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Post by Ton ⓉⓞⓃ on Nov 7, 2014 11:03:47 GMT
" The Garden Centre valuation will of course be entirely dependent upon audited trading figures..."
Exactly. Have you seen them? Have you seen the business? Mainly from memory: I think we can forget about the business, it was not valued as a going concern, it has no value apart from it's debts (-ve value) and the land it sits. I think the house was not in an ideal state or location namely it was surrounded by a large area of concrete hard-standing and was unoccupied. But there was some nice looking houses with large plots of land further back up the road away from the centre. I found it hard to accept a valuation of £750k essentially being just 18acres of land in need of clearance. I can only imagine it rests on it's potential for several houses, I'm assuming the new business is disallowed. I've no idea if the council would consider a residential dev or if that is appropriate for the area.
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merlin
Minor shareholder in Assetz and many other companies.
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Post by merlin on Nov 7, 2014 12:00:55 GMT
I am sure most of us recognise that it is very difficult to come up with a reasonable valuation when so much depends on whether or not planning permission will be granted. IMHO 18 acres of residential land near Dover could be worth as much as much as £7.5M or if it is classified as horticultural with a house, as little as £500k.
Given that planning has already been refused once(?), it would be interesting to know on what grounds it was refused. This then might give us some clue as to what its value is now.
Anyone got any ideas?
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Post by chielamangus on Nov 7, 2014 14:40:56 GMT
Given that planning has already been refused once(?), it would be interesting to know on what grounds it was refused. This then might give us some clue as to what its value is now.
Anyone got any ideas? The full report detailing these grounds has been available on the relevant council website for some months and has been referred to in earlier comments on this thread.
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merlin
Minor shareholder in Assetz and many other companies.
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Post by merlin on Nov 7, 2014 15:23:38 GMT
Several of you have taken the trouble to contact me about the Shepway Planning Application and I much appreciate it. Certainly does not excite me and leaves me wondering exactly what the outcome to this will be for all parties involved. Have a much clearer idea why this went on at 15% in the first place and 18% perhaps in a few days time wont move me either!
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Post by mrclondon on Nov 9, 2014 11:50:50 GMT
chris , there is a possible bug with overdue loans on the aftermarket. Kent was scheduled for the final interest payment yesterday (8th) as well as the capital redemption. As expected, neither have been credited to our accounts, but the loan is still tradable ??
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andy2001
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Post by andy2001 on Nov 9, 2014 16:07:32 GMT
I am sure most of us recognise that it is very difficult to come up with a reasonable valuation when so much depends on whether or not planning permission will be granted. IMHO 18 acres of residential land near Dover could be worth as much as much as £7.5M or if it is classified as horticultural with a house, as little as £500k.
Given that planning has already been refused once(?), it would be interesting to know on what grounds it was refused. This then might give us some clue as to what its value is now.
Anyone got any ideas? I think the valuation the loan was based on is with no planning permission.
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merlin
Minor shareholder in Assetz and many other companies.
Posts: 902
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Post by merlin on Nov 10, 2014 10:19:06 GMT
I am sure most of us recognise that it is very difficult to come up with a reasonable valuation when so much depends on whether or not planning permission will be granted. IMHO 18 acres of residential land near Dover could be worth as much as much as £7.5M or if it is classified as horticultural with a house, as little as £500k.
Given that planning has already been refused once(?), it would be interesting to know on what grounds it was refused. This then might give us some clue as to what its value is now.
Anyone got any ideas? I think the valuation the loan was based on is with no planning permission. I agree. It is difficult to value something that may or may not have any value. So I stick to my post above and my suggestion of its true value could be as low as £500k. From feedback off line I know that I am not alone in this. However it could still be worth many times that figure if it all eventually came right and planning was granted. However time is running fast for the current loan and we could again be looking at another vote shortly.
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Post by Ton ⓉⓞⓃ on Nov 10, 2014 10:35:12 GMT
I agree merlin, the things that are in it's favour are that there already is a house on the site, so one imagines a builder might be allowed to put more houses, appropriates one that is. On top of that the site also has a business so the council has to be open to allowing another business back onto the site simultaneously tiding up a site that must be looking ever more in need of sorting out. Perhaps the site will be sold in two plots, allowing some shops/business and some houses. Anyone know if zoning applies here?  ? OR what other issues all this raises? |
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mikes1531
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Post by mikes1531 on Nov 10, 2014 15:17:45 GMT
chris: The 'final' interest payment for this loan was retained at the outset. Does the fact that we're now on the new system/website mean that the money can be released for payment without going through the process of paying off the original loan and setting up an 'extension' pseudo-loan to accumulate the default interest? In any case, can you give us some idea when the interest payment will be processed, and the 'reorganisation' done if necessary?
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Post by mrclondon on Nov 10, 2014 20:28:01 GMT
Perhaps the site will be sold in two plots, allowing some shops/business and some houses. Anyone know if zoning applies here? ? OR what other issues all this raises? The reasons given for the rejection of the previous planning application (a farm shop) in 2012 pretty much rules out any retail use for the site.
