Barratts

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ChessingtonBee

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Barratts

When I collected my Orient ticket, around midday on Friday, there were a couple of very smartly suited and booted gentlemen going into the club.

As I was standing at the ticket window, they were joined by a third person carrying a model of a building. He announced the gentlemen were from Barratts. The door was opened and they were ushered in.

Anyone know what this is about ? I presume it relates to property development.
 

Barratts

:eek: :eek: :eek: :eek: :eek: :eek: :eek: :eek:
 

Barratts

Selling Sherbert Dips no doubt :suspect:
 

Barratts

ChessingtonBee said:
When I collected my Orient ticket, around midday on Friday, there were a couple of very smartly suited and booted gentlemen going into the club.

As I was standing at the ticket window, they were joined by a third person carrying a model of a building. He announced the gentlemen were from Barratts. The door was opened and they were ushered in.

Anyone know what this is about ? I presume it relates to property development.
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Barratts have always been Brian Burgess perferred partner for the sale of Griffin Park.
 

Barratts

Brickie Chap said:
Barratts have always been Brian Burgess perferred partner for the sale of Griffin Park.
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We should sell to the highest bidder on a subject to planning basis only. No other conditions. If we sell unconditionaly, we will not benefit fronm the full value. Any more conditions and the value of GP goes down.

From BFCs point of view, there should be a sell on clause (sometimes house builders sell sites on so we would want a slice of any future sale), we should also agree an uplift clause. If the purchaser says they are going to build 200 units and we sell on that basis and after the sale the purchaser gets a planning consent for 220 units, we want a slice of the enhanced value.
 

Barratts

JBN said:
We should sell to the highest bidder on a subject to planning basis only. No other conditions. If we sell unconditionaly, we will not benefit fronm the full value. Any more conditions and the value of GP goes down.

From BFCs point of view, there should be a sell on clause (sometimes house builders sell sites on so we would want a slice of any future sale), we should also agree an uplift clause. If the purchaser says they are going to build 200 units and we sell on that basis and after the sale the purchaser gets a planning consent for 220 units, we want a slice of the enhanced value.
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...have no fear....Eddie Rogers...Property Expert....well to someone...possibly his poodle...is helping Brian :rolleyes:
 

Barratts

Brickie Chap said:
...have no fear....Eddie Rogers...Property Expert....well to someone...possibly his poodle...is helping Brian :rolleyes:
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Thats ok then, we can all sleep soundly in our beds, knowing that it is in good hands:eek:
 

Barratts

Youngbee2 said:
Dont we already own some flats, behind Brook Road where the royal oak stand used to stand?
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Flats are normally sold on long leases 99yrs+ with a minimal ground rent. The freehold is retained or sold by the developer/owner. In some cases, the residents of the flats can have the opportunity to buy the freehold or part of it.

Either way, it is pretty worthless to BFC as the owners of the flats would need to be bought out, at the market rate, in order to gain control of the land.
 

Barratts

Youngbee2 said:
Dont we already own some flats, behind Brook Road where the royal oak stand used to stand?
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No. Lange started the death by a 1000 cuts of this club with his redevelopment....
 
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