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Post by easilyparted on Aug 2, 2016 11:13:38 GMT
If its being sold should be going on the market soon.
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Post by harryvederci on Aug 2, 2016 12:19:11 GMT
its rather odd that the company paying the £160,000 rent doesnt even have a website.
due to history this may well be the lender of last resort so property needs to be sold to repay, 2/3 months is a very short time to find a £2.8m buyer
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boble
Posts: 150 
Likes: 65
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Post by boble on Aug 2, 2016 12:44:18 GMT
ARE YOU EXPOSED TO A LOSS IN THIS LOAN?
To assist you in assessing this i have set out a fictitious scenario below:
True/sales value achieved: £1,435,000 (50% of valuation)
If your exposure is proportionately more than 0.5% of the valuation, then you will incur a capital loss.
If your exposure is proportionately less than 0.5% of the valuation, then you won't incur a loss.
The critical number in this fictitious scenario is £14,350.
You may infinitely adjust the true/sales value achieved figure in accordance with you own assessment of value. I suggest that the figure I have used is worst case.
One could use such a calculation as a reason to invest in this loan.
Please note that this is not advice.
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Post by p2plender on Aug 2, 2016 12:44:54 GMT
We will not comment on the borrower's personality or background, neither of which are relevant to his capacity to repay our loan.
past performance is no guide to future performance..
Relax, ahem.
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Jeepers
Member of DD Central
Posts: 818
Likes: 721
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Post by Jeepers on Aug 2, 2016 12:56:09 GMT
ARE YOU EXPOSED TO A LOSS IN THIS LOAN? To assist you in assessing this i have set out a fictitious scenario below: True/sales value achieved: £1,435,000 (50% of valuation) If your exposure is proportionately more than 0.5% of the valuation, then you will incur a capital loss. If your exposure is proportionately less than 0.5% of the valuation, then you won't incur a loss. The critical number in this fictitious scenario is £14,350. You may infinitely adjust the true/sales value achieved figure in accordance with you own assessment of value. I suggest that the figure I have used is worst case. One could use such a calculation as a reason to invest in this loan. Please note that this is not advice. Where does the 0.5% come in?
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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
Posts: 11,333
Likes: 11,552
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Post by ilmoro on Aug 2, 2016 12:56:11 GMT
ARE YOU EXPOSED TO A LOSS IN THIS LOAN? To assist you in assessing this i have set out a fictitious scenario below: True/sales value achieved: £1,435,000 (50% of valuation) If your exposure is proportionately more than 0.5% of the valuation, then you will incur a capital loss. If your exposure is proportionately less than 0.5% of the valuation, then you won't incur a loss. The critical number in this fictitious scenario is £14,350. You may infinitely adjust the true/sales value achieved figure in accordance with you own assessment of value. I suggest that the figure I have used is worst case. One could use such a calculation as a reason to invest in this loan. Please note that this is not advice. I dont get this. If the property sells for £1.435m thats a shortfall of 28%, so everyone loses 28% of their capital (not taking PF into account) doesnt matter what you exposure is. Or am I completely missing what you are saying? Incidentally there is risk analysis by solictorious at the bottom of the FAQ 1st post incl hard LTV loss analysis for various realisation scenarios
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Post by easilyparted on Aug 2, 2016 12:56:38 GMT
ARE YOU EXPOSED TO A LOSS IN THIS LOAN? To assist you in assessing this i have set out a fictitious scenario below: True/sales value achieved: £1,435,000 (50% of valuation) If your exposure is proportionately more than 0.5% of the valuation, then you will incur a capital loss. If your exposure is proportionately less than 0.5% of the valuation, then you won't incur a loss. The critical number in this fictitious scenario is £14,350. You may infinitely adjust the true/sales value achieved figure in accordance with you own assessment of value. I suggest that the figure I have used is worst case. One could use such a calculation as a reason to invest in this loan. Please note that this is not advice. Just think yourself lucky you aren't having the pleasure of the borrowers favourite LPA receiver selling it for SS,you'd be lucky to get £600k.
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Post by Deleted on Aug 2, 2016 12:59:44 GMT
ARE YOU EXPOSED TO A LOSS IN THIS LOAN? To assist you in assessing this i have set out a fictitious scenario below: True/sales value achieved: £1,435,000 (50% of valuation) If your exposure is proportionately more than 0.5% of the valuation, then you will incur a capital loss. If your exposure is proportionately less than 0.5% of the valuation, then you won't incur a loss. The critical number in this fictitious scenario is £14,350. You may infinitely adjust the true/sales value achieved figure in accordance with you own assessment of value. I suggest that the figure I have used is worst case. One could use such a calculation as a reason to invest in this loan. Please note that this is not advice. Think this needs more explanation if it is to assist anyone.
