Echo News Fossetts Farm 1,300 homes to be decided next week

[Gremlin]

The new deal
The council has, provisionally, agreed to allow Ron to build the planned RH housing units at RH instead of a stadium.

You mean at FF, right?

 

[Bearded Shrimper]

Can someone explain how this works?

This article leads with a headline "1300 homes to be decided next week" is that actually the case?

Or, will this paper be presented to the committee and cabinet next Weds/Thurs for final discussion. Then a final yes/no will then need to be agreed at a full council meeting at a later date, before the sale of the club can actually "complete" ?

Headlines are to *sell* the story, not tell the story

 

[Liam AAS]

You mean at FF, right?

I did mean that, yes. Sorry. My post no amended.

 

[Cricko]

Hopefully it does not make a difference to us (but it will) new house building in London is on it's arse atm and a lot of sites have been mothballed.

 

[Thundersley Blue]

I may be very confused, but I thought Ratty was selling the Club for a £1 and Roots Hall for £4.5 million. In his interview on BBC Essex, he clearly stated he was selling Roots Hall for a £1. Somewhere else I read or heard that the sale would be with a 25 year Lease.

Either I am incorrect in my thinking or the deal isn't as good as I first thought. Would someone enlighten me please..

 

[Blues4LifeDan]

I may be very confused, but I thought Ratty was selling the Club for a £1 and Roots Hall for £4.5 million. In his interview on BBC Essex, he clearly stated he was selling Roots Hall for a £1. Somewhere else I read or heard that the sale would be with a 25 year Lease.

Either I am incorrect in my thinking or the deal isn't as good as I first thought. Would someone enlighten me please..

I think it was mentioned that it is a 25 year lease to protect the consortium getting their £20m back in that time frame.

 

[Thundersley Blue]

I think it was mentioned that it is a 25 year lease to protect the consortium getting their £20m back in that time frame.

Thanks, that makes sense.

 

[Blues4LifeDan]

Thanks, that makes sense.

That's just me trying to remember what I think someone said.

I'd be more than happy for someone to clear it up thoroughly.

 

[Holy Joe]

I think it was mentioned that it is a 25 year lease to protect the consortium getting their £20m back in that time frame.

I think it's a 25yr lease in case Ron doesn't get planning permission

 

[Liam AAS]

Agenda for Policy and Resources Scrutiny Committee on Wednesday, 24th April, 2024, 4.30 pm

democracy.southend.gov.uk

 

[Leeboy]

ooooooo.........

 

[Smiffy]

Agenda for Policy and Resources Scrutiny Committee on Wednesday, 24th April, 2024, 4.30 pm

democracy.southend.gov.uk

View attachment 31761View attachment 31762View attachment 31763View attachment 31764

Merseyside Pension Fund. That's a new one.

Will be interested to see what "security" can be put in place (via planning/S106/Other) to ensure the phased payments of £20m actually arrive before we all die...

Hopefully SCC's DD can conclude soon and we can get this done in May. We cannot afford to let it drag any longer, or it will de-rail next season as well.

 

[Cricko]

ooooooo.........

rrrrrrrrrrrr...........

 

[Cricko]

Merseyside Pension Fund. That's a new one.

Will be interested to see what "security" can be put in place (via planning/S106/Other) to ensure the phased payments of £20m actually arrive before we all die...

Hopefully SCC's DD can conclude soon and we can get this done in May. We cannot afford to let it drag any longer, or it will de-rail next season as well.

Home - Merseyside Catalyst Fund

Looks like some loans are from them and managed by CBRE

 

[Smiffy]

Home - Merseyside Catalyst Fund

Weird.

What has Wirral Council/Merseyside Catalyst/Pension Fund got to do with a Southend based project?

I see CBRE are involved as well. What a headache.

What is the Fund?​

The Catalyst fund aims to invest in projects that will help to deliver economic growth to the Liverpool City Region, upgrading the housing offer, regenerating deprived communities and maximising the use of new spaces in the city.

 

[Leeboy]

Weird.

What has Wirral Council/Merseyside Catalyst/Pension Fund got to do with a Southend based project?

it's Ron - nothing is ever simple / straightforward. Thought you would know that by know Smiffy.........

Just another one of his pies he has a finger in

 

[Strykr]

Weird.

What has Wirral Council/Merseyside Catalyst/Pension Fund got to do with a Southend based project?

I see CBRE are involved as well. What a headache.

What is the Fund?​

The Catalyst fund aims to invest in projects that will help to deliver economic growth to the Liverpool City Region, upgrading the housing offer, regenerating deprived communities and maximising the use of new spaces in the city.

Bizarre.

Maybe ron had exhausted every other lender in the country. Didnt he say he was a liverpool fan once?

 

[Smiffy]

Something like this?

Wirral MB Council
|
Merseyside Pension Fund
|
CBRE
|
Merseyside Catalyst Fund
|
Thames Plaza
|
Citizen Housing​

 

[Medway Blue]

Merseyside Pension Fund. That's a new one.

Will be interested to see what "security" can be put in place (via planning/S106/Other) to ensure the phased payments of £20m actually arrive before we all die...

Hopefully SCC's DD can conclude soon and we can get this done in May. We cannot afford to let it drag any longer, or it will de-rail next season as well.

Problem with a S106 (which is where provision for the £20m will be made) is that developers can successfully apply to alter them down the line, and perhaps the Martins could do this in order to drop the £20m.

There is nothing that can be done by anybody to outlaw this from happening, but the Council will try to put as much into the contract as they can to at least disincentivise the Martins from doing so - i.e. we'll pull the F out of the deal if you do.

 

[Liam AAS]

Pensions funds invest in lots of projects that might get them a return.

... like owning land and developing property