r1200gs
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Post by r1200gs on Sept 26, 2017 11:11:49 GMT
The news story in the Argus says there are 4 bus companies and 6 other firms on the site and houses were demolished on the site by the owners a few weeks ago And arson is suspected. I doubt connected with the borrower and doubt will have any impact on this white elephant of a site in terms of it's pie in the sky potential, or lack of. Any chance of filling that out a little? What are your specific concerns?
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mikes1531
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Post by mikes1531 on Sept 26, 2017 14:35:44 GMT
The most reassuring thing about this loan is a genuine low LTV. ... as long as the security doesn't end up for sale at 18% of the value stated in the RICS VR -- which is what has happened with another Lendy loan (PBL094).
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hazellend
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Post by hazellend on Sept 26, 2017 14:49:01 GMT
The most reassuring thing about this loan is a genuine low LTV. ... as long as the security doesn't end up for sale at 18% of the value stated in the RICS VR -- which is what has happened with another Lendy loan (PBL094). Sure, but in this case we actually know the purchase price, and it is more than double the loan amount.
I find the purchase price to be much more reassuring than the VR report in general, even though it may often include hope value.
I wouldn't be surprised to find PBL094 was purchased for an amount similar to what it is now selling for (i.e. 20% of the ridiculous VR)
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mikes1531
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Post by mikes1531 on Sept 26, 2017 15:08:58 GMT
I wouldn't be surprised to find PBL094 was purchased for an amount similar to what it is now selling for (i.e. 20% of the ridiculous VR) Is that info available from the Land Registry?
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Doc
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Post by Doc on Oct 1, 2017 8:20:33 GMT
The South Down Project's vision (not the borrower) for the c***** works.
(Link redacted as it identifies the secured asset)
Edit: A quick google is required.
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Doc
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Post by Doc on Oct 2, 2017 10:48:37 GMT
More information on the proposed development ... offgridbreak (google)
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hazellend
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Post by hazellend on Dec 10, 2017 12:49:18 GMT
Thanks CD!
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Post by doonio on Jan 6, 2018 21:08:33 GMT
New update released:
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TitoPuente
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Post by TitoPuente on Feb 3, 2018 10:25:15 GMT
This one sounds like it's going nowhere. No update on the JV or on anything specific.
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GeorgeT
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Post by GeorgeT on Feb 12, 2018 21:57:41 GMT
Article relating to this site in today's Argus paper/website.
Not massively informative as regards this loan but involves a builder working on the site.
Link will be posted in DD central.
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withnell
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Post by withnell on Apr 6, 2018 8:55:47 GMT
Due to refinance today - if it does that's 4.7m flowing in, I wonder what impact that will have on the SM?
Currently stands at 9,131k.
Big availables
PBL199: 3,485k
DFL019-21: 2,425k
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lobster
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Post by lobster on Apr 6, 2018 10:46:59 GMT
Scenario 1 : PBL168 does indeed repay today, and that a good % of the 4.7m repayment gets invested back onto the SM. Outcome =  Scenario 2 : Endless BS from Lendy in the weeks and months ahead about "imminent repayment". Outcome =  Scenario 3 : PBL168 does indeed repay today, but hardly any of the 4.7m repayment is reinvested on the SM. Outcome = RIP Lendy  . |
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Jeepers
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Post by Jeepers on Apr 6, 2018 15:13:27 GMT
Did somebody mention repayment today Lendy Support? If that's not going to happen today, at least provide a follow-up update explain why. |
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hazellend
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Post by hazellend on Apr 6, 2018 15:51:09 GMT
Yes. The Borrower's broker. If that doesn't happen today, I expect Lendy will. Next Friday, in line with scheduled updates. (Having had a chance to speak with the broker, who has to speak to the borrower, etc. etc.) Sorry but that’s not how we do things around here. What about moaning, whining, throwing toys out of the pram, rampant speculation we are going to get a 50% haircut? You want to skip all that fun stuff and wait patiently for a whole week???
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Post by wottalot on Apr 6, 2018 16:20:28 GMT
Good gracious - it has been repaid as promised.
Well done Lendy.
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