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bugs4me
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Post by bugs4me on Nov 10, 2014 22:55:15 GMT
Perhaps the site will be sold in two plots, allowing some shops/business and some houses. Anyone know if zoning applies here? ? OR what other issues all this raises? The reasons given for the rejection of the previous planning application (a farm shop) in 2012 pretty much rules out any retail use for the site. There were objections raised as recently as May this year and IMO they would not easily be overcome. It is in the public domain.
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merlin
Minor shareholder in Assetz and many other companies.
Posts: 902
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Post by merlin on Nov 11, 2014 10:04:17 GMT
Glad to see this morning that Ke** has been popular with buyers over night and consequently my investment has shifted from heavy to quite light. I have still got some more to sell before I can feel really comfortable. However I shall keep a bit of money in just so that I can watch the outcome of this one. As I have said earlier, in my mind this one is becoming a real gamble and will no doubt suit the avid National Lottery investors but not me.
Finished the day with just £2.75 plus a wodge of interest left in the ring. Good luck to those that bought me out, I say.
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mikes1531
Member of DD Central
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Post by mikes1531 on Nov 12, 2014 14:33:25 GMT
Glad to see this morning that Ke** has been popular with buyers over night and consequently my investment has shifted from heavy to quite light. I have still got some more to sell before I can feel really comfortable. However I shall keep a bit of money in just so that I can watch the outcome of this one. As I have said earlier, in my mind this one is becoming a real gamble and will no doubt suit the avid National Lottery investors but not me.
Finished the day with just £2.75 plus a wodge of interest left in the ring. Good luck to those that bought me out, I say. It would seem that some lenders can sell parts of this loan and others can't. Last night, my list of targeted loans showed there were about £1400 of parts available. When I looked at the loan's page, it showed the same. Which would be fine except that my target for this loan was set below my holding. So it looked like some parts were available to sell, but not mine. Today, my targeted list shows no units available for sale Is that because the £1400 of parts that were for sale last night were sold, or because Aftermarket sales of this loan have been suspended because it is overdue? The latter seems unlikely, because the loan was overdue yesterday as well, and that didn't stop the system from showing the £1400 of parts as being available. Meanwhile, my target remains below my holding and there's no sign of my parts being visible to anyone else, so I'm totally confused about what is happening. Does anybody have any idea which might be going on here? chris?
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bugs4me
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Post by bugs4me on Nov 12, 2014 14:43:52 GMT
Glad to see this morning that Ke** has been popular with buyers over night and consequently my investment has shifted from heavy to quite light. I have still got some more to sell before I can feel really comfortable. However I shall keep a bit of money in just so that I can watch the outcome of this one. As I have said earlier, in my mind this one is becoming a real gamble and will no doubt suit the avid National Lottery investors but not me.
Finished the day with just £2.75 plus a wodge of interest left in the ring. Good luck to those that bought me out, I say. It would seem that some lenders can sell parts of this loan and others can't. Last night, my list of targeted loans showed there were about £1400 of parts available. When I looked at the loan's page, it showed the same. Which would be fine except that my target for this loan was set below my holding. So it looked like some parts were available to sell, but not mine. Today, my targeted list shows no units available for sale Is that because the £1400 of parts that were for sale last night were sold, or because Aftermarket sales of this loan have been suspended because it is overdue? The latter seems unlikely, because the loan was overdue yesterday as well, and that didn't stop the system from showing the £1400 of parts as being available. Meanwhile, my target remains below my holding and there's no sign of my parts being visible to anyone else, so I'm totally confused about what is happening. Does anybody have any idea which might be going on here? chris? Appears as zero loan parts available so would have to agree mikes1531 - trading has been suspended.
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Post by pepperpot on Nov 12, 2014 14:43:56 GMT
Glad to see this morning that Ke** has been popular with buyers over night and consequently my investment has shifted from heavy to quite light. I have still got some more to sell before I can feel really comfortable. However I shall keep a bit of money in just so that I can watch the outcome of this one. As I have said earlier, in my mind this one is becoming a real gamble and will no doubt suit the avid National Lottery investors but not me.
Finished the day with just £2.75 plus a wodge of interest left in the ring. Good luck to those that bought me out, I say. It would seem that some lenders can sell parts of this loan and others can't. Last night, my list of targeted loans showed there were about £1400 of parts available. When I looked at the loan's page, it showed the same. Which would be fine except that my target for this loan was set below my holding. So it looked like some parts were available to sell, but not mine. Today, my targeted list shows no units available for sale Is that because the £1400 of parts that were for sale last night were sold, or because Aftermarket sales of this loan have been suspended because it is overdue? The latter seems unlikely, because the loan was overdue yesterday as well, and that didn't stop the system from showing the £1400 of parts as being available. Meanwhile, my target remains below my holding and there's no sign of my parts being visible to anyone else, so I'm totally confused about what is happening. Does anybody have any idea which might be going on here? chris? Have you tried jarring it into action, set target = to holding then reset it back to desired target? Nothing for sale atm, as far as I can see.
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? OR what other issues all this raises?
