mcfluff1985 Posted February 28, 2020 Share Posted February 28, 2020 8 minutes ago, GlossopLatic said: Im feeling a strange sense of optimism right now its as if our problems are about to bottom out and things are about to get better. Something like this might also galvanise the fans as it becomes a straight forward fight to save a 125 years of professional football in the town and we can all pull together. Or could be the end of the road Link to comment Share on other sites More sharing options...
kowenicki Posted February 28, 2020 Share Posted February 28, 2020 14 minutes ago, Theoutsider said: On what basis is it worth a couple of million tops in your opinion? I guess the recent purchase of Swindon Town’s ground is a good guide. £2.2m for the lot. That one hasn’t been neglected by its owner and is therefore argely a shit hole either... Not as much land I grant you, but Blitz wants to keep that anyway. Link to comment Share on other sites More sharing options...
oafcmetty Posted February 28, 2020 Share Posted February 28, 2020 Could really do with winning tomorrow. And isn't football the only thing that can happen on the site for a few years or so anyway? Link to comment Share on other sites More sharing options...
mcfluff1985 Posted February 28, 2020 Share Posted February 28, 2020 Just now, oafcmetty said: Could really do with winning tomorrow. And isn't football the only thing that can happen on the site for a few years or so anyway? What if there is no club? Link to comment Share on other sites More sharing options...
Theoutsider Posted February 28, 2020 Share Posted February 28, 2020 Just now, kowenicki said: I guess the recent purchase of Swindon Town’s ground is a good guide. £2.2m for the lot. That one hasn’t been neglected by its owner and is therefore argely a shit hole either... Not as much land I grant you, but Blitz wants to keep that anyway. I don’t know anything about Swindon’s ground so this is in that context. But from an investors perspective, OEC, Shop, Gym, Football Club, Retail unit (if tenanted) and the second floor of the North Stand. Let’s say that lot generated rental income of £400Kpa (should be significantly more) then applying a rental yield of 6.5% that puts a value of £2.6-million. Before any land or development potential. I’m not saying it’s worth £7-million, but equally it’s worth a lot more than Swindon’s ground. Link to comment Share on other sites More sharing options...
mick26 Posted February 28, 2020 Share Posted February 28, 2020 Just now, Theoutsider said: I don’t know anything about Swindon’s ground so this is in that context. But from an investors perspective, OEC, Shop, Gym, Football Club, Retail unit (if tenanted) and the second floor of the North Stand. Let’s say that lot generated rental income of £400Kpa (should be significantly more) then applying a rental yield of 6.5% that puts a value of £2.6-million. Before any land or development potential. I’m not saying it’s worth £7-million, but equally it’s worth a lot more than Swindon’s ground. Doesn't the cost of the build come into it? About £6M? Link to comment Share on other sites More sharing options...
latics22 Posted February 28, 2020 Share Posted February 28, 2020 Al was the only one who came in when the club prob cost a pound, why is there going to be a que of people wanting to take over a club with no assets? Link to comment Share on other sites More sharing options...
deyres42 Posted February 28, 2020 Share Posted February 28, 2020 High stakes gamble from Blitzy. Link to comment Share on other sites More sharing options...
mcfluff1985 Posted February 28, 2020 Share Posted February 28, 2020 What if AL just pays up the debt? Link to comment Share on other sites More sharing options...
kowenicki Posted February 28, 2020 Share Posted February 28, 2020 3 minutes ago, mick26 said: Doesn't the cost of the build come into it? About £6M? no. Link to comment Share on other sites More sharing options...
mick26 Posted February 28, 2020 Share Posted February 28, 2020 1 minute ago, kowenicki said: no. So you'd build a house for £100k and sell it for £50k? Link to comment Share on other sites More sharing options...
kowenicki Posted February 28, 2020 Share Posted February 28, 2020 4 minutes ago, Theoutsider said: I don’t know anything about Swindon’s ground so this is in that context. But from an investors perspective, OEC, Shop, Gym, Football Club, Retail unit (if tenanted) and the second floor of the North Stand. Let’s say that lot generated rental income of £400Kpa (should be significantly more) then applying a rental yield of 6.5% that puts a value of £2.6-million. Before any land or development potential. I’m not saying it’s worth £7-million, but equally it’s worth a lot more than Swindon’s ground. Possibly. But for any tenants to even consider going in there there is a load of work and cash required. The approach, car park and surrounding land is a shit hole. No self respecting business wants that as their home. Link to comment Share on other sites More sharing options...
