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Saxbro
Guest
£25m? Figure should include whole site including car parks
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Rusty Trombone
Well-Known Member
Just look back at all the other threads on this, no new info will come from starting another thread.
bigfatronssba
Well-Known Member
Encumbered or unencumbered freehold?
The Gentleman
Well-Known Member
True, unless they would just get a valuation and make an offer. Balls and rolling spring to mind. What I cannot understand is why they cannot just get CBRE to do it, they seem to be cosy with them
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Saxbro
Guest
Presume the price would have to include the £14m debt plus any buyout clauses with compass?
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chiefdave
Well-Known Member
You'd have to purchase several parts to end up owning the whole thing.
To get the leasehold you'd have to buy out Higgs, around £5m would do that if they offer the same deal they did to SISU. If it was me I would offer the council £14m to repay the loan in exchange for their share as a starting point.
In terms of the freehold it's actually, according to the original funding document for the arena, not worth that much as it doesn't generate any money. The value of the freehold increases as the period left on the lease lowers. As we all know there's no real reason to need ownership of the freehold, especially if you can change the lease to a rolling lease on a peppercorn rent.