agent69
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Post by agent69 on Oct 16, 2017 20:17:32 GMT
Was dispatched to Plymouth this afternoon to look at some upcoming work, so decided to check on progress of the twin towers while I was in town. The developer must be getting a really good deal on the hire of his access scaffold, as he is obviously reluctant to take any of it down (both buildings still scaffolded to full height). Some cladding has been installed, but a long way from complete. Once the scaffold is removed and the site offices relocated there is still a significant amount of external work to be completed before anyone moves in. No idea what the state of play is within the 2 blocks. Worst aspect was that there were 3 or 4 vans parked alongside the site but very little activity on the scaffold. Chances of completion by the end of October - Nil. Maybe end of November if resources increase significantly. Nice work - any pictures? I didn't think this would finish on time. Did you happen to see the new blocks for 2nd loan starting yet? Unfortunately left the brownie in the office. The second development was due to start after this one finishes so I would not expect to see a lot just yet
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elliotn
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Post by elliotn on Oct 17, 2017 2:00:55 GMT
Would you say that's Nov 2017 or 2018? Ask me again in a months time The issue is that in July we were told it would take about 6 weeks to finish the build, now it looks like the true figure will be in the region of 20 weeks. Is this incompetence on the part of the developer, or a deliberate attempt to mislead investors? I'm guessing chocolate was a one time only offer MoneyThing?
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agent69
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Post by agent69 on Oct 18, 2017 18:27:03 GMT
Nice work - any pictures? My concerns would be, given the obvious delay to completion (and likely over run on budget), what measures have MT taken to ensure that the developer doesn't use the funds recently advanced for his next project to fund completion of this one (potentially just kicking the financial can down the street)
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m2btj
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Post by m2btj on Oct 20, 2017 13:27:12 GMT
New updates for Plymouth student loans. Despite a delay on block A, sales on Block B can be completed in advance of completion of Block A. We expect the loan to be repaid in full to lenders on or before the expiry date following the sale of Block B.
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jlend
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Post by jlend on Nov 15, 2017 14:06:06 GMT
MoneyThingAny sign of some photos of block B as promised once the scaffold comes down? Cheers
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seeingred
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Post by seeingred on Nov 15, 2017 21:10:01 GMT
Last update on this project seems to be as follows: 20/10/2017 We met with the borrower this week to get a full update on the development. And not a squeak since? That was 4 weeks ago? Are you going to give us some information about the meeting? It may have been put elsewhere but it doesn't seem to be on the loan pages. Thank you. MoneyThing
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jlend
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Post by jlend on Nov 15, 2017 21:19:10 GMT
Last update on this project seems to be as follows: 20/10/2017 We met with the borrower this week to get a full update on the development. And not a squeak since? That was 4 weeks ago? Are you going to give us some information about the meeting? It may have been put elsewhere but it doesn't seem to be on the loan pages. Thank you. MoneyThing If you click on the Read more... link after the statement you mention you will see a good summary of the meeting on the Updates page for the loan
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seeingred
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Post by seeingred on Nov 15, 2017 21:24:26 GMT
A lot should have happened on this fast track project in the last month - that was the point.
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bababill
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Post by bababill on Nov 16, 2017 5:43:20 GMT
Its actually only been 27 days since the last update...
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hazellend
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Post by hazellend on Nov 21, 2017 11:08:36 GMT
Nicer than my house! Do any students still rent normal flats?
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archie
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Post by archie on Nov 21, 2017 11:38:18 GMT
Is it repaying tomorrow?
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ric
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Post by ric on Nov 22, 2017 0:31:15 GMT
just repaid
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dermot
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Post by dermot on Nov 22, 2017 0:44:23 GMT
Good, but with recent repayments, I've now got over £10k sloshing around looking for a home. No, not Lendy ....
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Post by mrclondon on Nov 22, 2017 0:51:00 GMT
Err no ... defaulted. I've renamed the thread with the new loan details as per the 'Funds' page, its not on the defaults tab yet.
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keystone
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Post by keystone on Nov 22, 2017 0:59:13 GMT
Wow! Didn't see that coming when told this would repay before the end date just over a week ago!
Now listed under defaults tab.
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