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TheCountOfNowhere

Does Anyone Remember What Barclays Bank Did In 2007 ?

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I remember seeing Barclays bank ( or their landlords ) sell off several properties in 2007 just before the crash.

It's like someone knew what was coming.

http://www.rightmove.co.uk/commercial-property-for-sale/property-50561900.html

Commercial property for sale
Barclays - Oldbury Church Square, Oldbury, B69
Guide Price
£349,500
And the best bit.....
09/06/2015
Price changed: Guide Price £359,500 £349,500
08/06/2015
Price changed: Guide Price £399,500 £359,500
11/03/2015
Status changed: from 'Commercial, null' to 'Commercial'
25/02/2015
Initial entry found.
Someone wants rid.
Now, I wonder why ?

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I remember seeing Barclays bank ( or their landlords ) sell off several properties in 2007 just before the crash.

It's like someone knew what was coming.

http://www.rightmove.co.uk/commercial-property-for-sale/property-50561900.html

Commercial property for sale
Barclays - Oldbury Church Square, Oldbury, B69
Guide Price
£349,500
And the best bit.....
09/06/2015
Price changed: Guide Price £359,500 £349,500
08/06/2015
Price changed: Guide Price £399,500 £359,500
11/03/2015
Status changed: from 'Commercial, null' to 'Commercial'
25/02/2015
Initial entry found.
Someone wants rid.
Now, I wonder why ?

The problem with Greece is finally resolved....

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that's nothing compared to HSBC

In April 2007 it sold its HQ in Canary Wharf to Metrovacesa for £1.09bn, of which HSBC itself lent the Buyer £810m on a bridging loan

When that loan couldn't be refinanced by the Buyer at the end of its term in Dec 2008, HSBC helped it out by buying the building back - and declaring a £252m profit from the transaction in its accounts!

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The UK is hollowing out, like any country will - when your manufacturing base diminished a long time ago. You can go through a ******** phase of unproductive assets-as wealth for only so long.

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PB never seems to work for me on com-prop listings.

Investment property with guaranteed rents coming in. This freehold property has a Blue-chip plc bank as a tenant on the ground Floor. The landlord enjoys a 20-year lease operation from December 2007 with 5-year rental review. This should make this a sound investment further income possible.

http://www.wegeoo.com/property/sale/b69-oldbury/rm-50561900

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that's nothing compared to HSBC

In April 2007 it sold its HQ in Canary Wharf to Metrovacesa for £1.09bn, of which HSBC itself lent the Buyer £810m on a bridging loan

When that loan couldn't be refinanced by the Buyer at the end of its term in Dec 2008, HSBC helped it out by buying the building back - and declaring a £252m profit from the transaction in its accounts!

Well that is just smart commercial business? Lending money to idiots with a good security.....and then getting it back cheaper than they paid for it. Like selling 400 units of gubbins to a rival firm for XX, when you know you'll be able to buy them back for X when the profligate fools go belly up...

Oh, wait, that's what;s going to happen to buckets of BTL too....!

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Oh look....another one:

http://www.rightmove.co.uk/commercial-property-for-sale/property-51775370.html

Aggressive cutting of print by bank or bank landlord.....makes you wonder if the know something we don't....they called it right in 2007 with their sell off IIRC....
Maybe it's the people who bought in 2007 trying to offload now the market has picked up.....
18/06/2015
Price changed: from '£479,950' to '£379,500'
29/05/2015
Price changed: from '£495,000' to '£479,950'
21/04/2015
Initial entry found.
Edited by TheCountOfNowhere

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