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Post by dualinvestor on Aug 2, 2016 13:03:27 GMT
ARE YOU EXPOSED TO A LOSS IN THIS LOAN? To assist you in assessing this i have set out a fictitious scenario below: True/sales value achieved: £1,435,000 (50% of valuation) If your exposure is proportionately more than 0.5% of the valuation, then you will incur a capital loss. If your exposure is proportionately less than 0.5% of the valuation, then you won't incur a loss. The critical number in this fictitious scenario is £14,350. You may infinitely adjust the true/sales value achieved figure in accordance with you own assessment of value. I suggest that the figure I have used is worst case.One could use such a calculation as a reason to invest in this loan. Please note that this is not advice. Why is that worst case? Some or all of the property is on the Estates Gazette web site for £10 per square foot rent (5000+ square feet and 10000+ square feet), so it would appear that some or all of the property is unoccupied.
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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
Posts: 11,333
Likes: 11,552
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Post by ilmoro on Aug 2, 2016 13:22:07 GMT
ARE YOU EXPOSED TO A LOSS IN THIS LOAN? To assist you in assessing this i have set out a fictitious scenario below: True/sales value achieved: £1,435,000 (50% of valuation) If your exposure is proportionately more than 0.5% of the valuation, then you will incur a capital loss. If your exposure is proportionately less than 0.5% of the valuation, then you won't incur a loss. The critical number in this fictitious scenario is £14,350. You may infinitely adjust the true/sales value achieved figure in accordance with you own assessment of value. I suggest that the figure I have used is worst case.One could use such a calculation as a reason to invest in this loan. Please note that this is not advice. Why is that worst case? Some or all of the property is on the Estates Gazette web site for £10 per square foot rent (5000+ square feet and 10000+ square feet), so it would appear that some or all of the property is unoccupied. or the existing tenant (linked to the borrower) is looking to move out (they have other offices nearby) and the borrower is seeking a tenant to replace them in advance.
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Post by lb on Aug 2, 2016 13:32:35 GMT
any value is totally depending on the terms of the leases - i assume SS had this checked out prior to lending but it seems that if the borrowers are really as unscrupulous as it sounds then the real value is going to vest in those leases and not in the freehold ...
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Post by dualinvestor on Aug 2, 2016 13:48:05 GMT
any value is totally depending on the terms of the leases - i assume SS had this checked out prior to lending but it seems that if the borrowers are really as unscrupulous as it sounds then the real value is going to vest in those leases and not in the freehold ... Actually SS state in the loan particulars that Manpower UK Limited is part of IBM so I would not be too sure how much checking they did. I am not implying that the covenant of Manpower UK Limited or Manpower Corporation is anything less than the highest calibre but it is not IBM.
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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
Posts: 11,333
Likes: 11,552
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Post by ilmoro on Aug 2, 2016 14:20:02 GMT
any value is totally depending on the terms of the leases - i assume SS had this checked out prior to lending but it seems that if the borrowers are really as unscrupulous as it sounds then the real value is going to vest in those leases and not in the freehold ... Actually SS state in the loan particulars that Manpower UK Limited is part of IBM so I would not be too sure how much checking they did. I am not implying that the covenant of Manpower UK Limited or Manpower Corporation is anything less than the highest calibre but it is not IBM. Not sure thats right and might be a typo - is M******* part of I** or just trading as I**, as the valuation states, becuase M******* in a strategic partnership to provide I**s staffing? That said quite right M******* isnt I** - only $20b revenues last year thats a quarter of I** - might have to rummage down the back of the corporate sofa 
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littleoldlady
Member of DD Central
Running down all platforms due to age
Posts: 3,045
Likes: 1,862
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Post by littleoldlady on Aug 2, 2016 14:28:31 GMT
Something seems wrong with this thread. I can go direct to page 11 if I am on any of pages 1 to 9, but page 10 suggests it is the last page.
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Post by dualinvestor on Aug 2, 2016 14:40:27 GMT
Actually SS state in the loan particulars that Manpower UK Limited is part of IBM so I would not be too sure how much checking they did. I am not implying that the covenant of Manpower UK Limited or Manpower Corporation is anything less than the highest calibre but it is not IBM. Not sure thats right and might be a typo - is Manpower part of IBM or just trading as IBM, as the valuation states, becuase Manpower is in a strategic partnership to provide IBMs staffing? That said quite right Manpower isnt IBM - only $20b revenues last year thats a quarter of IBM - might have to rummage down the back of the corporate sofa "One of the tenants is Manpower UK Ltd, which is part of IBM." Seems fairly unambiguous to me and no scope for it being a typo.
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