IMG Grading System (Many Merged Threads)

[RP London]

4 minutes ago, dboy said:

Correct.

But you think IMG will take their word for it on a score sheet?

Has anyone got a link to the news that this valuation is actually a thing? I've only seen it mentioned on this thread.

so why say its for a loan and then not believe the valuation. if its done for a loan then it will be independent and can then be added to the accounts as an independent "correct" valuation. It seems you agree with me which then should (by all logic) mean you disagree with the majority of the posts you have previously made where you cannot comprehend where the value has come from....

 

[JohnM]

Maybe Angela Rayner is going to make them build on it at 13/14 houses per acre. 

[dboy]

3 minutes ago, Click said:

So you have no idea on the size of the land and are just going on what some "Cas aficionado" said.......

But you want people to believe you know what the real value is? 

No, not based on that.

The detail is in the Planning Application and I've also previously seen the ground area measured on Google Earth.

I'll have another look at both those.

[Click]

Just now, dboy said:

Are you seriously going to compare land in Sheffield to land in CAS!!??

In a flood plain, with no PP, backing onto a railway, with limited vehicular access, opposite a defunct chemical works. Did I mention it's in Cas?

Have you ever been to Cas??

We get it, you don't like Castleford mate.

[LeeF]

Just now, dboy said:

Are you seriously going to compare land in Sheffield to land in CAS!!??

In a flood plain, with no PP, backing onto a railway, with limited vehicular access, opposite a defunct chemical works. Did I mention it's in Cas?

Have you ever been to Cas??

Which will all have been factored into the valuation produced by the valuers which the audit firm will have had sight of. 
 

From a quick look at the accounts there hasn’t been any increase in bank borrowings over the year in question 

[Tommygilf]

Just now, dboy said:

That's more than double the size I was told by a Cas aficionado - they said 4 acres.

10 acres is just under 9 football fields in area - I don't see that on the map.

The value of the land isn't worked out in the way you suggest, and it would need PP in place to be valued with a residential value. Let's not forget, there is no suggestion at all that Cas have any intention to leave WR.

If you go right back to when this new investor came in to Cas, some, not me I'd never heard of him, suggested he was after the land for development and nothing more. He is a property speculator.

 

Look at the accounts, 2nd doc down new registered charge on land described as just less than 10 Acres. Then measure the plot of the freehold on Google maps if you are still not convinced, it's just under 10 acres. Your afficionado must only be counting the stadium itself perhaps, not the full title? I wouldn't have gone barrelling in without checking though, which is why I did the research suggested.

The Land value of course will include potential development value, it's not being valued with PP too, which if it was it would be higher (those house prices were very very modest). If a potential development is worth £12-15 million, then an £8 million valuation is very reasonable.

Without seeing the title it's impossible to know but it could also be that the land has no restrictive covenants attached to it, giving greater freedom for a developer.

[Tommygilf]

1 minute ago, Click said:

We get it, you don't like Castleford mate.

Mask dropped there didn't it.

[Click]

Just now, dboy said:

No, not based on that.

The detail is in the Planning Application and I've also previously seen the ground area measured on Google Earth.

I'll have another look at both those.

Now you apparently do know the size of the land? Why did you say something else before then?

[dboy]

1 minute ago, RP London said:

so why say its for a loan and then not believe the valuation. if its done for a loan then it will be independent and can then be added to the accounts as an independent "correct" valuation. It seems you agree with me which then should (by all logic) mean you disagree with the majority of the posts you have previously made where you cannot comprehend where the value has come from....

 

I don't believe THAT land can be realistically valued at £8m - it's nonsense.

I have no idea why (or even if it's true).

I would imagine under either scenario, either a bank or IMG, will take a realistic view.

Still waiting to see wherever else this news has been reported, apart from on here.

[RP London]

Just now, dboy said:

Are you seriously going to compare land in Sheffield to land in CAS!!??

In a flood plain, with no PP, backing onto a railway, with limited vehicular access, opposite a defunct chemical works. Did I mention it's in Cas?

Have you ever been to Cas??

oooh.. condescension excellent.. 

