Towards the end of last year we were told demolition was under way, and I (on another thread ?) queried this as there was no obvious planning submission (discharge of conditions) of the plan for demolition (which would include details of how the portion which was not to be demolished was to be supported / weather proofed). Unsurprisingly demolition of the building has NOT taken place.
The outline planning application is for the demolition of the part of the building in the red area, and the creation of a street of residential properties with access from the south.
Photos taken 3:30pm on Wed 5th Sept
from the south looking west along W******** Rd at the portion of the building which is to be demolished
from the NW corner (on Ru***** St) looking south, again at the building which is to be demolished (the auction sign is from when our borrower purchased it.)
This feels as if it will be the hardest of the three sites to resell as is - the cost of demolition will be significant.
Not in this loan...well lets say I didnt choose to be...but thanks for bothering with this post
As discussed on other threads, it is really not appropriate to trouble the administrators with questions on individual loans at this stage. Their initial proposals document (due in 8 weeks time) will set out the framework for how things will unfold over the next few years. Some of the loans may well pay back in the next 8 weeks, but that will be because the borrowers want to redeem them, and have already set the wheels in motion. This loan may be one such, it may not.
As the first Creditors Meeting approaches, almost 5 months on, we can surely expect at least have a two line summary for each major loan to tell us what (if anything) has happened.