Latest Fossets Farm developments

[Sherif H]

Could be the beginning of the end for Southend United if true.

Yet I still see no active signs from any fan groups of positive fallback action (i.e. is there a contingency to deal with a potential worst case scenario of liquidation?)

 

[Jai]

Yet I still see no active signs from any fan groups of positive fallback action (i.e. is there a contingency to deal with a potential worst case scenario of liquidation?)

Gonna be honest with you the fanzine coffers barely cover the next print run. Not sure we'll be funding the millions of losses :smile:

 

[Blues Heaven]

If the FF stadium is now dead, what will happen to PB shares?? :thumbdown:

Personally if this is true, I can on see one of 3 things happening now;

1) A new investor/partner miraculously stepping in.
2) RM giving up the dream, and selling the club (& debts) to claw back as much much money as possible
3) RM thinking he may have another chance in a couple years when the brexit downturn is over, and we live on breadcrumbs till then - and maybe longer.

Option 2 seems the most sensible, but again the question would be, what would RM's price be & who would pay it?
But sensible is not really how we do things, so we may end up with option 3.

also in case anyone feels like asking BL directly (unlikely to get a direct response though):
http://www.britishland.com/contacts/development-team

If a very big company like BL have pulled out and believe it is not viable I very much doubt another one would think differently.

I doubt very much someone else will want or have the desired wealth to take over a club which is hugely in debt and losing large amounts of money monthly with little likelihood of that changing.

Think we are stuck with RM who will have to come up with a realistic alternative.

I am surprised of the apparent lack of posts on this subject as if true has the ability to threaten our entire existence....

 

[Fairport]

It will be very interesting to see if this rumour re BL is confirmed. The commercial property market is apparently in the doldrums and didn't BL share price plummet after Brexit? If BL have pulled out then this is serious stuff for all of us, far more worrying than not having a decent centre back! Maybe some really bad news is on the horizon unless Ron denies these rumours, not that many would believe him though.

 

[rigsby]

If the rumour is true, then the council could give permission for residential instead of commercial. They have already agreed to flats as part of the stadium and with real land problem in our town this would help hit government targets.

So Ron sells large chunk of land to residential developer and uses money to build stadium. Sells the RH site to same or other developer before we even leave and finishes the fourth side.

Result.... New stadium, lots of new and affordable houses that meet government targets, High street can't block the scheme because no out of town shopping......What could possibly go wRONg

 

[Supa Shrimpa]

If the rumour is true, then the council could give permission for residential instead of commercial. They have already agreed to flats as part of the stadium and with real land problem in our town this would help hit government targets.

So Ron sells large chunk of land to residential developer and uses money to build stadium. Sells the RH site to same or other developer before we even leave and finishes the fourth side.

Result.... New stadium, lots of new and affordable houses that meet government targets, High street can't block the scheme because no out of town shopping......What could possibly go wRONg

I take your point, but what if the stadium isn't built ? Said developer would be stuck with a piece of land that they can't build on ? I reckon each of the Dragons would say "I'm Out".

 

[rigsby]

I take your point, but what if the stadium isn't built ? Said developer would be stuck with a piece of land that they can't build on ? I'm reckon each of the Dragons would say "I'm Out".

True, but we could have safe guards like three sides have to be built so that it can be used and developer could evict us from RH. Which is basically what the scheme is at the moment. I just saying swap the cinema and shops for houses and flats.

The simple fact is that, this project could be achieved if all parties rowed in the same direction.

 

[Sherif H]

If the rumour is true, then the council could give permission for residential instead of commercial. They have already agreed to flats as part of the stadium and with real land problem in our town this would help hit government targets.

So Ron sells large chunk of land to residential developer and uses money to build stadium. Sells the RH site to same or other developer before we even leave and finishes the fourth side.

Result.... New stadium, lots of new and affordable houses that meet government targets, High street can't block the scheme because no out of town shopping......What could possibly go wRONg

Developers don't purchase sites with the aim of delivering affordable housing - they will do everything in their power to avoid that very scenario (which is why Section 106 agremeents exist), so there would be little benefit to the town in that regard.
If the Council did impose a certain level of social housing for that site, it would almost certainly drive most decent developers away - in addition, he isn't going to bag the £30-£40m it is going to cost to build the stadium from the sale of this land...

 

[Tinks]

This is all very messy now and looks like we are staring out into the wilderness.

 

[Chocolardo]

Developers don't purchase sites with the aim of delivering affordable housing - they will do everything in their power to avoid that very scenario (which is why Section 106 agremeents exist), so there would be little benefit to the town in that regard.
If the Council did impose a certain level of social housing for that site, it would almost certainly drive most decent developers away - in addition, he isn't going to bag the £30-£40m it is going to cost to build the stadium from the sale of this land...

