When will the takeover go through? The Waiting Game...

[Napster]

I didn’t say that. I did say
“The idea that rental prices would be higher rather than lower as a result of 1500 new homes injected into the market is an interesting one- I would make the opposite case.” The significant bit I didn’t say and would agree is unlikely.

I did say “the single biggest impact on rental prices is supply” but that was a general statement.

Fair enough, I have had a bottle of Malbec

 

[kentblues]

Fair enough, I have had a bottle of Malbec

And I a nice bottle of Shiraz….:-)

 

[Callum]

Update from Tony Cox:

View attachment 32078

Be Christmas by the time they finish it with deal still not completed

 

[Flinty]

Excuse my stupidity here but I’m not sure now why we have all these delays. Wasn’t there planning already approved and I assume rental agreements made with the council for:
x number of properties at FF along with a stadium.
x number of properties at RH.

All that’s changed are the properties from RH are now, subject to planning, being moved to FF. Surely the rental agreements with the council remain the same as previously agreed, just the location has changed. On this assumption, what is all the DD about ? Surely this would have been completed for the original schemes ?

 

[Supa Shrimpa]

Excuse my stupidity here but I’m not sure now why we have all these delays. Wasn’t there planning already approved and I assume rental agreements made with the council for:
x number of properties at FF along with a stadium.
x number of properties at RH.

All that’s changed are the properties from RH are now, subject to planning, being moved to FF. Surely the rental agreements with the council remain the same as previously agreed, just the location has changed. On this assumption, what is all the DD about ? Surely this would have been completed for the original schemes ?

I don't think it's quite as easy as that. What if RH is classed as brownfield (ie commercial) and FF has parts that are green belt ? That could make a massive difference. Plus, you have a different set of local people to take into consideration. Many more could object to the additional traffic problems etc.

 

[Holy Joe]

Excuse my stupidity here but I’m not sure now why we have all these delays. Wasn’t there planning already approved and I assume rental agreements made with the council for:
x number of properties at FF along with a stadium.
x number of properties at RH.

All that’s changed are the properties from RH are now, subject to planning, being moved to FF. Surely the rental agreements with the council remain the same as previously agreed, just the location has changed. On this assumption, what is all the DD about ? Surely this would have been completed for the original schemes ?

You know what assume makes!

The financials are completely different. Just from what's been made public, the lease length is much longer and there's £20m from profits to be transferred to the club. It's not just housing moving from RH to FF

 

[Blue Yonder]

If the deal collapsed now because one party has , let’s say lied about what they’re selling, or not provided paperwork or whatever, is there any kind of liability/come back ? If not, the exchange of contracts with all the fanfare is a bit of a pointless exercise.

 

[Bearded Shrimper]

Excuse my stupidity here but I’m not sure now why we have all these delays. Wasn’t there planning already approved and I assume rental agreements made with the council for:
x number of properties at FF along with a stadium.
x number of properties at RH.

All that’s changed are the properties from RH are now, subject to planning, being moved to FF. Surely the rental agreements with the council remain the same as previously agreed, just the location has changed. On this assumption, what is all the DD about ? Surely this would have been completed for the original schemes ?

there were rumours that Ron was trying to change things and move to goal posts to his advantage. only rumours, but he's been trying to use the club to blackmail the council so wouldn't surprise me

 

[Strykr]

Sadly, I really don't think it is a good deal for the residents of Southend who are in the private rented sector, and there are a lot of them, they are pretty much being condemned to have their rental reviews put into competition with a large number of properties coming into the sector at purposely inflated rental values. Property and rental values virtually the whole world over track the higher end of the market; the top end moves up and everything else falls in place behind at their relevant levels.
A purposeful injection of a large number of properties at a declared 20% uplift will result in an uplift of similar levels across the whole private rented sector. The effects won't happen immediately but they will filter through once those new properties grow as a market share in the sector. You have to remember that the majority of people who live and work in Southend are on below average wage and can really be struggling in a market that is distorted by the much higher disposable incomes of those who live here but work in the higher wage area in London.