kowenicki Posted February 28, 2020 Share Posted February 28, 2020 Just now, mick26 said: So you'd build a house for £100k and sell it for £50k? No. Exactly. The stand cost too much to build. It isn’t worth what it cost. Link to comment Share on other sites More sharing options...
oafcmetty Posted February 28, 2020 Share Posted February 28, 2020 11 minutes ago, mcfluff1985 said: What if there is no club? The point is that there's little value to Blitz in letting the club fold if he can't do anything with the land. May as well have someone there paying him rent (ahem). Link to comment Share on other sites More sharing options...
laticsmarra Posted February 28, 2020 Share Posted February 28, 2020 28 minutes ago, kev1970 said: Thank you blitz saved us one time now stuck the dagger in so he can feather his pockets again When did he feather his pockets previously ? Currently £millions down in cash on his OAFC project Link to comment Share on other sites More sharing options...
kev1970 Posted February 28, 2020 Share Posted February 28, 2020 Building all the houses which are on the car park Link to comment Share on other sites More sharing options...
GlossopLatic Posted February 28, 2020 Share Posted February 28, 2020 11 minutes ago, latics22 said: Al was the only one who came in when the club prob cost a pound, why is there going to be a que of people wanting to take over a club with no assets? Their were plenty of people looking at buying the club prior to the Lemsagams they were put off by the land debt and price issues this action by Blitz could change that. Link to comment Share on other sites More sharing options...
laticsmarra Posted February 28, 2020 Share Posted February 28, 2020 2 minutes ago, kev1970 said: Building all the houses which are on the car park The profit on those will only have given him a small fraction of his investment back.Its not Mayfair Link to comment Share on other sites More sharing options...
mcfluff1985 Posted February 28, 2020 Share Posted February 28, 2020 11 minutes ago, oafcmetty said: The point is that there's little value to Blitz in letting the club fold if he can't do anything with the land. May as well have someone there paying him rent (ahem). Surely if club disappears there would be something there to say he could build Link to comment Share on other sites More sharing options...
deyres42 Posted February 28, 2020 Share Posted February 28, 2020 2 minutes ago, mcfluff1985 said: Surely if club disappears there would be something there to say he could build Who's going to want to do business with the guy who let a football club die? Link to comment Share on other sites More sharing options...
Theoutsider Posted February 28, 2020 Share Posted February 28, 2020 13 minutes ago, kowenicki said: Possibly. But for any tenants to even consider going in there there is a load of work and cash required. The approach, car park and surrounding land is a shit hole. No self respecting business wants that as their home. I agree with what you are saying regarding the surroundings. The ground floor retail was up for rent with Breakey Nuttall for something like £60K I think and not unsurprisingly had no takers. There are however already 4-tenants in place (OEC, Gym, Shop, Club) and whilst I don’t know anything, I’d wager the FLG deal is based on more incoming tenants, reading between the lines Simon Wood putting a restaurant on the top floor. If done right, yes with investment, the site is worth a lot of money and already massively more than Swindon’s ground. I also happen to know for a fact the whole site was professionally valued around the time Abdallah took over. Link to comment Share on other sites More sharing options...
BJBlue Posted February 28, 2020 Share Posted February 28, 2020 4 minutes ago, deyres42 said: Who's going to want to do business with the guy who let a football club die? Any business that thinks there's profit in it. Link to comment Share on other sites More sharing options...
al_bro Posted February 28, 2020 Share Posted February 28, 2020 It's not a great time to get investors with stock markets around the world in freefall, and with a recession possibly imminent. Link to comment Share on other sites More sharing options...
GlossopLatic Posted February 28, 2020 Share Posted February 28, 2020 I do it find it strange that people think an individual who must be worth atleast 8 figures and spends his time in New York and London 2 of the most expensive places to live in the world, would be remotely interested in land in the one of the poorest parts of the country which has a football club in the middle of it. Link to comment Share on other sites More sharing options...
kowenicki Posted February 28, 2020 Share Posted February 28, 2020 19 minutes ago, laticsmarra said: When did he feather his pockets previously ? Currently £millions down in cash on his OAFC project Is he a hero again now? Link to comment Share on other sites More sharing options...
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