Government targets are not just for affordable houses it is for new housing to be built, therefore any news homes would help meet targets. A nice S106 payment to contribute to an affordable scheme elsewhere would benefit the area very well and there would almost certainly be a few shared ownership properties on any new scheme which would also benefit many people.

 

[rigsby]

Developers don't purchase sites with the aim of delivering affordable housing - they will do everything in their power to avoid that very scenario (which is why Section 106 agremeents exist), so there would be little benefit to the town in that regard.
If the Council did impose a certain level of social housing for that site, it would almost certainly drive most decent developers away - in addition, he isn't going to bag the £30-£40m it is going to cost to build the stadium from the sale of this land...

Developers don't have much choice in the brave new world. The new London Mayor is considering 50% affordable on all developments.

Where you have your affordable, FF or RH and how many isn't really the issue. The point I was making is that if the retail and cinema fall through for what ever reason, the club can be saved by allowing residential development.

The council see high rise as the way forward due to our towns chronic land shortage, which is why they have allowed flats above the hotel in the current scheme. If they agreed to more high rise at FF then that would greatly increase the value of the land.

I know that not might suit the 'never gonna happen' boys but it is possible and could save the day.

 

[Blues Heaven]

I don't profess to know the pro's and con's of the FF scheme but surely if housing was more viable than the current proposal we would if it was to be allowed by the council gone done that route. Would housing provide sufficient funding for the new stadium and complex? Would it provide a continuous earning potential that FF apparently offered?

This is hypothetical until we find out if BL have withdrawn and I doubt that the club will be forthcoming with that information for a while. It has gone e trembly quiet though.

The Seaways development has always been a threat to FF and they plan to apply for planning before the end of the year.

Without FF or a similar or another major development our future is really in doubt.

 

[Jai]

I am surprised of the apparent lack of posts on this subject as if true has the ability to threaten our entire existence....

It's too long term for anyone to feel urgency about it. People will bury their heads in the sand and hope for the best, focus on stuff on the pitch. It's like dying. We all know we're going to die at some point but we don't spend all day worrying about when.

 

[RobM]

It's too long term for anyone to feel urgency about it. People will bury their heads in the sand and hope for the best, focus on stuff on the pitch. It's like dying. We all know we're going to die at some point but we don't spend all day worrying about when.

..as you get older, you do!

 

[Razam]

I am surprised of the apparent lack of posts on this subject as if true has the ability to threaten our entire existence....

If BL have pulled out then this is serious stuff for all of us, far more worrying than not having a decent centre back! Maybe some really bad news is on the horizon unless Ron denies these rumours, not that many would believe him though.

Agreed - when it's confirmed BL have pulled out (or at least some sort of strong 'official' hint), this discussion should be moved to Chit-Chat. I don't think as many people read the Finance section of the forum.

 

[McNasty]

Agreed - when it's confirmed BL have pulled out (or at least some sort of strong 'official' hint), this discussion should be moved to Chit-Chat. I don't think as many people read the Finance section of the forum.

I am sure that when there is no future it will be moved. Until then all we have is hope. (and a separate forum)

 

[Supa Shrimpa]

Developers don't purchase sites with the aim of delivering affordable housing - they will do everything in their power to avoid that very scenario (which is why Section 106 agremeents exist), so there would be little benefit to the town in that regard.
If the Council did impose a certain level of social housing for that site, it would almost certainly drive most decent developers away - in addition, he isn't going to bag the £30-£40m it is going to cost to build the stadium from the sale of this land...

I'm surprised you suggest developers wouldn't be interested, as Upton Park was sold to Galliard Homes, who I believe specialise in affordable housing. Perhaps it's trying to get planning for residential on RH and FF, that is the issue here ?

 

[jamesmut2000]

I don't profess to know the pro's and con's of the FF scheme but surely if housing was more viable than the current proposal we would if it was to be allowed by the council gone done that route. Would housing provide sufficient funding for the new stadium and complex? Would it provide a continuous earning potential that FF apparently offered?

This is hypothetical until we find out if BL have withdrawn and I doubt that the club will be forthcoming with that information for a while. It has gone e trembly quiet though.

The Seaways development has always been a threat to FF and they plan to apply for planning before the end of the year.

Without FF or a similar or another major development our future is really in doubt.

Never heard anyone say that before......:smile:

 

[Supa Shrimpa]

Never heard anyone say that before......:smile:

I heard someone say Spring once ? :blush:

 

[Floval Flyer]

Just read the last 20 or so posts on this thread :-( wow ! That's rather depressing... Think I'll check back on the transfer latest on Chit Chat to cheer myself up !