kaya
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Uown
Mar 5, 2018 20:55:21 GMT
Post by kaya on Mar 5, 2018 20:55:21 GMT
Correct me if I am wrong, but if 4600+ shares are available for resale on 8 Eden Gardens, this means that about 50% of all shares are up for sale.
This in turn means that any investment in this property is effectively as illiquid as it ever was. (unless near the front of the queue.)
Added to that is the fact that the other two properties are a long way short of filling. 33 Stanmore street hasn't really moved in months. It has no hope of ever filling apparently, and no miserly referral scheme will change that. I would like at timetable for the dissolution of the non-funded properties & return of capital by the end of this year.
I remain unconvinced that this whole operation can succeed at all.
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djpix99
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Uown
Mar 5, 2018 21:06:13 GMT
via mobile
Post by djpix99 on Mar 5, 2018 21:06:13 GMT
Im sure I read that a single share is £1. As if I look at the My Account page the current price on Eden Gardens is listed as something like £1.0195
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Uown
Mar 5, 2018 22:22:11 GMT
Post by ilmoro on Mar 5, 2018 22:22:11 GMT
Correct me if I am wrong, but if 4600+ shares are available for resale on 8 Eden Gardens, this means that about 50% of all shares are up for sale. This in turn means that any investment in this property is effectively as illiquid as it ever was. (unless near the front of the queue.) Erm, not by my maths. Each share is a quid at issue and there are 185,000+ of them so about 2.5% is up for sale
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kaya
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Uown
Mar 6, 2018 20:36:47 GMT
Post by kaya on Mar 6, 2018 20:36:47 GMT
Ah, so I am wrong, thank you both for correcting me. I was using a £20 share value.
Still unconvinced though, in general.
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Uown
Mar 9, 2018 12:52:42 GMT
Post by uown on Mar 9, 2018 12:52:42 GMT
Hi chrisp2p, 1) seller has same address as yourself, what is the relationship and is There A conflict of interest? Hi, the seller of the property is Parklane Properties. We work in the same office, and they are our strategic property partner and back us. They provide the properties that we list on the platform, and any conflict of interest is mitigated by using third party chartered surveyors who provide the definitive price of the property. The Properties are revalued every quarter by chartered surveyors. 2) Why is the seller paying out 7%pa to prospective buyers if they do not have access to the money raised so far? The properties that we have currently on the platform are properties that are/were owned by Parklane Properties. Parklane are already managing these properties and have students currently living in them paying rent. An agreement was made at around this time last year between UOWN and Parklane that we would proportionately split the rent so that if the crowd had funded, for example, 30% of the property, Parklane would be entitled to 30% of the rent. This was done by Parklane to help us on our way. 3) Is There A legally binding agreement between UOWN/investors and the seller? No, there isn’t a legally binding contract with the seller (Parklane Properties) in respect to paying out the rent whilst the property is funding on the platform. However, the agreement we have in place with Parklane has been honoured every single month and we don’t have any expectations that will change. 4) what happens if the value of the property goes up or down during the capital raising period? Well, for this let’s answer with a real life example of 8 E*** G*****s . This property was initially listed on the platform at a value of £180,000, but by completion of the investment it was valued at £185,000 by independent surveyors. This means that those who invested at the £180,000 level essentially had a little bump up in their expected investment as the property was valued at a lower amount when they had bought in. It’s worth bearing in mind that the other properties on the platform are still listed at their original valuations, and that UOWN cannot guarantee whether property prices will go up or down in the future. 5) does UOWN Intend to offer any more properties for investment and if not can it be sustained with profit from just these three? Yes! There’s another 2 coming on very soon! 6) up to 30% has been offered to some investors as an incentive. Who is paying for this? Is it Uown or have you agreed a discount with the buyer We ran an offer in the summer 2017. It was available for about 24 hours, and was paid for by UOWN out of pocket. It was very expensive for us, but it did the job in a way as well. Don’t expect anything like that in the future. It was a once in a lifetime opportunity. Thanks UOWN |
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djpix99
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Post by djpix99 on Mar 23, 2018 19:57:17 GMT
I got a bit of a suprise today, I was walking round Hyde Park in Leeds and spotted a huge billboard with an advert for Uown. Unfortunately I didn't get a photo, but the add looked pretty good.
