SUFC: The Future The regeneration of Roots Hall

[Cricko]

1) those are Ron's words and therefore about trustworthy as a peado babysitter
2) lots has changed since then, they were the terms Ron laid out. Not the ones that I think were agreed with COSU.

Do you know what was has changed and now been agreed?

 

[kentblues]

Was it not said thar once the housing project was given the green light And cointracts were agreeded and signed off The Martin would hand over the keys to the hall .And the concortium will then own Southend united in full . And ron will no longer own the hall .

I think it happens on planning approval

 

[Evening Echo]

Here's a look at all the details of the long-awaited deal.

Read more on this story


Help with Echo links

 

[Mad Cyril]

I predict this will be a no go area in 10 years time.

 

[Hooly]

I don't think that COSU are paying anything for RH.

Agreed as I thought the revised agreement after the £4.5m went away was £1.

£1 for the club, £1 for the training ground & £1 for Roots Hall but with COSU taking over the exiting debts of each.

 

[Hooly]

I wonder how much money COSU have decided will be spent on the much needed, new east stand?

I'm pretty sure, again from one of his recorded interviews, that Justin mentioned £15m for the East Stand development but with the caveat that such figure was a ballpark best guesstimate not based on a fully costed proposal. I can't remember who this chat was with but I reasonably sure that's what he said.

 

[Smiffy]

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?

 

[Firestorm]

I wonder who Orcorian are acting for ...

Trying to get something out of MD before he transfers the asset.

Although I didnt think RH was owned by anything to do with MD any more , isn't it Citizen housing or one of Jack Companies, not sure this will stick

 

[Cricko]

Sent it to Justin for comment @Smiffy.

 

[Cricko]

I wonder who Orcorian are acting for ...

Trying to get something out of MD before he transfers the asset.

Although I didnt think RH was owned by anything to do with MD any more , isn't it Citizen housing or one of Jack Companies, not sure this will stick

It isn't . Jack is in charge of it, but as it is against RH LTD who are still showing assets of 27mill, isn't that against him to? RH Ltd have still got 3 outstanding charges against them.

 

[kentblues]

I wonder who Orcorian are acting for ...

Trying to get something out of MD before he transfers the asset.

Although I didnt think RH was owned by anything to do with MD any more , isn't it Citizen housing or one of Jack Companies, not sure this will stick

Thames Plaza I think now owns RH ( this is the development company for Fossets) - RHL retains ownership of some bits of land around the stadium.

CBRE had a charge over the stadium? We don’t know who the ultimate chargee is- CBRE were acting on behalf of a pension fund. Could be the security agent are as well. Or it could be someone new?

Given this involves heavily Thames Plaza I suspect it’s closely tied to the funding of Fossets and more related to the funder there just agreeing to the deal with the council.

The funder I think will release the charges over RH (and training ground) when planning is approved.

Long way of saying I don’t think there is anything negative in all this.

 

[Medway 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

I have asked Justin and Daniel Cowan what they know of it.

I would hope it means little, insomuchas any charges are supposed to be shifted over to Fossetts once building work begins there.

Even if that is the case, it's a bad look and is bound to cause some concern.

 

[Firestorm]

It isn't . Jack is in charge of it, but as it is against RH LTD who are still showing assets of 27mill, isn't that against him to? RH Ltd have still got 3 outstanding charges against them.

My Mistake , I saw it on X in a post with a Winding up order against MD and incorrectly linked the two

 

[Liam AAS]

Thames Plaza I think now owns RH ( this is the development company for Fossets) - RHL retains ownership of some bits of land around the stadium.

CBRE had a charge over the stadium? We don’t know who the ultimate chargee is- CBRE were acting on behalf of a pension fund. Could be the security agent are as well. Or it could be someone new?

Given this involves heavily Thames Plaza I suspect it’s closely tied to the funding of Fossets and more related to the funder there just agreeing to the deal with the council.

The funder I think will release the charges over RH (and training ground) when planning is approved.

Long way of saying I don’t think there is anything negative in all this.

Ocorian are a new player in all of this. The situation is not necessarily worse, but certainly more complicated.

 

[Medway Blue]

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

 

[Cricko]

Thames Plaza I think now owns RH ( this is the development company for Fossets) - RHL retains ownership of some bits of land around the stadium.

CBRE had a charge over the stadium? We don’t know who the ultimate chargee is- CBRE were acting on behalf of a pension fund. Could be the security agent are as well. Or it could be someone new?

Given this involves heavily Thames Plaza I suspect it’s closely tied to the funding of Fossets and more related to the funder there just agreeing to the deal with the council.

The funder I think will release the charges over RH (and training ground) when planning is approved.

Long way of saying I don’t think there is anything negative in all this.

They got the same.

 

[Medway Blue]

They got the same.

View attachment 35959

So did Thames Village (P2) and Elounda.

 

[Firestorm]

Thames Plaza I think now owns RH ( this is the development company for Fossets) - RHL retains ownership of some bits of land around the stadium.

CBRE had a charge over the stadium? We don’t know who the ultimate chargee is- CBRE were acting on behalf of a pension fund. Could be the security agent are as well. Or it could be someone new?

Given this involves heavily Thames Plaza I suspect it’s closely tied to the funding of Fossets and more related to the funder there just agreeing to the deal with the council.

The funder I think will release the charges over RH (and training ground) when planning is approved.

Long way of saying I don’t think there is anything negative in all this.

Just s thought, but the CBRE charge was brought about on 1 March 2023 , could it be that they are just renewing the loan/charge after 2 years ?

 

[kentblues]

Ocorian are a new player in all of this. The situation is not necessarily worse, but certainly more complicated.

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…

 

[Firestorm]

So did Thames Village (P2) and Elounda.

Thames Village is against Freehold land on the east side of sutton road… a plot similarly charged to CBRE

Elounda is a fixed charge ...remarkably similar to a similar charge they have with CBRE too. Refinancing maybe