PBL084 & PBL166 Scottish Estate DEFAULT
Feb 26, 2016 15:33:14 GMT
agent69, david42, and 4 more like this
Post by cooling_dude on Feb 26, 2016 15:33:14 GMT
PBL084 is currently LIVE
PBL166 is due to go live 29/03 (Wednesday)
PLEASE NOTE : This post (and all my DD posts) are no longer being updated by myself (besides the basic loan status)
Some of my observations taken from the valuation report
1. The valuation is the current market value of the estate (£6,645,000)
> However the surveyor indicates that an additional £360,000 of value could be added to the estate (read 5.1 of the valuation for more information)
> The most interesting note from 5.1 is the proposed Hydro-electric scheme.
> The surveyor points out that the above combination may have a particular appeal and, in the event of a sale, this may result in a relatively short marketing period and / or a price exceeding expectation or both.
> Despite the above, the surveyor has provided an 180 market day valuation of £5,250,000 which would give a worst case scenario for LTV being 89%.
2. The surveyor was unable to access the stable block flats and was not possible to inspect the hotel internally
3. The land comprises of 1183 acres of agriculture land.
4. The current owners are retaining circa 2,000 acres to the east and north of the property and has been indicated that they intend to pursue an option agreement for the construction of a wind farm on that land.
5. The security includes a 30 year lease of sporting rights on circa 2,100 acres of adjacent hill (this is not indicated on the Sale Plan)
6. The surveyor points out that the market Highland Estates has been extremely difficult due to the political agenda in Scotland under SNP, due to their land reforms. It seems that due to this fact, it could take a significant time to sell the property, maybe in excess of 12 months (at market value)
PBL166 is due to go live 29/03 (Wednesday)
| -------------------------- | -------------------------- | |
| PBL84 - 1st Charge | PBL166 - 2nd Charge | |
| Loan Amount | 5,050,000 | 885,254 |
| Security Value | 8,500,000 | 8,500,000 |
| SS Indicated LTV | 59% | 70% |
| 90 Day Market Valuation | 5,250,000 | 5,250,000 |
| LTV Based on 90 day Market Valuation | 89% | 113% |
PLEASE NOTE : This post (and all my DD posts) are no longer being updated by myself (besides the basic loan status)
Some of my observations taken from the valuation report
1. The valuation is the current market value of the estate (£6,645,000)
> However the surveyor indicates that an additional £360,000 of value could be added to the estate (read 5.1 of the valuation for more information)
> The most interesting note from 5.1 is the proposed Hydro-electric scheme.
> The surveyor points out that the above combination may have a particular appeal and, in the event of a sale, this may result in a relatively short marketing period and / or a price exceeding expectation or both.
> Despite the above, the surveyor has provided an 180 market day valuation of £5,250,000 which would give a worst case scenario for LTV being 89%.
2. The surveyor was unable to access the stable block flats and was not possible to inspect the hotel internally
3. The land comprises of 1183 acres of agriculture land.
4. The current owners are retaining circa 2,000 acres to the east and north of the property and has been indicated that they intend to pursue an option agreement for the construction of a wind farm on that land.
5. The security includes a 30 year lease of sporting rights on circa 2,100 acres of adjacent hill (this is not indicated on the Sale Plan)
6. The surveyor points out that the market Highland Estates has been extremely difficult due to the political agenda in Scotland under SNP, due to their land reforms. It seems that due to this fact, it could take a significant time to sell the property, maybe in excess of 12 months (at market value)
| Loan went live @ | : | 27/02/2016 (12:27pm) |
| Allocation | : | 98% |
| No. of investers @ live time | : | 1404 |
