Lend us a quid (or two, or a million, or two)
Wednesday, March 4, 2009 at 08:34AM
Little Green Street

If you're visiting because you're looking at investing in, er bailing out, er re-gearing finance on the site, hello!

Our intelligence reports are that there's a good degree of desperation out there on the part of the heavily-mortgaged owners. A great deal can be done. Hold out for at least two-thirds of the equity - you'll get it!

Why are we encouraging this? Well, a majority shareholder might be better behaved than the floundering wannabe developers who've fumbled this potentially proportionate development for the past eight years.

The people who live in, use and otherwise respect the street would be more than happy if a new owner put some thought into the site's use. They might even get some active cooperation!

If not, well read on. There's a long and bloody history here and if anyone thinks its an easy development, start with two site visits - this one in depth and a little bit of scrub inconveniently and expensively located somewhere that no-one will ever realistically pay the asking prices necessary to make a turn...

 

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