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Post by Ton ⓉⓞⓃ on Mar 27, 2014 18:14:18 GMT
This is now open for monied bids
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Post by bracknellboy on Mar 27, 2014 22:07:46 GMT
Does the size of the borrower's current credit card balances concern anyone ? Also is the jump in t/o between 2013 and 2014, even allowing for adding back in a missing revenue item, realistic ?
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Post by Ton ⓉⓞⓃ on Mar 27, 2014 22:30:48 GMT
Does the size of the borrower's current credit card balances concern anyone ? Also is the jump in t/o between 2013 and 2014, even allowing for adding back in a missing revenue item, realistic ? Yes I noticed the relatively high bill, I've asked a question as to how it'll be paid and how did it come about. IN EDIT. With the increase in turn over. How exactly is the office space being used? If we take 2013 based as 1,then 2014 increases by 1.26 and 2015 by 1.35, and 2016 by a factor of 1.45
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mikes1531
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Post by mikes1531 on Mar 28, 2014 4:21:08 GMT
Also is the jump in t/o between 2013 and 2014, even allowing for adding back in a missing revenue item, realistic ? With the increase in turn over. How exactly is the office space being used? If we take 2013 based as 1,then 2014 increases by 1.26 and 2015 by 1.35, and 2016 by a factor of 1.45 It isn't clear to me whether the increased turnover is the result of higher rents or reduced voids. I don't think we even know what the current occupancy rate is and therefore whether there's much scope for fewer voids.
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Post by Ton ⓉⓞⓃ on Mar 28, 2014 18:27:17 GMT
With the increase in turn over. How exactly is the office space being used? If we take 2013 based as 1,then 2014 increases by 1.26 and 2015 by 1.35, and 2016 by a factor of 1.45 It isn't clear to me whether the increased turnover is the result of higher rents or reduced voids. I don't think we even know what the current occupancy rate is and therefore whether there's much scope for fewer voids. In the short version of the credit report it states 90% and then later on somewhere (last page) "Occupancy is now at the 90% mark and offices vacated are being filled almost immediately the tenant leaves." Which is really good work, I imagine that's why they have the steady and significant price rises. When the economy is going well; renting office space in London is a way to print money, outside of London and before any nationwide improvement in the economy I have no understanding of but clearly the borrower will. So long as they can pay the bills at today's prices I'm assuming it should be ok, tho' the first 12months are interest only with a relatively small rise in the 13th month. But I would appreciate anyone with knowledge in this area pitching in with some thoughts...
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j
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Post by j on Mar 28, 2014 20:14:50 GMT
With the increase in turn over. How exactly is the office space being used? If we take 2013 based as 1,then 2014 increases by 1.26 and 2015 by 1.35, and 2016 by a factor of 1.45 It isn't clear to me whether the increased turnover is the result of higher rents or reduced voids. I don't think we even know what the current occupancy rate is and therefore whether there's much scope for fewer voids. I think the report said the annual collective rent was around £36k or £39k & that will now become £51k once the vendor becomes the owner, presumably AC requested the increased figure be paid as it goes directly to them & will be sufficient to cover repayments, etc. I've read the report quite late last night when I was half asleep so, forgive me if I got the details wrong! EDIT: What I meant to say & didn't say very well as that the borrower, once they own the property, will not have to pay the current owner any rent as such, so they can increase their own rent to £51k as they are saving £36k already, in order to cover AC's terms of repayment. Still clear as mud most likely 
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Post by Ton ⓉⓞⓃ on Apr 6, 2014 19:57:42 GMT
This ends in about 3 days and an Addendum to the Credit Report has been filed along with answers to all questions. All worth reading, I'm now more certain about this and will be bidding on Monday, not sure if u/wers will be used I don't think anyone has asked about it.
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j
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Post by j on Apr 6, 2014 20:01:51 GMT
This ends in about 3 days and an Addendum to the Credit Report has been filed along with answers to all questions. All worth reading, I'm now more certain about this and will be bidding on Monday, not sure if u/wers will be used I don't think anyone has asked about it. Thnx for the update Ton ⓉⓞⓃ. I'd actually place a very small bid when it opened & forgot all about it. Will re-check & act accordingly.
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Post by jevans4949 on Apr 6, 2014 21:50:13 GMT
The addendum makes heartwarming reading. I'm almost tempted to bung in some more.
If I lived in Coventry, I certainly wouldn't be voting for the people who invented that scheme ... absolutely unfriendly to small businesses. Probably have a rose for a logo.
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mikeb
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Post by mikeb on Apr 7, 2014 17:35:58 GMT
The addendum makes heartwarming reading. I'm almost tempted to bung in some more. If I lived in Coventry, I certainly wouldn't be voting for the people who invented that scheme ... absolutely unfriendly to small businesses. Probably have a rose for a logo. On logos :- Go to Google Images, type "Coventry council logo" Now type "Wella logo" Someone had been overdosing on the shampoo when designing that council logo ... It's supposed to be Godiva and horse ... The Business Improvement Districts have not been entirely popular in Coventry, only a small bit different from when dodgy types come round and demand money with menaces from businesses to "keep them safe"  And yes, I'm fairly sure you're right, it came in during a long term red and rosy period. A lot of promises were made, if you pay up this tax/levy/ransom, then we will bring you high speed broadband etc. ... which many companies saw no benefit from at all, and there was much revolting against it. It doesn't surprise me that the council end up squashing businesses like this with demands for cash!
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j
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Penguins are very misunderstood!
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Post by j on Apr 8, 2014 10:04:59 GMT
Considering this loan ends in just over 2 days, is less than 50% funded & with projected draw down of April 14th, it seems very likely underwriters will be involved with possibly a time extension to bid them out too.
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ramblin rose
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“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on Apr 9, 2014 15:15:55 GMT
................................. Probably have a rose for a logo. ........................And yes, I'm fairly sure you're right, it came in during a long term red and rosy period. An innocent rose might feel offended at all this 
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mikeb
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Post by mikeb on Apr 9, 2014 17:37:30 GMT
........................And yes, I'm fairly sure you're right, it came in during a long term red and rosy period. An innocent rose might feel offended at all this Only if you live in Cov****y and voted for La***r ! Otherwise, you're okay 
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Post by jevans4949 on Apr 9, 2014 20:20:13 GMT
........................And yes, I'm fairly sure you're right, it came in during a long term red and rosy period. An innocent rose might feel offended at all this Roses are shining in Picardy In the hush of the silver dew Roses are flowering in Picardy But there's never a rose like you And the roses will die with the summer time And our roads may be far apart But there's one rose that dies not in Picardy 'Tis the rose that I keep in my heart
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oldgrumpy
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Post by oldgrumpy on Apr 9, 2014 20:29:39 GMT
AaaaaaaaaaaaaaaaaaaaaaHHH  (sniff) |
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And yes, I'm fairly sure you're right, it came in during a long term red and rosy period.
(sniff)