Manchester's Student Buildings.

[Irish Blood English Heart]

The same with Southern Cross I guess, just far too much over expansion via debt which then becomes unaffordable. The same model that you see in everything from PubCo's to Buy to Lets and a damning indictment on the British economic system.

[Farsight]

A damning indictment of British banks, more like. See this post by jrb where he gives reportage of an interest rate swap:

"Stuart Wall, who owned 100% of Manchester-based Opal, alleges that RBS - one of more than a dozen lenders owed more than £900m - has driven the business into insolvency...

...Mr Wall told TheBusinessDesk.com: "We built a group valued at more than £1bn and have never missed an interest payment in 25 years. I have to say that the last few months has left me feeling that there is something rotten in the commercial world."

[urbnist]

Rotten - certainly, but the counter argument is that big firms like Opal have the resources to carry out proper due diligence on contracts of this nature which is why they will most likely be excluded from any compensation scheme. Whether that is a reasonable argument is debatable.

[Schooner]

Originally Posted by Farsight

A damning indictment of British banks, more like. See this post by jrb where he gives reportage of an interest rate swap:

"Stuart Wall, who owned 100% of Manchester-based Opal, alleges that RBS - one of more than a dozen lenders owed more than £900m - has driven the business into insolvency...

...Mr Wall told TheBusinessDesk.com: "We built a group valued at more than £1bn and have never missed an interest payment in 25 years. I have to say that the last few months has left me feeling that there is something rotten in the commercial world."

One must remember,that bankers are similar to politicians and councillors,...totally out of touch,....experienced in nothing at all,....and payed way in excess of their worth, oh and extremely selfish (although I have to say,that some councillors dont fall in to this category.

[Slow Burn]

Here's some pics from today of Ducie Court, a new 614 bedroom student development on Denmark Road next to Whitworth Park.

[Slow Burn]

Phase 2 also underway next door which should be completed for September 2013. That's a lot of new rooms for this area.

[iheartthenew]

Don't like the not-quite-balconies effect of the brise soleil on corner apartments of Ducie Ct. They look like they could be too tempting to drunken students.

[AJD1984]

http://www.placenorthwest.co.uk/news...six-sites.html

Student newcomer acquires six sites
26 Apr 2013, 10:22

Njoy Student Living, advised by accountant Cowgill Holloway, has completed more than £7m of acquisitions in the Manchester student accommodation sector.
Njoy was founded in 2012 to focus on quality low cost accommodation within easy reach of Manchester's universities.

Cowgill Holloway has been working alongside the business for the last year helping it to expand its student accommodation property portfolio. During this period, Njoy added around 300 beds across six sites in Manchester, including Carfax Court, Langdale Hall, Daisy Bank Road, Hathersage Road Nayburn Street and Welby Street.

David Rainford, property finance director at Cowgill Holloway, and a former Bank of Ireland director, said: "We have worked hard to source competitive finance options and have liaised closely with the bank's valuation and legal teams to ensure the deals completed."

Richard Tkaczyk, director of Njoy said: "The property industry has been hit harder than most by the challenging economic conditions throughout the world but this new service provided by Cowgills' has enabled us to raise finances with greater ease and expediency. The service we received was absolutely first class."

Andrew