I have seen recent reports of people in Southend already seeing 25%, or more, rental increases being demanded when rentals are being renewed and I just think that our Local Authority should not be a party involved in injecting an uplift pressure of 20% into that market. I feel that in 5-10 years time this will be seen as a poor deal for many of the residents that, if I were still in Council, I would have taken an oath to serve to the best of my ability.

Of course, this view is taken on the basis that I haven't seen any of the 'pink' papers detailing the financial ins and outs; there may well be some golden magical beans in there that make it all fantastic and will pave the streets with gold, cynically I would suggest that there aren't and that is why I have the view I have.

You know me pretty well, Cricko, and you know that I desperately want the club to thrive and I hope that when the deal goes through that will happen and I am proved spectacularly wrong about the private rented sector. If the FF units were going to come along at market levels, or below, I'd be championing the deal and be over there driving a digger!!!

The fact they arent coming along at market level or below and are aimed at the high end of the market surely can be put down to nothing other then pure greed.

You would think someone in the chain would put in a rule of at least a 50/50 split of affordable...

Its dissapointing but Im not surprised by it sadly. Snouts in the trough...

 

[Holy Joe]

If the deal collapsed now because one party has , let’s say lied about what they’re selling, or not provided paperwork or whatever, is there any kind of liability/come back ? If not, the exchange of contracts with all the fanfare is a bit of a pointless exercise.

Allegedly the consortium have a real with Ron that if the deal collapses he'll refund them 50% of what they've put in.

 

[Bearded Shrimper]

Allegedly the consortium have a real with Ron that if the deal collapses he'll refund them 50% of what they've put in.

and good luck to them if that happens coz blood and stones comes to mind

 

[Linda Loan Shark]

Allegedly the consortium have a real with Ron that if the deal collapses he'll refund them 50% of what they've put in.

If the deal falls through they will never get back what is owed to them. They just join a long list of people Ron owes money to

 

[M_Simps]

If the deal falls through they will never get back what is owed to them. They just join a long list of people Ron owes money to

If the deal falls through and the club goes bust, he can then bulldoze RH, redevelop the place and then pay them back with the proceeds. He'd probably get some sort of sick satisfaction out of doing that.

 

[Shrimper]

If the deal falls through and the club goes bust, he can then bulldoze RH, redevelop the place and then pay them back with the proceeds. He'd probably get some sort of sick satisfaction out of doing that.

He would never get planning permission.

Aside from him being persona non-grata it's taken him, what, 25 years to even get here for Fossetts Farm?

He'd be dead before a spade is put down

 

[kentblues]

The fact they arent coming along at market level or below and are aimed at the high end of the market surely can be put down to nothing other then pure greed.

You would think someone in the chain would put in a rule of at least a 50/50 split of affordable...

Its dissapointing but Im not surprised by it sadly. Snouts in the trough...

Unless it works financially for all parties including SBC and the funders incl. the £20m back to the club then it won’t happen (and 200 “affordable” residential units is better than none). Someone can say 50/50 now and the deal would be years away from happening if at all. Regrettably..

 

[M_Simps]

He would never get planning permission.

Aside from him being persona non-grata it's taken him, what, 25 years to even get here for Fossetts Farm?

He'd be dead before a spade is put down

There's a comforting thought...

 

[annie1954]

there were rumours that Ron was trying to change things and move to goal posts to his advantage. only rumours, but he's been trying to use the club to blackmail the council so wouldn't surprise me

Not a rumour very true it happened

 

[defender05]

Not a rumour very true it happened

At which point the council should have shut him down and said no.

 

[C'mon you Shrimpers]

Moving the goalposts is too vague. Rumours too vague. Might be true but not helpful.

 

[Supa Shrimpa]

Wonder if the consortium regret doing the event at the Cliff Pavilion now ? The sale all seemed a formality at the time