SUFC: The Future The regeneration of Roots Hall

[Sammy Shrimper]

I think they may have borrowed more on the basis that the Agreement for Lease was completed with Southend City Council, dated 3rd March 2025. A new contract is scheduled on page 39 of the Charge Deed held at Companies House.

 

[Cricko]

I think they may have borrowed more on the basis that the Agreement for Lease is completed with Southend City Council dated 3rd March 2025. A new contract is scheduled on page 39 of the Charge Deed held at Companies House.

So are you saying since the agreement with the council this week? that they have borrowed more and the charges we are seeing are against new borrowing?

 

[Sammy Shrimper]

Possibly and yes. Or could just be refinancing.

SZ’ s in house lawyer may have a view?

 

[Firestorm]

Goodbye and good riddance to Martin Dawn PLC, by the way.
View attachment 35957

11 Mar 2025[/td][td]Order of court to wind up
This document is being processed and will be available in 10 days.

Ron has finally lost at the High Court

 

[Liam AAS]

Ocorian just like CBRE are just the security agent obviously, but it does seem that assets and charges are moving over to the development company- and the funder for Fossets is integral to that and they are part of the agreement with SBC which covers when the charges will be released (I.e. on planning).

What we don’t know is has the funder for Fossets changed of is it still the same pension fund? Could be that just that the security agent has changed.

Will we be told much? Probably not- just don’t worry, nothing to see here, all good…

They are not funders, they are referred to as "funding partners" because Jack Martin is using diplomatic language.

They are creditors and the Martins need to pay them back with the money generated from the property deal.

 

[Firestorm]

11 Mar 2025[/td][td]Order of court to wind up
This document is being processed and will be available in 10 days.

Ron has finally lost at the High Court

And no accounts published for some while ---Last accounts made up to 31 January 2020

 

[CllrDanielCowan]

So, am I correct in thinking that now this DD has been passed the next step is the actual planning permission? I realise there's potentially loads of stuff after to get the properties built but this is the main bit we need to get Roots Hall back.

Yes

 

[kentblues]

11 Mar 2025[/td][td]Order of court to wind up
This document is being processed and will be available in 10 days.

Ron has finally lost at the High Court

I suspect you will find he was happy to watch it and it’s debt slip quietly away without contesting it…

 

[Cricko]

I suspect you will find he was happy to watch it and it’s debt slip quietly away without contesting it…

He dragged it on since 2023 whilst paying his solicitors fortunes so he could move everything out of his name.

 

[kentblues]

They are not funders, they are referred to as "funding partners" because Jack Martin is using diplomatic language.

They are creditors and the Martins need to pay them back with the money generated from the property deal.

Well the charge by CBRE was on behalf of a pension fund who were also funding (supposedly) the Fossets development- I guess all funding partners are by definition creditors as whatever funds they supply they expect to be paid back..

 

[rlb999]

https://www.bbc.co.uk/news/articles/cn4m9r11xypo £12m won't go a long way - this stand cost Northampton Town over £5m and Roots Hall will be a harder site to access / work on.

 

[Holy Joe]

https://www.bbc.co.uk/news/articles/cn4m9r11xypo £12m won't go a long way - this stand cost Northampton Town over £5m and Roots Hall will be a harder site to access / work on.

And some of that cost was sunk pre 2014 when construction was probably third to half less than today's costs.

 

[Tinks]

I don’t have the foggiest of what is going on here and is all double Dutch to me - what does it mean in real simple terms? Will it have any effect on the club in going forward

 

[Yorkshire Blue]

Errrm…

Anyone able to clear this up?

Why is a charge being placed on RH by Ocorian?

Who has given what to whom, to enable this charge?

Is this one last gift from the rat and his offspring?

View attachment 35955

It’s not placed on RH but rather on one of Ron’s companies (now of course all transferred to family, in this case Jack to avoid creditors).

I note that it’s certified by a Piers McLaren. It may be coincidence but the company that wound up Martin Dawn was McLaren Construction.

 

[Liam AAS]

It’s not placed on RH but rather on one of Ron’s companies (now of course all transferred to family, in this case Jack to avoid creditors).

I note that it’s certified by a Piers McLaren. It may be coincidence but the company that wound up Martin Dawn was McLaren Construction.

 

[Medway Blue]

It’s not placed on RH but rather on one of Ron’s companies (now of course all transferred to family, in this case Jack to avoid creditors).

I note that it’s certified by a Piers McLaren. It may be coincidence but the company that wound up Martin Dawn was McLaren Construction.

It has to be secured against a physical asset as security, though. The company alone is worthless. In this case, Roots Hall is definitely one of the assets that it is secured against.

 

[kentblues]

View attachment 35960

Yes I misread the table RH is still owned by RHL not Thames Plaza

 

[damien]

Just seen this on the Beeb. Step closer to the Southend City Megadome?

Southend United stadium redevelopment moves closer as deal agreed

The development will raise funds to help Southend United redevelop their stadium.

www.bbc.co.uk

 

[Cricko]

Apparently these new charges will be lifted once FF has planning.

 

[Napster]

It has to be secured against a physical asset as security, though. The company alone is worthless. In this case, Roots Hall is definitely one of the assets that it is secured against.

I think the land RH sits on is more valuable than the old girl now.