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Redevelopment Edgbaston
#1
At a recent match there was a display about the development of the car park area

I was sort of surprised the flat content was restricted to a rent to use by a social landlord as I recall

Economically I would have thought a buy to sell would have been better with a hotel development As in Old Trafford Worcester Somerset Grounds

Has the decision to sell possibly at less than market value been because of as a condition of redeeming the debt to the City Council

Can any body explain
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#2
(27-05-2018, 06:19 PM)Llanbranch Wrote: At a recent match there was a display about the development of the car park area

I was sort of surprised the flat content was restricted to a rent to use by a social landlord as I recall

Economically I would have thought a buy to sell would have been better with a hotel development As in Old Trafford Worcester Somerset Grounds

Has the decision to sell possibly at less than market value been because of as a condition of redeeming the debt to the City Council

Can any body explain

Pretty much every private housing development I’m aware of in Brum has to have an element of social housing. It appears to be a condition of development.
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#3
As I posted on another thread, there are some details here:
https://www.birminghammail.co.uk/news/bu...m-14665263
As I recall, there are also plans (nothing directly to do with the Club - it's land owned by Calthorpe Estates)) for a hotel just across the road from the ground.
Keep up-to-date with County Cricket at http://deepextracover.com/
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#4
(27-05-2018, 09:51 PM)Terry Wrote: As I posted on another thread, there are some details here:
https://www.birminghammail.co.uk/news/bu...m-14665263
As I recall, there are also plans (nothing directly to do with the Club - it's land owned by Calthorpe Estates)) for a hotel just across the road from the ground.
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#5
(27-05-2018, 09:51 PM)Terry Wrote: As I posted on another thread, there are some details here:
https://www.birminghammail.co.uk/news/bu...m-14665263
As I recall, there are also plans (nothing directly to do with the Club - it's land owned by Calthorpe Estates)) for a hotel just across the road from the ground.
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#6
It is the norm to have a proportion for social housing but not for 100 per cent

In a prime location such as Edgbaston it would be expected that a better return would be expected from a buy to own rent hotel development

If a decision has been made to sell for at less than open market value

Does this need to be recorde in the accounts?
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#7
(28-05-2018, 10:21 PM)Llanbranch Wrote: It is the norm to have a proportion for social housing but not for 100 per cent

In a prime location such as Edgbaston it would be expected that a better return would be expected from a buy to own rent hotel development

If a decision has been made to sell for at less than open market value

Does this need to be recorde in the accounts?

"The overall development will contain 375 apartments with communal areas such as a gym or cinema room, parking for residents and ground floor space for shops as well as a new access road."
Doesn't sound like just social housing to me.
Keep up-to-date with County Cricket at http://deepextracover.com/
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#8
(29-05-2018, 02:52 PM)Terry Wrote:
(28-05-2018, 10:21 PM)Llanbranch Wrote: It is the norm to have a proportion for social housing but not for 100 per cent

In a prime location such as Edgbaston it would be expected that a better return would be expected from a buy to own rent hotel development

If a decision has been made to sell for at less than open market value

Does this need to be recorde in the accounts?

"The overall development will contain 375 apartments with communal areas such as a gym or cinema room, parking for residents and ground floor space for shops as well as a new access road."
Doesn't sound like just social housing to me.
I didn't see the exhibition at the ground but the press release accompanying the sale didn't mention social housing at all.  Facts about the transaction are thin on the ground; there is nothing about the sale in the accounts to 30 September 2017, perhaps because the deal is subject to planning permission.  Does anybody know how much (if any) new money is coming in as a a result of the sale?  I did notice some of the land being sold is owned by the Homes and Community Agency.
RB
http://sideoncricket.blogspot.com/
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#9
In the spring edition of beyond the boundary, the article with Neil Snowball said we get no money from this because we had money 10 years ago when this land was sold. Perhaps the only way we could get money from this is to buy or rent one of the units.
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#10
(29-05-2018, 08:54 PM)rednalbear Wrote: In the spring edition of beyond the boundary, the article with Neil Snowball said we get no money from this because we had money 10 years ago when this land was sold. Perhaps the only way we could get money from this is to buy or rent one of the units.
Thanks RednalBear.  I'd missed that.
RB
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