fp
Posts: 1,008 
Likes: 853
|
Post by fp on Jul 29, 2016 17:39:14 GMT
|
|
jfm
Member of DD Central
Posts: 135
Likes: 67
|
Post by jfm on Jul 29, 2016 20:35:32 GMT
|
|
bloodycat
Member of DD Central
Posts: 184
Likes: 84
|
Post by bloodycat on Aug 3, 2016 7:58:30 GMT
Most of them will be for the Drainage/sewerage infrastructure. Access points, inspection chambers for traps etc.
Given the size of the building it is possible that one or 2 might be ducts for connection of the other services.
|
|
kaya
Member of DD Central
Posts: 1,150
Likes: 718
|
Post by kaya on Aug 3, 2016 8:09:25 GMT
Busy morning.   (Insert image seems to be having a problem, so here's a link to the imgur image.) Thanks for that Please turn me over . I wish we could have updates like this on all the loans, certainly gives me more confidence as to where my money is going.... I think that is a great idea. Perhaps Saving Stream could help to encourage/coordinate photographic updates on all loans?
|
|
|
|
Post by dualinvestor on Aug 3, 2016 13:10:15 GMT
Why does a consortium of borrowers that has
"Asset and Liabilities of all borrowers:
£19.65m assets
£2.15m liabilities"
need to borrow £1.6million for 12 months at 18% plus?
|
|
stokeloans
Member of DD Central
Posts: 402
Likes: 485
|
Post by stokeloans on Aug 3, 2016 13:14:43 GMT
I believe the developers have set up a video camera on the roof of the building opposite.
|
|
locutus
Member of DD Central
Posts: 1,059
Likes: 1,622
|
Post by locutus on Aug 3, 2016 13:32:12 GMT
Why does a consortium of borrowers that has "Asset and Liabilities of all borrowers: £19.65m assets £2.15m liabilities" need to borrow £1.6million for 12 months at 18% plus? Cashflow. The bane of every company.
|
|
fp
Posts: 1,008
Likes: 853
|
Post by fp on Aug 3, 2016 13:34:59 GMT
Why does a consortium of borrowers that has "Asset and Liabilities of all borrowers: £19.65m assets £2.15m liabilities" need to borrow £1.6million for 12 months at 18% plus? Not mine 
|
|
|
|
Post by dualinvestor on Aug 3, 2016 13:46:17 GMT
Why does a consortium of borrowers that has "Asset and Liabilities of all borrowers: £19.65m assets £2.15m liabilities" need to borrow £1.6million for 12 months at 18% plus? Cashflow. The bane of every company. Doesn't explain why they can't get it at a lower rate of interest with such an, apparently, good covenant, especially one with "Credit History of Applicant: Excellent" and "Our borrower is an experienced developer, having successfully operated in the residential apartment/student accommodation and care home sector." Edit They did have at least six months to find a mainstream lender, the valuation is dated January 2016 and addressed to Lendy Ltd.
|
|
|
|
Post by mrclondon on Aug 3, 2016 14:41:09 GMT
Both challenger and mainstream banks are very reluctant to take on development risk, and take many many months on due dilligence if they can be persuaded to take an interest in the project at all. Student accomodation developments are time critical - they have to be completed in July/August to be ready for occupancy at the start of the academic years in late September. P2P is financing a lot of student developments as the due dilligence can be completed and the project financed on a time table that allows the project to complete in a July/August.
AC, MT and SS have all funded student accomodation developments, indeed it was a student accomodation development that effectively launched AC. Very good business for the p2p sector, and especially the platforms that are lucky enough to finance these developments.
|
|
fp
Posts: 1,008
Likes: 853
|
Post by fp on Aug 3, 2016 14:52:44 GMT
Both challenger and mainstream banks are very reluctant to take on development risk, and take many many months on due dilligence if they can be persuaded to take an interest in the project at all. Student accomodation developments are time critical - they have to be completed in July/August to be ready for occupancy at the start of the academic years in late September. P2P is financing a lot of student developments as the due dilligence can be completed and the project financed on a time table that allows the project to complete in a July/August. AC, MT and SS have all funded student accomodation developments, indeed it was a student accomodation development that effectively launched AC. Very good business for the p2p sector, and especially the platforms that are lucky enough to finance these developments. I had the same when I bought my current home which was derelict at the time, I ended up funding it with a directors loan until it was habitable, then, and only then could I get a mortgage.
|
|
jonah
Member of DD Central
Posts: 2,031
Likes: 1,113
|
Post by jonah on Oct 5, 2016 19:55:45 GMT
But more importantly Please turn me over, where is the sheep? I had thought lower right corner but that was just a human, building something... |
|
adrianc
Member of DD Central
Posts: 10,022
Likes: 5,148
|
Post by adrianc on Oct 5, 2016 20:56:48 GMT
But more importantly Please turn me over , where is the sheep? I had thought lower right corner but that was just a human, building something... Sheep ears don't fit under hard hats very well, and it's a bugger to get hivis dye out of wool.
|
|
ablender
Member of DD Central
Posts: 2,204
Likes: 555
|
Post by ablender on Oct 26, 2016 17:09:30 GMT
The first scaffolding went up today (lower left-hand corner). (Asset name blacked-out.) Do you go grazing round the corner from this site?
|
|
star dust
Member of DD Central
Posts: 2,998
Likes: 3,531
|
Post by star dust on Oct 26, 2016 17:11:31 GMT
The first scaffolding went up today (lower left-hand corner). (Asset name blacked-out.) ...... Like the flying car  .
|
|
.