What comes first

[Returnofrros]

Planning permission, new manager or sense of realism on dab mad.

Cud be a long race

[Deeranged]

Planning permission, new manager or sense of realism on dab mad.

Cud be a long race

Well the third one aint happening any time soon.

Mind you, neither are the first or second.

[islaydarkblue]

Planning permission, new manager or sense of realism on dab mad.

Cud be a long race

New manager.
In my opinion there is not much likelihood of a planning application being submitted considering Dark Blue Property Holdings Limited have borrowed money from an Isle of Man based financial company putting the whole of the Campy Nou site up as collateral for the loan.

[BCram]

New manager.
In my opinion there is not much likelihood of a planning application being submitted considering Dark Blue Property Holdings Limited have borrowed money from an Isle of Man based financial company putting the whole of the Campy Nou site up as collateral for the loan.

Islay is there any indication of the size of the loan compared with the asset value?

[BCram]

Planning permission, new manager or sense of realism on dab mad.

Cud be a long race

New manager, other two are not going to happen, imo.

[islaydarkblue]

Islay is there any indication of the size of the loan compared with the asset value?

According to the SohoGreen website up to between 60% and 70% of the value of the site can be borrowed.
However the site must be independently valued by a member of RICS.
If the site was valued at £1 million then between £600k and a maximum of £700k could be borrowed.
The interest rates quoted are between 0.75% and 2% per month which equates to between 9% and 24% per annum.
A loan of £700k @ 9% per annum equates to a repayment of £63k per annum in interest alone while the maximum 24% would result in interest of £168k being paid per annum in addition to the repayment of the original £700k.

[BCram]

According to the SohoGreen website up to between 60% and 70% of the value of the site can be borrowed.
However the site must be independently valued by a member of RICS.
If the site was valued at £1 million then between £600k and a maximum of £700k could be borrowed.
The interest rates quoted are between 0.75% and 2% per month which equates to between 9% and 24% per annum.
A loan of £700k @ 9% per annum equates to a repayment of £63k per annum in interest alone while the maximum 24% would result in interest of £168k being paid per annum in addition to the repayment of the original £700k.

What would the borrowers be using the funds for? I don't know how much planning consent costs. Is there any sort of industry benchmarks or guidance? Suppose a project cost £5m, is there an industry wide price list that says planning consent costs are a percentage of the capital cost? Say 0.5% which would work out at £25k?

[islaydarkblue]

What would the borrowers be using the funds for? I don't know how much planning consent costs. Is there any sort of industry benchmarks or guidance? Suppose a project cost £5m, is there an industry wide price list that says planning consent costs are a percentage of the capital cost? Say 0.5% which would work out at £25k?

I do not know what planning permission for a large planning application would cost but it could be as much as £1 million.
Your local Dundee City Councillor should know as every Dundee City Councillor is a member of the Dundee City Council planning committee.
If this borrowing was to pay for the cost of submitting a full large panning application you would assume that they would have submitted their large planning application to Dundee City Council at the end of November 2022 as borrowing this money costs between 0.75% and 2% per month which soon mounts up.

[BCram]

I do not know what planning permission for a large planning application would cost but it could be as much as £1 million.
Your local Dundee City Councillor should know as every Dundee City Councillor is a member of the Dundee City Council planning committee.
If this borrowing was to pay for the cost of submitting a full large panning application you would assume that they would have submitted their large planning application to Dundee City Council at the end of November 2022 as borrowing this money costs between 0.75% and 2% per month which soon mounts up.

You would imagine that borrowing money secured against the land you are proposing to develop would be because you wanted funds to help finance your development.

[islaydarkblue]

You would imagine that borrowing money secured against the land you are proposing to develop would be because you wanted funds to help finance your development.

You would need to ask John Nelms that question.