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Greenwood2
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Uown
Feb 11, 2020 14:41:45 GMT
Post by Greenwood2 on Feb 11, 2020 14:41:45 GMT
New property tomorrow, what do people think? Or does nobody invest there any more?
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djpix99
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Uown
Feb 11, 2020 14:57:32 GMT
Post by djpix99 on Feb 11, 2020 14:57:32 GMT
I'm planning to make a small investment in this one based on the performance of the first the first refurb project and BTL's. However a few things I've noted; - It's not clear if this is an equity investment or Uown's first p2p loan, as it says we have a 2nd charge.
- Looking at the street view and based on local knowledge, the area the development is located in isn't great, however there is a similar flat development 100 meters up the road and there is clearly some interest in purchasing units off plan
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Greenwood2
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Uown
Feb 12, 2020 7:11:27 GMT
Post by Greenwood2 on Feb 12, 2020 7:11:27 GMT
Looks like I decided to look at Uown at the wrong time if they are now going into P2P, I was looking for something different.  We will be second charge under presumably a big first charge, actually looks like two loans from one company, I suppose the developer has cost overrun and have run out of funds. Expected profit doesn't look that high so looks pretty risky to me, did they quote an LTV? I would like to have seen some outside pictures to show how far the development has gone, did I miss them? Looks too much like other P2P development loans to me, many of which haven't gone well, I think I'll sit this one out. |
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Uown
Feb 12, 2020 16:48:02 GMT
Ace likes this
Post by uown on Feb 12, 2020 16:48:02 GMT
New property tomorrow, what do people think? Or does nobody invest there any more? They do invest indeed  Jan 2020 was our busiest month on record. Just want to clarify that this is not a p2p loan, it's still equity based. We took out a second charge to provide a level of security for us and our investors. The money earned by our investors is not paid back in interest. We will be putting a thread together specifically for this deal but will answer some questions here directly. djpix99 You know Leeds better than most, so yeah the area Holbeck used to be a bit of a dive. However it's the area in Leeds for regeneration. A lot of new developments going on in the area. What clinches this site for us is that it literally takes 12 minutes to walk to the station from the site. We timed it ourselves, and we aren't fast walkers by any means. Also guess where the new proposed HS2 hub is going to be in Leeds, the south side of the current station, so Holbeck will literally be on the doorstep if/when it happens. Furthermore, the development is already nearly sold out to the investor market. 13 out 17 are sold, the other 4 are due to be sold shortly, so we think that risk wise we aren't exposed on the sales side. Greenwood2 Hi Greenwood. As mentioned it's not a p2p loan. The developer's cost didn't overrun. The main contractor on site went bust, you might have seen mention of it on the forum here. When they entered liquidation the developer of the site lost approximately £200,000, it was a really dire situation and literally the worst thing that can happen to any developer. We heard about the situation because we knew the builders who went bust and then after consideration and doing our own due diligence we decided we could list the project on the platform. Check our brochure to see some pictures. We will be walking round the site tomorrow, so will post some very up to date ones on the property page itself. I appreciate your concerns about the p2p loan sector. There's a lot of bad deals out there. I don't know what we can say that will allay those concerns, other than all of us at UOWN work very hard for the investors and try our best to make sure that they are protected and paid in full. So far we have a solid track record and I think/hope our investors are happy with what we have done for them.
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Greenwood2
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Uown
Feb 12, 2020 16:59:04 GMT
Post by Greenwood2 on Feb 12, 2020 16:59:04 GMT
New property tomorrow, what do people think? Or does nobody invest there any more? They do invest indeed Jan 2020 was our busiest month on record. Just want to clarify that this is not a p2p loan, it's still equity based. We took out a second charge to provide a level of security for us and our investors. The money earned by our investors is not paid back in interest. We will be putting a thread together specifically for this deal but will answer some questions here directly. djpix99 You know Leeds better than most, so yeah the area Holbeck used to be a bit of a dive. However it's the area in Leeds for regeneration. A lot of new developments going on in the area. What clinches this site for us is that it literally takes 12 minutes to walk to the station from the site. We timed it ourselves, and we aren't fast walkers by any means. Also guess where the new proposed HS2 hub is going to be in Leeds, the south side of the current station, so Holbeck will literally be on the doorstep if/when it happens. Furthermore, the development is already nearly sold out to the investor market. 13 out 17 are sold, the other 4 are due to be sold shortly, so we think that risk wise we aren't exposed on the sales side. Greenwood2 Hi Greenwood. As mentioned it's not a p2p loan. The developer's cost didn't overrun. The main contractor on site went bust, you might have seen mention of it on the forum here. When they entered liquidation the developer of the site lost approximately £200,000, it was a really dire situation and literally the worst thing that can happen to any developer. We heard about the situation because we knew the builders who went bust and then after consideration and doing our own due diligence we decided we could list the project on the platform. Check our brochure to see some pictures. We will be walking round the site tomorrow, so will post some very up to date ones on the property page itself. I appreciate your concerns about the p2p loan sector. There's a lot of bad deals out there. I don't know what we can say that will allay those concerns, other than all of us at UOWN work very hard for the investors and try our best to make sure that they are protected and paid in full. So far we have a solid track record and I think/hope our investors are happy with what we have done for them. Thanks for the information, I'll check it out.
