| Old Oak Common on 21:58 - Dec 16 with 4186 views | Boston |
Thought we’d given up on this piece of land. |  |
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| Old Oak Common on 23:27 - Dec 16 with 3985 views | LazyFan |
Car Giant owner has always claimed no one can build on his land without his consent or even attempt to take it away from him.
I suspect he has had his lawyers on this decades ago as he knew how much it was worth. So, by the time the council come around or anyone else he has an unbeatable defence.
One could buy him out, but he wants mega monies worth way more than it really is.
Land banking is nothing new, see here: https://thenextrecession.wordpress.com/2019/12/15/land-and-the-rentier-economy/
zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz |  |
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| Old Oak Common on 02:08 - Dec 17 with 3871 views | Boston |
| Old Oak Common on 23:27 - Dec 16 by LazyFan |
Car Giant owner has always claimed no one can build on his land without his consent or even attempt to take it away from him.
I suspect he has had his lawyers on this decades ago as he knew how much it was worth. So, by the time the council come around or anyone else he has an unbeatable defence.
One could buy him out, but he wants mega monies worth way more than it really is.
Land banking is nothing new, see here: https://thenextrecession.wordpress.com/2019/12/15/land-and-the-rentier-economy/
zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz |
...and of course, he is a Queens Park Rangers S/T holder. | |
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| Old Oak Common on 07:41 - Dec 17 with 3743 views | kingo |
| Old Oak Common on 23:27 - Dec 16 by LazyFan |
Car Giant owner has always claimed no one can build on his land without his consent or even attempt to take it away from him.
I suspect he has had his lawyers on this decades ago as he knew how much it was worth. So, by the time the council come around or anyone else he has an unbeatable defence.
One could buy him out, but he wants mega monies worth way more than it really is.
Land banking is nothing new, see here: https://thenextrecession.wordpress.com/2019/12/15/land-and-the-rentier-economy/
zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz |
But the article says they are changing the local plan and it is going to be kept as business land. This means it is not able to have houses on it and therefore it’s value is slashed. |  |
| RIP: Sniffer, Doug and Pat |
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| Old Oak Common on 07:54 - Dec 17 with 3705 views | Bushman |
| Old Oak Common on 07:41 - Dec 17 by kingo |
But the article says they are changing the local plan and it is going to be kept as business land. This means it is not able to have houses on it and therefore it’s value is slashed. |
Apparently not.
Worth more as light industrial according to residents group on local news last night. |  |
| I know almost nothing about the Premier League even though I try to catch the big games every now and then at the end of the season. But I will say this, Queens Park Rangers is just a fukking sick ass team name. Just sounds so cool. |
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| Old Oak Common on 08:13 - Dec 17 with 3672 views | kingo |
| Old Oak Common on 07:54 - Dec 17 by Bushman |
Apparently not.
Worth more as light industrial according to residents group on local news last night. |
He was looking to develop as houses on the open market which would have been serious money. It is now only able to be business which is worth a fraction of that. | |
| RIP: Sniffer, Doug and Pat |
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| Old Oak Common on 08:38 - Dec 17 with 3623 views | CroydonCaptJack |
| Old Oak Common on 07:54 - Dec 17 by Bushman |
Apparently not.
Worth more as light industrial according to residents group on local news last night. |
I am not disputing they said that but it can't be right can it?
Resi land usually yields a much better return. |  | | |
| Old Oak Common on 08:58 - Dec 17 with 3587 views | kingo |
| Old Oak Common on 08:38 - Dec 17 by CroydonCaptJack |
I am not disputing they said that but it can't be right can it?
