Hi,

Just been taking a look at this and looks another good deal, and tempted to purchase another one. I have one question for PS:

In the recent PS analysis of this development in Jan 08, it stated an approx growth of just 3% since the first launch.

In the 2nd launch, taking a quick look at comparable units, lets use unit 10:
61.40m, 7.4m = 68.8m Floor 2: Cost: £84,052.

Now compare to Golden Brook 1: Unit 41, and same measurements:
61.4m, 7.4m = 68.8m. Cost: £59,089.
This is a 40+% increase in the next phase.

Is this right?? Are we comparing like with like?? I could not find a reference to any increase in the report.

Regards
Chris.

Hi cp

I wouldnt say this was fact but:

The 3% figure I believe is based on the developer's av. price / sq m in phase 1 only.

The phase 2 prices are indicative. Again, if you take development wide averages, you don't get the best figure, just indicator.

What you have done is likely to be MUCH more close to reality.

I'm interested in this deal but may be moving abroad soon and not sure if I will still have the steady secure income i've got now. I'm thinking of the problems securing a mortgage in December 2009. Is it possible to secure a mortgage based on my boyfriends wage, or do you have to buy it in joint names initially? One of us will have a decent income, but depending on where were living i don't know if it'll be me! Any advice appreciated.

Chris

I've been looking at this too. Unless I'm going mad (and given all the numbers I've been going through I may just be heading in that direction) there is no unit 41 in the golden brook purchase price spreadsheet, it stops at 40.

Whilst going through all the figures of the two developments I may have come up with something rather worrying for Golden brook 1 buyers.

Golden Brook 2.

Av. Discounted ex VAT: 2,316,000
Av. Int. SQM: 63.44
My estimated cost per SQM:36,507 ex VAT (39,793 inc VAT 9%)
Discounted price as listed in the investment report: 36,506
Colliers valuation: 43,176

In this case all of the figure appear to add up normally. So far so good, but...


Golden Brook 1
Av. Discounted PS price ex VAT: 1,741,735
Av. Internal SQM 52.35
My estimated cost per SQM: 33,271 ex VAT (34,934 inc VAT 5%)
Price in Investment report: 31,000 SQM
Colliers valuation: 34,000
Your Av. Purchase Price (property performance update): 34,934 (inc VAT)
Original Av. List Price (property performance update): 34,934 (These two should not be the same!)

As you can see my SQM figure here agrees with the property performance update but not the figure given in the original investment report of 31,000. Using my figure there is no discount!

Also the average original list price and discounted price given on the performance update page are both stated as: 34,934 which also shows no discount!

Hopefully I'm wrong but lots of things don't add up here and given the small increase in the value of GB1 perhaps this is the reason.

Hi,

I just looked over the figures myself and it looks like there is a 12.9% increase in the CZK price per m2 including VAT. 4% of this will be accounted for by the increase in VAT from 5% to 9%.

However, there is a 31% increase in the GBP grand total price! It looks as if this is largely due to the change in the exchange rate from to from 41.5 to 34.4.

As a Golden Brook 1 buyer this is not all good news, since I've still to buy my CZK currency for 95% of the price.

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