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djpix99
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Uown
Feb 13, 2020 9:17:46 GMT
uown likes this
Post by djpix99 on Feb 13, 2020 9:17:46 GMT
They do invest indeed Jan 2020 was our busiest month on record. Just want to clarify that this is not a p2p loan, it's still equity based. We took out a second charge to provide a level of security for us and our investors. The money earned by our investors is not paid back in interest. We will be putting a thread together specifically for this deal but will answer some questions here directly. djpix99 You know Leeds better than most, so yeah the area Holbeck used to be a bit of a dive. However it's the area in Leeds for regeneration. A lot of new developments going on in the area. What clinches this site for us is that it literally takes 12 minutes to walk to the station from the site. We timed it ourselves, and we aren't fast walkers by any means. Also guess where the new proposed HS2 hub is going to be in Leeds, the south side of the current station, so Holbeck will literally be on the doorstep if/when it happens. Furthermore, the development is already nearly sold out to the investor market. 13 out 17 are sold, the other 4 are due to be sold shortly, so we think that risk wise we aren't exposed on the sales side. Greenwood2 Hi Greenwood. As mentioned it's not a p2p loan. The developer's cost didn't overrun. The main contractor on site went bust, you might have seen mention of it on the forum here. When they entered liquidation the developer of the site lost approximately £200,000, it was a really dire situation and literally the worst thing that can happen to any developer. We heard about the situation because we knew the builders who went bust and then after consideration and doing our own due diligence we decided we could list the project on the platform. Check our brochure to see some pictures. We will be walking round the site tomorrow, so will post some very up to date ones on the property page itself. I appreciate your concerns about the p2p loan sector. There's a lot of bad deals out there. I don't know what we can say that will allay those concerns, other than all of us at UOWN work very hard for the investors and try our best to make sure that they are protected and paid in full. So far we have a solid track record and I think/hope our investors are happy with what we have done for them. Thanks for the information, I'll check it out. Thanks uown you will be glad to know I have invested as I have trust in the platform and its decisions. Glad to hear that it's not a p2p loan also.
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Ukmikk
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Uown
Feb 13, 2020 9:24:02 GMT
via mobile
Post by Ukmikk on Feb 13, 2020 9:24:02 GMT
Hi uown, thanks for the information. I will check out the details of this offer over the weekend. My immediate question that I'll be trying to answer would be; have you listed this loan because it's commercially attractive, or has it been picked up as a favour to a developer that's been let down by one of your group companies? |
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Post by Ace on Feb 13, 2020 12:39:15 GMT
Hi uown , thanks for the information. I will check out the details of this offer over the weekend. My immediate question that I'll be trying to answer would be; have you listed this loan because it's commercially attractive, or has it been picked up as a favour to a developer that's been let down by one of your group companies? Too late, already fully funded.
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Ukmikk
Member of DD Central
Posts: 452
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Uown
Feb 13, 2020 13:23:31 GMT
via mobile
Post by Ukmikk on Feb 13, 2020 13:23:31 GMT
Hi uown , thanks for the information. I will check out the details of this offer over the weekend. My immediate question that I'll be trying to answer would be; have you listed this loan because it's commercially attractive, or has it been picked up as a favour to a developer that's been let down by one of your group companies? Too late, already fully funded. Ahh so I see. I only registered on the site a couple of days ago to check them out. I saw good feedback here from yourself and others. Is take up always this quick and did you invest in this one?
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