Lidl buy Prospects site

[Smiffy]

Worthy of a new thread I think. Not a great surprise. So.....what now?

 

[kentblues]

I suspect the scenario I floated earlier today (see below) has legs..

Here's a scenario that I consider quite possible

- Sainsbury are pulling out although an announcement is agreed to follow certain other events (giving Sainsbury are exiting the contract- breach with penalties- that would give the club some influence about how news is released and timing)
- As its Sainsbury pulling out they will write off all funds previously advanced and this represents compensation for the breach.
- Ron still owns the ground and is X millions back in pocket as a whole bunch of accumulated debt is now written off.
- Meanwhile the value of Roots Hall (and indeed all of his landbank) has significantly increased in value and its all his again.
- Now he has exited the accumulated debt and has an asset (Roots Hall) of increased value his access to funding is enhanced as he has far more collateral at the very time that access to funding is easier and at far lower cost (as per Ron's statement).
- If the club knew about the Sainsbury decision some time ago then in the background no doubt plan B will have been actively pursued for some time also.
- Potential plan B: Lidl to build a store on Roots Hall (this may or may not change what is being built- store may be smaller and housing element bigger and this may or may not mean delay). However with all that debt written off, and increase in land/property values the numbers now look much better.
- stadium will not be built by Lidl but by Ron who with greater collateral and access to cheaper funds no longer needs a partner.

 

[shrimperjon]

Exactly what I reported on Saturday, tweeted before the game and posted on here!

 

[Jam_Man]

Exactly what I reported on Saturday, tweeted before the game and posted on here!

Dont believe you. :smile:

I suspect the scenario I floated earlier today (see below) has legs..

Here's a scenario that I consider quite possible

- Sainsbury are pulling out although an announcement is agreed to follow certain other events (giving Sainsbury are exiting the contract- breach with penalties- that would give the club some influence about how news is released and timing)
- As its Sainsbury pulling out they will write off all funds previously advanced and this represents compensation for the breach.
- Ron still owns the ground and is X millions back in pocket as a whole bunch of accumulated debt is now written off.
- Meanwhile the value of Roots Hall (and indeed all of his landbank) has significantly increased in value and its all his again.
- Now he has exited the accumulated debt and has an asset (Roots Hall) of increased value his access to funding is enhanced as he has far more collateral at the very time that access to funding is easier and at far lower cost (as per Ron's statement).
- If the club knew about the Sainsbury decision some time ago then in the background no doubt plan B will have been actively pursued for some time also.
- Potential plan B: Lidl to build a store on Roots Hall (this may or may not change what is being built- store may be smaller and housing element bigger and this may or may not mean delay). However with all that debt written off, and increase in land/property values the numbers now look much better.
- stadium will not be built by Lidl but by Ron who with greater collateral and access to cheaper funds no longer needs a partner.

Who knows, lot of what you say does sound possible.

Dont see Lidl being built on Roots Hall, they dont build stores that big, but maybe there are other options being explored?

 

[kentblues]

There is no way a Lidl store, parking and access can fit on the prospects site. Way too small.
Typically a Lidl would be smaller but maybe that will just mean more parking or more likely housing- can't see how else it can make sense.

 

[Austin the Shrimper]

So this is all good news for Southend United..... Yes?

 

[chapperzUK]

So this is all good news for Southend United..... Yes?

Few points from the echo article today:

- Revealed that Lidl are "in the frame for the new store".

- Mr Bates said: "I would not be surprised if the stadium plans rumble on for 10 more years."

- While Ron Martin didn't comment on it, he still "maintains the Blues will move to a new stadium"

 

[Pubey]

Worthy of a new thread I think. Not a great surprise. So.....what now?

It was for OBL!:smile:

 

[chapperzUK]

Something else in the echo article which I thought was a bit cheeky. While Prospects College couldn't "confirm or deny" who is buying it, Aldi came out and said it was Lidl. Bit like in school where the teacher days "I don't care who it was who threw the paper airplane" and the attention seeking kid goes "it was him!".

 

[Pubey]

Might Lidl just sit on that site now to stop any rival development?

 

[southend4ever]

Exactly what I reported on Saturday, tweeted before the game and posted on here!

& what? you want recognition? :smile:

 

[gpd]

If there is THAT much money in redeveloping RH...why doesn't Ron do it himself? There'll now be a large Lidle...it's near the town...land values gone up since this all started...house prices gone up since all this started...the council will jump at a new housing development...Fossetts can start ! Or....rebuild RH..and develop Fossetts as an out-of-town facility with houses etc. With the Soccer Dome going out there, there will be the opportunity to build a community facility as well as the new SUFC training centre. Hotel and plush flats as per the plan already agreed. Sorted.

 

[Yorkshire Blue]

If there is THAT much money in redeveloping RH...why doesn't Ron do it himself? There'll now be a large Lidle...it's near the town...land values gone up since this all started...house prices gone up since all this started...the council will jump at a new housing development...Fossetts can start ! Or....rebuild RH..and develop Fossetts as an out-of-town facility with houses etc. With the Soccer Dome going out there, there will be the opportunity to build a community facility as well as the new SUFC training centre. Hotel and plush flats as per the plan already agreed. Sorted.

Lack of credit.

I mean would you lend him money?

 

[davewebbsbrain]

There is no way a Lidl store, parking and access can fit on the prospects site. Way too small.
Typically a Lidl would be smaller but maybe that will just mean more parking or more likely housing- can't see how else it can make sense.

There is a Lidl going to be built at the bottom of Progress Road. Not the biggest site, but not sure how it compares to the prospects site size wise.

 

[Gt Yarmouth Shrimper]

Exactly what I reported on Saturday, tweeted before the game and posted on here!

:smile:

 

[united we stand]

Dors this mean that a four sided stadium is now back on?

 

[onceknownasrab]

If there is THAT much money in redeveloping RH...why doesn't Ron do it himself? There'll now be a large Lidle...it's near the town...land values gone up since this all started...house prices gone up since all this started...the council will jump at a new housing development...Fossetts can start ! Or....rebuild RH..and develop Fossetts as an out-of-town facility with houses etc. With the Soccer Dome going out there, there will be the opportunity to build a community facility as well as the new SUFC training centre. Hotel and plush flats as per the plan already agreed. Sorted.

The site is worth more money to a supermarket than to a developer building houses. Although there is quite a bit of dosh to be made from houses, it is one off, and a supermarket is the gift that keeps on giving.

 

[BrettieAngell]

Might Lidl just sit on that site now to stop any rival development?

or sell it and make some momey.

 

[WightShrimper]

Not sure of my facts, but Lidl and Aldi buy up sites of a certain size to put up small stores as a short term return on their investment, but their main business plan is land aquisition.

 

[Rattus Norvegicus]

Does this mean that a four sided stadium is now back on?

Not possible to say as it seems only Ron Martin has the answer to that question ........... :sherlock: