Latest Rumours Sainsbury "put new stadium on backburner"

[BLUEBLOOD]

Having recently undertaken the freehold on the flats above Sale Appliances Sainsburys have spent a good deal of money on renovating them and are now offering them for rent .. apparently to try to recoup some of the c. £150,000 they've lost having pulled out of the deal to buy Prospects

Do not expect any movement on the new ground for at least the next 2 years

:'(

 

[Cricko]

I was with Lee when we were told this..and that they have pulled out on the purchase of Chris Sales shop..They own one of them but are not going ahead with buying the others at the moment.

All very bizarre but would make sense in why they pulled out of buying Prospects.

Of course whether we were told the truth who knows.

 

[Pubey]

Can someone summarise what has happened with Prospects so far? Did we drag things out with them for too long and they ran off and took their ball with them? If so then perhaps we're playing a slow game to try and get them back to the table (and suggesting that they don't have us over a barrel - although they probably do)?

Or does this mean Sainos are pulling out?

what does this mean for us seeing as we continue to haemorrhage money?

 

[Cricko]

Can someone summarise what has happened with Prospects so far? Did we drag things out with them for too long and they ran off and took their ball with them? If so then perhaps we're playing a slow game to try and get them back to the table (and suggesting that they don't have us over a barrel - although they probably do)?

Or does this mean Sainos are pulling out?


what does this mean for us seeing as we continue to haemorrhage money?

Sainsbury's agreed to buy Prospects and gave them a large deposit somewhere between 150k/200K are the figures I have heard....They then did not complete on the deal and subsequently lost their deposit.

 

[BLUEBLOOD]

In a nutshell we are screwed

I think we all knew this deep down but if Sainsburys are no longer backing us financially as is indicated one more trip to the winders will see us fold

 

[Pubey]

what's the source?

 

[Cricko]

what's the source?

He sells washing machines.

 

[BLUEBLOOD]

Someone close to the Roots Hall project .. well inextricably linked to be more accurate

EDIT: or what John said :winking:

 

[BILLERICAY BLUE]

Why don't we just enforce the CPO's and be done with it....

 

[Cricko]

Why don't we just enforce the CPO's and be done with it....

Eh? why would they need to do that ..the deal was done it wasn't the seller who pulled out.

 

[BILLERICAY BLUE]

But hasn't the whole project been held up by Pizza Man not playing ball, or have I missed something...

 

[Cricko]

But hasn't the whole project been held up by Pizza Man not playing ball, or have I missed something...

Possibly, but I don't see why that would hold up the purchase of other buildings when figures have already been agreed for those with the 2 parties.As you say they could just slap a CPO on him at any time.

 

[Pubey]

But hasn't the whole project been held up by Pizza Man not playing ball, or have I missed something...

Yeah I'm really confused by what's happening here.:unsure:

 

[OldBlueLady]

Hang on a moment, isn't it part of the plan that Roots Hall and therefore much of the surrounding area, can't be knocked down until we have a stadium to move to? Those properties on the corner are the least important part of the jigsaw (in the sense that they could easily be the last bit to "go") so doesn't it make sense for Sainsburys to try and recoup some money on them for as long as they can?

 

[Cricko]

I just don't understand why Sainsburys would throw away 200k if they needed to buy Prospects anyway.That puzzles me the most.

 

[Cricko]

Hang on a moment, isn't it part of the plan that Roots Hall and therefore much of the surrounding area, can't be knocked down until we have a stadium to move to? Those properties on the corner are the least important part of the jigsaw (in the sense that they could easily be the last bit to "go") so doesn't it make sense for Sainsburys to try and recoup some money on them for as long as they can?

But they have already brought some of the premises ..why suddenly stop now unless they are putting things on hold.Surely if you are correct they would not of brought any of them yet.

 

[BLUEBLOOD]

The shell of the Sainsbury store was to be erected hand in hand with Fossetts, hence the need for a "clear plot "and while we don't have ANY tenants for Fossetts (none zero zip no supermarket or casino as previously stated) Sainsburys are reluctant to keep throwing good money after bad and are in fact trying to protect their investment

 

[Another Surrey Shrimper]

I'm getting that we have no Prospects but I'm not really getting why. This reads like 'no new stadium', but then in over an hour there has been less alarmist postings than when they took the onions away. Are we saying 'no new stadium'?

 

[Cricko]

The shell of the Sainsbury store was to be erected hand in hand with Fossetts, and while we don't have ANY tenants for Fossetts (none zero zip no supermarket or casino as previously stated) Sainsburys are reluctant to keep throwing good money after bad and are in fact trying to protect their investment

I forgot that bit..thanks mate....This does all seem to stem from the fact as Lee has pointed out that they cannot get any tenants for FF.Therefore they do not want to throw money at FF without seeing any return from the retail park.

 

[BLUEBLOOD]

I'm suggesting no new stadium for the foreseeable future .. and seeing as we are flying by the seat of our pants at RH i see that as being very very bad .. i admit i am a pessimist but i think there's more chance of us going belly up than to FF