You seen our factory and the land and the location and the state of repair??.. no thought not.. it has no PP, it is built over the top of a river (which has never flooded in over 100 years of being here but the council handily sent out a letter saying "it might" which ramped up our insurance!), with a railway over the road (why we are based here) surrounded by houses/other units limiting the potential expansion of the site...  as I say I am not saying it is definitely worth that but that "I can see where they are coming from" 

probably worth more than "I hate cas therefore".. as an opinion.. but hey ho.

[LeeF]

Interestingly or not the site appears to be just under 10 acres according to the charge created in January of this year

https://s3.eu-west-2.amazonaws.com/document-api-images-live.ch.gov.uk/docs/80LUz7rKmdVwbP76eGn5aBMsjOQ-p-nyhG-RDXKAIsY/application-pdf?X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Credential=ASIAWRGBDBV3OZO227JE%2F20240829%2Feu-west-2%2Fs3%2Faws4_request&X-Amz-Date=20240829T123645Z&X-Amz-Expires=60&X-Amz-Security-Token=IQoJb3JpZ2luX2VjECsaCWV1LXdlc3QtMiJGMEQCIGEYhzBPWXwE5ZHPgtyTKV5G49W7xUYbxJ8%2FVeVr7WZOAiAVftPjy%2FERY1lL20XpYUXN9tmd5GN6PFtYB0tXfijziyq6BQhEEAUaDDQ0OTIyOTAzMjgyMiIMqLweCea8Vve%2F%2BPvmKpcFRhoipy3I616eClPWFaE0Av13zOoRpdHLSMXn1yo9wkWH9Wzt%2FDdk0yLuxUAhGlHhHDmLBoWQWZvSty1cRTkkZPJlw%2FF6XXwpdm3mJ4Fhz2TvWU0uqLXw53Q89f8qfS2QE5dEN4KEUfQnpoNtKDvAChGuaUJC5NfXBgQOl5sWclMT841a16huRQLS4MB7A26FUt2qIXTX2JdvAIrLUY%2BRCpbEC9o5hvBsJyNyrANbzToxJlrjJ9RhSp2wbt0UTDSDjcfEBDqjeYdO9rWeyyRjXU9tog35U6G3BbTIy2eK4kuleNu8Awri5ICxdmR1%2BTP6wXOwWUK1b2Kb2j9zeLyUoLgmK3%2FIzckfX3txmzl22IrkRNeFaMLHDgw2J6ltzjWg77yQKQHTNmpt1JSXIYrE5fyGfmBeuAZT5JpZ8mcEWucTSV3%2FCHYjpV7cX1Et9AylMetGGudHobnH2Erj6fQ11vRQiwzR4g8KkY9BLAKX70mEF0EWsdwWE0Y8SzCIGpeYeKLbvGXSFr6FN0nnw%2B8iVioEgiqDezlO4nIM3%2F94FETRQ5Kzx4i90gKekfPzVsEHSlZDGzEBfjA2Jne6IBcIbdm0W1At63uzWVESTLQCdqlSx6VoaLeA1d29UJtsscO2Uu8fULPyEHYkplZD4kE0B9v96LtC%2BIogstQzzrLeGezhdO8eNcgR6kuC0dtkWsC0SeJdd1YHerOa1D2wFxOtEGBcpA7JjFKV42McBOSEbVNo4fGJ4xtSx85Lt4KjkvprCYeuyKyAE77OAbFL3pJtV%2BDVx29A8HAx0MCDeXclewKkeVjPFQJgjPlAc07%2FgHaK7eeg3Toxd37xd%2B6xERq9a4WmvNZUPdtYW5QggISx%2FH3IW%2B%2B8IRjSMMqnwbYGOrIBX5n8reXjqfuRzLr1lrKZeBf3%2BBIuTdqG2gsyjyh%2FwTFQCaM9R0L5aAAsd%2FFwFhSpFIhfzyT2emfgYEP1B7xc%2B1Sl5kQfOiBuS35xBzIxgnotQgxKpJwqu9svclyYvxajjtiQlcrFZRi7tupaNPwYsm0rnD2shZ9PVP9PiQ5H%2F1yCIx8eWK4zvU3riAQeqlp8H79XEaVdNdf089gu9lwiN5e%2BI43NXzZF7EyIuC4ED7XoIQ%3D%3D&X-Amz-SignedHeaders=host&response-content-disposition=inline%3Bfilename%3D"00214373_mr01_2024-02-01.pdf"&X-Amz-Signature=9ea3b67e26613c3d6d3108f7686cb06d4765ffd9c903b61d314a8fc7171e4737

[LeeF]

duplicate 

Edited August 29, 2024 by LeeF

[RP London]

4 minutes ago, dboy said:

I don't believe THAT land can be realistically valued at £8m - it's nonsense.

