smaller investors stand a chance ?
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