littleoldlady
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Post by littleoldlady on Sept 1, 2016 16:43:40 GMT
I am not in this one but I (and I imagine a lot of others) will be very interested in the end game. Could anyone on this forum who is in the loan kindly keep us informed of any developments which are not confidential.
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surby
Minor shareholder in Assetz Capital
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Post by surby on Sept 9, 2016 15:41:05 GMT
I am in this one. I have not yet heard from PM about the closure but I know from a private email exchange that Andrew has some interesting ideas. It may be that they are waiting for him to return from holiday before finalising plans and messaging shareholders?
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littleoldlady
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Post by littleoldlady on Sept 10, 2016 8:33:01 GMT
Thanks surby. Please keep us informed of developments. |
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surby
Minor shareholder in Assetz Capital
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Post by surby on Sept 16, 2016 16:09:07 GMT
Shareholders in SPV1 were invited to vote yesterday on an offer for the property. If it is accepted, PM has calculated the total return on the two year project will be 14%. This is slightly below the original aspiration but there was a significant void period in this particular case.
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hazellend
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Post by hazellend on Sept 16, 2016 17:40:41 GMT
Hi Surby,
What is the price like compared to the predicted sale value when originally purchased?
Do you know what the capital gain is for investors (total investment cost including PM fee - sale price - pm fee)
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surby
Minor shareholder in Assetz Capital
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Post by surby on Sept 17, 2016 17:26:31 GMT
The detailed figures are available to investors in SPV1 to inform their vote. I am not comfortable releasing them myself for confidentiality reasons hence tagging propertymoose. |
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littleoldlady
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Post by littleoldlady on Sept 20, 2016 12:12:50 GMT
I am guessing that the net proceeds from the sale are similar to the price paid 2 years ago.
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Post by investor191 on Oct 2, 2016 17:47:13 GMT
Any update on this one?
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adrianc
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Post by adrianc on Oct 2, 2016 18:22:24 GMT
If it is accepted, PM has calculated the total return on the two year project will be 14%. 14% over two years, including rent and value increase? Roughly how much of that's increase, how much rent? Mind me asking which way you're thinking of going? Sell or keep?
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ben
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Post by ben on Oct 2, 2016 19:27:36 GMT
Think most is rent, I always aim for the ones with decent rent if you make something when sold is a bonus. For property gains, PP is better suited as PM fees pretty much eat up most of gains either from end or the start.
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surby
Minor shareholder in Assetz Capital
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Post by surby on Oct 4, 2016 6:27:14 GMT
If it is accepted, PM has calculated the total return on the two year project will be 14%. 14% over two years, including rent and value increase? Roughly how much of that's increase, how much rent? Mind me asking which way you're thinking of going? Sell or keep? I voted to sell, as did the majority. PM is now progressing matters with lawyers. I'll let people know when all is settled.
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littleoldlady
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Post by littleoldlady on Oct 7, 2016 20:06:04 GMT
Someone is offering a £500 share for £515. The holder will know the offer price, so I assume he prefers £515 to a share out. Ignoring the buying fee ISTM that this implies that the capital gain has been less than 3%. surby said that the estimated total return was expected to be about 14% which would all come from rent were it not for a void period. So it looks like the capital appreciation has just been enough to compensate for the void period. Or am I missing something? |
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pom
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Post by pom on Oct 8, 2016 8:36:45 GMT
Not sure if it would be a good idea to assume too much from a single seller...I can now see the void on this one and a 3% gain isn't going to bring that up to 14%.
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littleoldlady
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Post by littleoldlady on Oct 8, 2016 11:44:19 GMT
Looks like a bargain then? I am tempted.
Later: I have bought it.
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pom
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Post by pom on Oct 8, 2016 13:42:13 GMT
Looks like a bargain then? I am tempted. Later: I have bought it. Wow you're brave...! So now that you can presumably see the offer, was it a bargain? Then again I guess you'll get at least one rent payment out of it so that should cover some of it. Was it still 5% fee? I have quite a few from SPV16 onwards on sale with better rental records than that one if you fancy... 
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