Resi land usually yields a much better return. |
It probably meant worth more than the compulsory purchase price. | |
| RIP: Sniffer, Doug and Pat |
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| Old Oak Common on 09:32 - Dec 17 with 3517 views | LythamR |
Surely Old Oak is dead in the water now along with HS2 as Boris diverts investment and funding to the northern constituencies that switched allegiance for the promise of a "Brave New World" |  | | |
| Old Oak Common on 10:28 - Dec 17 with 3403 views | daveB |
| Old Oak Common on 02:08 - Dec 17 by Boston |
...and of course, he is a Queens Park Rangers S/T holder. |
The Owner of Car Giant is Geoff Warren, the QPR bloke is the CEO |  | | |
| Old Oak Common on 11:28 - Dec 17 with 3269 views | Benny_the_Ball |
I can't say that I'm in the least bit surprised. Car Giant acquired a brownfield site many years ago and built a thriving business on it turning over around half a billion pounds a year. Now that the site is considered prime real estate, they're hardly likely to give 23 acres away for peanuts, compulsory purchase or not. They will only move if the price is right and they have a suitable alternative site in West London to move to (and they're hardly growing on trees). If the area remains for business use only then they can stay put and expand. Win-win. [Post edited 17 Dec 2019 11:33]
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| Old Oak Common on 11:42 - Dec 17 with 3226 views | BuckR |
We've already begun developing the bit we own into flats. You can see it when you drive past. Has the QPR badge on the development | | | |
| Old Oak Common on 12:10 - Dec 17 with 3165 views | CroydonCaptJack |
| Old Oak Common on 08:58 - Dec 17 by kingo |
It probably meant worth more than the compulsory purchase price. |
Ah yes, that is feasible. | | | |
| Old Oak Common on 13:08 - Dec 17 with 3030 views | kingo |
| Old Oak Common on 11:28 - Dec 17 by Benny_the_Ball |
I can't say that I'm in the least bit surprised. Car Giant acquired a brownfield site many years ago and built a thriving business on it turning over around half a billion pounds a year. Now that the site is considered prime real estate, they're hardly likely to give 23 acres away for peanuts, compulsory purchase or not. They will only move if the price is right and they have a suitable alternative site in West London to move to (and they're hardly growing on trees). If the area remains for business use only then they can stay put and expand. Win-win. [Post edited 17 Dec 2019 11:33]
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From what I remember, Cargiant were looking to develop and put forward their own scheme with a nationally important building at it's center, replacing the new stadium in our proposal. I would therefore think that they did have a back up site in mind, but it is now down to figures and whether anyone (QPR possibly) offer them more money for some of their site. The redevelopment of the site at LR in to housing would give a hefty return. | |
| RIP: Sniffer, Doug and Pat |
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| Old Oak Common on 13:51 - Dec 17 with 2931 views | wombat |
| Old Oak Common on 11:42 - Dec 17 by BuckR |
We've already begun developing the bit we own into flats. You can see it when you drive past. Has the QPR badge on the development |
we have but its nowhere near the car giant site , that site was always a dead duck to us madness to put all our eggs in that basket when better land was aval with next to zero issues building on it , now we are left with the LF stadium as last chance saloon , chris wright not buying the school was criminal this is ten times worse.
every time i drive past the dairy crest site i think that could have been out new ground being built there not poxy flats for more yuppee to rent out at stupid prices |  |
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| Old Oak Common on 14:53 - Dec 17 with 2814 views | LazyFan |
It's marked as industrial now.
But once the council has tempered down or changes hands, after a few years Car Giant can then renegotiate a new deal on their terms. Especially as all other investors have been fended off and disappeared. Making them the only party that can be involved in any deal with anyone.
This is the point of land banking. You bank it until you can make the maximum return. And these people are happy to be in it for the long game, such as 10-20 years or more.
Notice those skyscrapers opposite Vauxhall tube station. That site was land banked for 20 years before they started building those towers on it.
This is how they do.
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| Old Oak Common on 17:03 - Dec 17 with 2623 views | hoopdog |
Car giant must be looking into other projects with the impeding collapse of the used car market | | | |
| Old Oak Common on 20:25 - Dec 17 with 2218 views | Stanisgod |
| Old Oak Common on 13:51 - Dec 17 by wombat |
we have but its nowhere near the car giant site , that site was always a dead duck to us madness to put all our eggs in that basket when better land was aval with next to zero issues building on it , now we are left with the LF stadium as last chance saloon , chris wright not buying the school was criminal this is ten times worse.
every time i drive past the dairy crest site i think that could have been out new ground being built there not poxy flats for more yuppee to rent out at stupid prices |
I thought it was Jim Gregory who could have had the school land. |  |
| It's being so happy that keeps me going. |
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| Old Oak Common on 22:42 - Dec 17 with 1978 views | kensalriser |
The school land is often referenced, but how much would it really help? It wouldn't really increase the width of the plot, which is where it's really needed. |  |
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| Old Oak Common on 23:01 - Dec 17 with 1907 views | 2Thomas2Bowles |
| Old Oak Common on 22:42 - Dec 17 by kensalriser |
The school land is often referenced, but how much would it really help? It wouldn't really increase the width of the plot, which is where it's really needed. |
Office space and more room for TV broadcasters, to allow more seats, only a few thousand at most. |  |
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| Old Oak Common on 23:43 - Dec 17 with 1810 views | wombat |
| Old Oak Common on 22:42 - Dec 17 by kensalriser |
The school land is often referenced, but how much would it really help? It wouldn't really increase the width of the plot, which is where it's really needed. |
Stadium could have been moved , bigger stands at each end , increased capacity , more revenue due to increased capacity , possibitlly of making South Africa road deeper as well at the time , we could prob have ended up with a 30k stadium on our present site , and yes Chris wright was offered the jack gizzard site and I believe the flats behind it for a Tony amount but thought it wasn’t worth while for the club | |
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