Dj 1

[copper crutch]

Just seen a shiney new black Aston Martin with the number plate DJ 1 Parked outside Alexanders on Dundas Street, the property EA Business must be thriving again in Edinburgh. :angry:

[Jie Bie]

Just seen a shiney new black Aston Martin with the number plate DJ 1 Parked outside Alexanders on Dundas Street, the property EA Business must be thriving again in Edinburgh. :angry:

Derek Johnstone?

[Bjørn]

Don Juan

[copper crutch]

Don Juan

The liquidator obviously could not get there hands on thecash hived away in the off shore bank accounts. property development is obviously a very profitable business if you can afford to drive a brand new DB9.

[Bjørn]

In Autumn last year I observed that DJ's strategy appeared to be to put DJ/Heritors properties onto the sale market when tenants turned over. Then there was the insolvency thing and the Administrators took over.

Properties which were owned by one of the shell "companies" in the British Virgin Islands, which appear to be beyond reach for the Administrator, were taken off the market.

I took a look at a couple of the "New Town" ones a few days ago and they're both lying fallow. No For Sale or To Let sign, but no current tenant either. He (and his buddy, CB) appear to be playing games with the Administrator. Why else would they leave two properties, each of which is worth half a million, lying furnished but unoccupied and unadvertised?

[copper crutch]

In Autumn last year I observed that DJ's strategy appeared to be to put DJ/Heritors properties onto the sale market when tenants turned over. Then there was the insolvency thing and the Administrators took over.

Properties which were owned by one of the shell "companies" in the British Virgin Islands, which appear to be beyond reach for the Administrator, were taken off the market.

I took a look at a couple of the "New Town" ones a few days ago and they're both lying fallow. No For Sale or To Let sign, but no current tenant either. He (and his buddy, CB) appear to be playing games with the Administrator. Why else would they leave two properties, each of which is worth half a million, lying furnished but unoccupied and unadvertised?

probably in the course of re financing them, are these the ones with the trinkets in the window to make them look occupied ?

I Suspect these 2 were hived off and are under the radar, he may have been clever enough to play around with the old line of finance to wipe out the loans on these properties, and is or has re mortgaged them, hence the new motor.

All skulduggery but plausable. :angry:

Edited April 26, 2009 by thecrutchster

[ccc]

I imagine a lot of the people driving DB9's in the UK today have negative wealth.

Still - they have a nice car to show for it. Debt is wealth. Debt is wealth.

[Bjørn]

probably in the course of re financing them

These ones were prolly fully financed by OPM in the first place, I'd guess. One of 'em was bought by Charlie Bee in the first flush of his post-Honkers exuberance when he supposedly had a "warchest" of £50M of OPM from suckers in Honkers and the hind-tit of Malaya. The other, next door, seems to have been bought at the vinegar-stroke of loony bubbledom on a similar basis.

Strange that CB/DJ can make money while those two unsold and unoccupied properties, which are prolly worth 'bout a mill between the pair, moulder in a declining market which, according to Zoopla at least, seems to be declining at a rate of somewhere from -9.7% per year to -7.0% per half-year to -4.6% per quarter.

One suspects that the sucker "investors" in the BTL scheme are paying very dearly for that Aston Martin.

I, for one, will not weep for them.