Spending our Windfall

[Alistair20000]

They'd be scared stiff because I assume they don't have the time and maybe the experience or competency to deal with this kind of deal ( I repeat "maybe" : it's an assumption, not fact).

You may very well think that. I could not possibly comment further.

 

[Avening Posse]

No of course not, they are not Plymouth . I am sure that they would want a profit, and some sort of clawback, on any future sale at a profit, should we ever want to relocate and sell the land for redevelopment. I have no idea of related figures, guess that those involved at the time of the Drivers Jonas report and discussions that followed with the Council may have a vague historic idea, but that was centred on the extent of compensation that would pay us to surrender our lease, to go towards a new stadium or sharing with the Chiefs, although, iirc in both options it fell well short.

I can't give a costed plan, I merely suggesting a way of acquiring SJP that avoids the Club becoming a target for unscrupulous predators.

This. And Alistair's back of fag packet should certainly be workable. I personally do not believe the Trust would need to pay anywhere near that. If a covenant restricts the use to what it is, that should define current value, and an overage clause in favour of the council would protect them if the use class changed. In my view the current value should be based upon a commercial yield (or capitalisation rate) based on the current net income, that being the rent paid on the lease currently (or an uplifted rent if the current rent is considered below market when the next review is due. What is a commercial yield for a sports facility in Devon ?, I would be very surprised if it is in excess of 8% ?....anybody know ?....what is the current net rent under the lease ?....anybody know ?

 

[Antony Moxey]

This. And Alistair's back of fag packet should certainly be workable. I personally do not believe the Trust would need to pay anywhere near that. If a covenant restricts the use to what it is, that should define current value, and an overage clause in favour of the council would protect them if the use class changed. In my view the current value should be based upon a commercial yield (or capitalisation rate) based on the current net income, that being the rent paid on the lease currently (or an uplifted rent if the current rent is considered below market when the next review is due. What is a commercial yield for a sports facility in Devon ?, I would be very surprised if it is in excess of 8% ?....anybody know ?....what is the current net rent under the lease ?....anybody know ?

I'm not sure a covenant that restricts use exists. I was always of the understanding that if the ground is no longer used for leisure purposes an alternative site of the same area needs to be found within the city to accommodate similar activities. So if we moved then the ground could be used for whatever. I'm sure there's a planner on these boards who can correct this if I'm wrong (which I might well be).

 

[Banksy]

When I saw this thread my heart lifted momentarily.I thought our three million for Ethan had at last by a miracle come in ,or maybe , just maybe, someone had bid for Ollie in the window.
Oh well , back to my cave for another six months.

 

[IndoMike]

When I saw this thread my heart lifted momentarily.I thought our three million for Ethan had at last by a miracle come in ,or maybe , just maybe, someone had bid for Ollie in the window.
Oh well , back to my cave for another six months.

Patience, Banksy. It's onl been 7 months..

 

[IndoMike]

Looks like Swindon's offer of 1.1 M to acquire freehold of the County Ground from Swindon Borough Council will be accepted

 

[Dubai Grecian]

Get the C&F facilities sorted, the "building structures" and I use that term very loosely are well out dated. New gym, physio area, catering for staff/players etc.

Keep giving us the foundations for longterm stability and ultimately success.

 

[tonykellowfan]

Hang on a second, we are spending all this money at SJP and there are only 3 years left on the lease????

 

[Avening Posse]

I'm not sure a covenant that restricts use exists. I was always of the understanding that if the ground is no longer used for leisure purposes an alternative site of the same area needs to be found within the city to accommodate similar activities. So if we moved then the ground could be used for whatever. I'm sure there's a planner on these boards who can correct this if I'm wrong (which I might well be).

I don't know either Mr Moxey, but always assumed there must be one in place after the buy-back from that developer...Beazer Homes ?, cannot recall

 

[Avening Posse]

I don't know either Mr Moxey, but always assumed there must be one in place after the buy-back from that developer...Beazer Homes ?, cannot recall

Forgot to say, if one doesn't exist I see no reason why the seller couldn't incorporate one, but I suppose that's about whether they would want to