peteuk
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Post by peteuk on Feb 10, 2016 18:08:23 GMT
This is my first post so bear with me, I googled the price of good land in herts and it came up with £9500 this multiplied by the acreage makes 1.9 million way below its stated value should anything go wrong, so I would be looking at a loss taking in to account other costs. Or have I got it wrong?
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cooling_dude
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Post by cooling_dude on Feb 10, 2016 18:15:32 GMT
This is my first post so bear with me, I googled the price of good land in herts and it came up with £9500 this multiplied by the acreage makes 1.9 million way below its stated value should anything go wrong, so I would be looking at a loss taking in to account other costs. Or have I got it wrong? A valuation hasn’t been released yet, so it’s hard to give you an answer until that is done. However, this isn’t just land; it currently has Large industrial units on it with planning permission on the site for over 100 residential units; so this is going to add to the value considerably
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Post by highlandtiger on Feb 10, 2016 18:17:58 GMT
This is my first post so bear with me, I googled the price of good land in herts and it came up with £9500 this multiplied by the acreage makes 1.9 million way below its stated value should anything go wrong, so I would be looking at a loss taking in to account other costs. Or have I got it wrong? Each tranche of land is 250 acres (not sure why it now says 200+). The whole lot is around 1000 acres If you look in the description they valued the land at £10k an acre. Considering your Google search is a 2014 valuation I think SS have got it just about right
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peteuk
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Post by peteuk on Feb 10, 2016 18:31:40 GMT
The search was 2015 and it said land values had gone up to 9500 a 20% rise on the year but its good to know there are value added buildings and planning involved I will look with interest when more detail is forthcoming from SS
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ilmoro
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'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 Feb 10, 2016 18:34:23 GMT
The search was 2015 and it said land values had gone up to 9500 a 20% rise on the year but its good to know there are value added buildings and planning involved I will look with interest when more detail is forthcoming from SS I expect SS are using the GDV not the actual land value but we wont know for definite until valuation goes up as Dude says
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adrianc
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Post by adrianc on Feb 10, 2016 19:20:28 GMT
This is my first post so bear with me, I googled the price of good land in herts and it came up with £9500 this multiplied by the acreage makes 1.9 million way below its stated value should anything go wrong, so I would be looking at a loss taking in to account other costs. Or have I got it wrong? Which loan(s) are you thinking of? The four tranches of the Biggleswade, Bedfordshire farm that's about to go live? Or the Watford, Hertfordshire business park?
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cooling_dude
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Post by cooling_dude on Feb 10, 2016 19:46:47 GMT
If we're talking about the 4 tranches, then aren't they a "strategic" punt on the possibility of planing permission being obtainable in the future? Once again, it's hard to comment until we see a valuation report. It would be nice to see this before the loans go live. It is hard to see how a valuation on the land "as is" (i.e. without planning permission) would be represented in the LTV. I hope that savingstream aren't basing their security value on the assumption the land will get planning permission. Must admit I'm a tad concerned about the Bedfordshire loans.
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Liz
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Post by Liz on Feb 11, 2016 21:36:37 GMT
If we're talking about the 4 tranches, then aren't they a "strategic" punt on the possibility of planing permission being obtainable in the future? Once again, it's hard to comment until we see a valuation report. It would be nice to see this before the loans go live. It is hard to see how a valuation on the land "as is" (i.e. without planning permission) would be represented in the LTV. I hope that savingstream aren't basing their security value on the assumption the land will get planning permission. Must admit I'm a tad concerned about the Bedfordshire loans. If they don't get planning, we still have perfectly good farm land as security, and sold off at a 30% discount, at 7000 an acre, still gets is our money back. If it doesn't sell, we all get a weekly veg box, pick your own of course.
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Liz
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Post by Liz on Feb 11, 2016 21:39:41 GMT
The search was 2015 and it said land values had gone up to 9500 a 20% rise on the year but its good to know there are value added buildings and planning involved I will look with interest when more detail is forthcoming from SS I expect SS are using the GDV not the actual land value but we wont know for definite until valuation goes up as Dude says No SS said on another thread that they are valuing it purely on the basis of productive farm land.
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Feb 11, 2016 21:40:49 GMT
Once again, it's hard to comment until we see a valuation report. It would be nice to see this before the loans go live. It is hard to see how a valuation on the land "as is" (i.e. without planning permission) would be represented in the LTV. I hope that savingstream aren't basing their security value on the assumption the land will get planning permission. Must admit I'm a tad concerned about the Bedfordshire loans. If they don't get planning, we still have perfectly good farm land as security, and sold off at a 30% discount, at 7000 an acre, still gets is our money back. I completely agree; I would just like to see a valuation report that backs up what SS are saying! That being said, I do trust SS DD, I wouldn't have invested in the platform if I didn’t! So my prefunding is set up and ready to go!
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ilmoro
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Post by ilmoro on Feb 11, 2016 21:55:29 GMT
I expect SS are using the GDV not the actual land value but we wont know for definite until valuation goes up as Dude says No SS said on another thread that they are valuing it purely on the basis of productive farm land. Everyone seems to be getting their loans mixed up. The agricultural land is in Bedfordshire, the Herts land, which I believe the original poster was referring to, is industrial with PP for residential. This was what I was referring to re-GDV value
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