Council should have gone into the hedgefund game

Discussion in 'Coventry City General Chat' started by covboy1987, May 10, 2013.

  1. covboy1987

    covboy1987 Well-Known Member

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    If it is true that the council have only paid £10 million for a share in the Ricoh that has been mentioned a number of times on this forum then my calculations say they have nearly paid it off? The massive development built after highfield road was demolished which the council of course gave the green light to and received no doubt many thousands of pounds in planning fees alone on the many apartments and housing built on the land.

    In total with council rates my estimation is that they have received approx 6 to 8 million pounds in the last 8 years and although a fag packet calculation and does not take into consideration what CCFC were paying in rates etc (not much i would guess) they cannot be far from breaking even and that does not take into consideration the rates received on the Ricoh stadium,casino and hotel over 8 years and possibly the arena shopping area if it is fair to include

    Overall this investment including highfield road is an investment that a hedge fund or even Haskall would be proud of ? should they not be advising all on the best way forward as clearly they are experts in this field
     
  2. Broken Hearted Sky Blue

    Broken Hearted Sky Blue Well-Known Member

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    So when Ford sold the Daimler site Puegeot sold Stoke the Council were acting like a hedge fund were they? Highfield Road was sold by the then owners money spent. Planning fees rates etc are part of what a council do
     

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