I have no idea why (or even if it's true).

I would imagine under either scenario, either a bank or IMG, will take a realistic view.

Still waiting to see wherever else this news has been reported, apart from on here.

so you just dont "believe" it... excellent thats good then, based on....... 

I mean if you want to compare it to previous industrial/non residential land sales in the last 5 years in the area then that would be the best place to start a "its not worth that argument"... 

Edited August 29, 2024 by RP London

[LeeF]

3 minutes ago, dboy said:

I don't believe THAT land can be realistically valued at £8m - it's nonsense.

I have no idea why (or even if it's true).

I would imagine under either scenario, either a bank or IMG, will take a realistic view.

Still waiting to see wherever else this news has been reported, apart from on here.

So you, a bank and IMG know more about valuations than a qualified valuer who has conducted a formal valuation that has been seen by the independent audit firm 

[Damien]

5 minutes ago, Tommygilf said:

Mask dropped there didn't it.

You must have missed the Castleford Stadium thread

[LeeF]

I think reporting it in your accounts that you register at Companies House and which are a public document constitutes reporting the information elsewhere?

[dboy]

2 minutes ago, Click said:

Now you apparently do know the size of the land? Why did you say something else before then?

I've looked at it before, but it wasn't committed to memory.

It's actually 9.1 acres (give or take).

[Click]

Just now, dboy said:

I've looked at it before, but it wasn't committed to memory.

It's actually 9.1 acres (give or take).

Does that mean you'll just admit you undervalued Castlefords land and we can move along with our days?

[LeeF]

1 minute ago, dboy said:

I've looked at it before, but it wasn't committed to memory.

It's actually 9.1 acres (give or take).

Slightly less than 10 acres is the stated size according to the documents on Companies House which is definitely more than 9.1 acres (give or take)

[dboy]

4 minutes ago, RP London said:

so you just dont "believe" it... excellent thats good then, based on....... 

I mean if you want to compare it to previous industrial/non residential land sales in the last 5 years in the area then that would be the best place to start a "its not worth that argument"... 

Yeah, it's a forum for discussion, for opinions.

I don't believe that valuation, as stated.

Equally, as stated, I'm sure that whatever the truth, the powers that be will know what they are doing.

They may well have no issues with it at all - no issue.

[Damien]

2 minutes ago, dboy said:

I've looked at it before, but it wasn't committed to memory.

It's actually 9.1 acres (give or take).

So 3 times the size more than your original claim of 3 acres. Maybe, just maybe  its also worth 3 times more than you originally thought.

[Dave T]

2 hours ago, RP London said:

There are some great armchair surveyors on here or people who have watched far too much "selling sunset"!

The chartered surveyors are experts, if they have inflated this they are taking a massive massive risk with their own licence to operate as it is in the corporate accounts which will impact on tax, loan capabilities, company value (therefore corporate gains etc if something did get sold)... There is almost always some wiggle room on valuations as in the end a business/house/asset is only worth what someone is prepared to pay for it so you are normally given a range to use dependent on the purpose so it isnt going to be that far off..  

However, if they have it seems short sighted as it wouldnt take that long to get and independent surveyor to look at it and say yes or no to "is that in the ball park"

Yes, we've all seen Homes Under the Hammer too. 

[dboy]

Just now, LeeF said:

Slightly less than 10 acres is the stated size according to the documents on Companies House which is definitely more than 9.1 acres (give or take)

Odd comment.

I just re-measured on a mapping tool I have. I didn't follow every inch of the fractile boundaries. 

[dboy]

1 minute ago, Damien said:

So 3 times the size more than your original claim of 3 acres. Maybe, just maybe  its also worth 3 times more than you originally thought.

Yes, I would imagine it's worth 3 times more than I thought originally.

Hint - it's still not worth £800k per acre.

[Click]

Just now, dboy said:

Yes, I would imagine it's worth 3 times more than I thought originally.

Hint - it's still not worth £800k per acre.

What business are you in dboy?