New Stadium Progress

New Stadium Progress

JBN said:
Barratts profits down but they still manage a poultry £130+m:D

A couple of developers I have spoken too, expect a tough 2009 with it picking up in 2010.
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The figure you're referring to is a post impairment charge PBT figure that includes capital costs. It is the pre exceptional performance that you need to look at. Operating profit was actually £550m but Barratt's took on a [hopefully] one off £255m impairment charge as a result of a reevaluation of their landbank. Pre exceptional PBT was actually just shy of £400m.

Still gross profits are only 19% of sales. Most property developers continue to outsource construction and with it too a % of profits. This constitutes a large part of COGS, hence why we get such poor gross margins.

My rule in business is that you can outsource back office costs (admin and other BPO stuff) but never ever do you outsource business that actually adds to the bottom line.
 
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New Stadium Progress

Interesting quote from the subStandard:

Peter Thomas, the London Welsh chief executive, said: "We have spent a number of years languishing in National One with a part-time set-up and last December we decided we didn't want to go backwards. We want to be involved in the Premiership.

"I believe the two-tier plan will come in next year and if it happens we have the funding in place.

"We have spoken to Brentford about their plans for a stadium and the location would be ideal."
 

New Stadium Progress

jlove said:
Interesting quote from the subStandard:

Peter Thomas, the London Welsh chief executive, said: "We have spent a number of years languishing in National One with a part-time set-up and last December we decided we didn't want to go backwards. We want to be involved in the Premiership.

"I believe the two-tier plan will come in next year and if it happens we have the funding in place.

"We have spoken to Brentford about their plans for a stadium and the location would be ideal."
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I smell a :banana:
 

New Stadium Progress

Brentford and the Boyos in one stadium :sorted:
 

New Stadium Progress

New Stadium Progress

http://www.telegraph.co.uk/finance/...deeper-in-construction-and-manufacturing.html

The quote that caught my eye here is "Alastair Stewart, an analyst with Dresdner Kleinwort, said: "Prices of urban apartments appear to have fallen in many cases by 40 per cent to 50 per cent, volumes have dried up to virtually zero, many developers have gone bust and land in many cases appears to be worthless."

I wonder how the decline in the Braemar Road valuation will do to the prospects for development, and of course the forecast flat prices over the next 5 years.
 

New Stadium Progress

bee1958 said:
http://www.telegraph.co.uk/finance/...deeper-in-construction-and-manufacturing.html

The quote that caught my eye here is "Alastair Stewart, an analyst with Dresdner Kleinwort, said: "Prices of urban apartments appear to have fallen in many cases by 40 per cent to 50 per cent, volumes have dried up to virtually zero, many developers have gone bust and land in many cases appears to be worthless."

I wonder how the decline in the Braemar Road valuation will do to the prospects for development, and of course the forecast flat prices over the next 5 years.
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Mark Clare, Group Chief Executive of Barratt Developments commented last month:

“Whilst we have produced a satisfactory set of results in an extremely challenging market, there is little prospect for any material improvement in trading conditions until mortgage finance and customer confidence return. In the meantime, we have successfully refinanced our business. Our focus today and looking forward is to maximise sales revenues, reduce costs and generate cash to reduce debt.”


As to when mortgage finance and customer confidence might be expected to return to normal or stable levels in the UK, a recent commentary from an economic forecaster ended -
" There is light at the end of the tunnel, I think it's on that train heading straight for us"
 

New Stadium Progress

bee1958 said:
http://www.telegraph.co.uk/finance/...deeper-in-construction-and-manufacturing.html

The quote that caught my eye here is "Alastair Stewart, an analyst with Dresdner Kleinwort, said: "Prices of urban apartments appear to have fallen in many cases by 40 per cent to 50 per cent, volumes have dried up to virtually zero, many developers have gone bust and land in many cases appears to be worthless."

I wonder how the decline in the Braemar Road valuation will do to the prospects for development, and of course the forecast flat prices over the next 5 years.
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DkB ain't done so well with their fortune telling. They had to sell out to Commerzbank, who, I understand, have not completed the deal yet. :whoops:
 

New Stadium Progress

Barratt's finance director, in his notes on impairment review in the 2008 Annual report, had the following to say


"The Group conducted a review of the carrying value of its housebuilding land at 30 June 2008 in accordance with normal practice and accounting standards. This review was carried out on a site-by-site basis using valuations incorporating forecast sales rates and average selling prices that reflect both current and anticipated trading conditions. We paid particular attention to high-risk sites including large and complex sites, apartment blocks outside London and sites with low sales rates. The review also
considered sites that have not yet been started and larger, more capital-intensive sites where it may be more appropriate to realise cash through sale of the assets rather than developing the site through to completion. As a result of the review, the Group recognised an impairment of the housing land bank of £151.2m in the year ended 30 June 2008."

While the proposed Lionel Road development is undoubtedly a complex and capital intensive site, he does qualify "apartment blocks outside london" as high risk sites. By implication high-rise developments in and around the London area may be considered to be less risky and more likely to see a recovery in demand in the medium term.
 

New Stadium Progress

Meaning that we might still get the go ahead in the near future rather than another 10 year wait?

How long has it been since the consultation that we heard something other than paper talk about the housing market going bust?
 

New Stadium Progress

New Stadium Progress

Thank you.. I was unaware of this site, though it probably is mentioned somewhere in this large thread.
 

New Stadium Progress

from what you can see on the above mentioned website (which isnt alot) the stadium design is certainly different than the standard designs seen so much these days, although it does look a little odd if im honest?
 

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this is a good picture of the planned layout of the site, i hope the BFC(lionel Road) Group don't mind me reproducing it here! it shows that it's a bit tight on space!
 

New Stadium Progress

Ambrose_1889 said:
Didn't know about that. Cheers. Any way of getting a bigger versions of the images along the bottom (stadium 3d visualisation)?
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Go to "Sitemap" then "Pictures"
 
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GABS said:
Go to "Sitemap" then "Pictures"
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Check out image 2 - most of our players aren't even looking at the ball. And Karleigh has left his man totally unmarked. Typical!
 

New Stadium Progress

Fell Tel said:
Check out image 2 - most of our players aren't even looking at the ball. And Karleigh has left his man totally unmarked. Typical!
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Looks like a messed up "Spot the Ball" competition, either that or the new stadium ball boys need some multi-ball system training asap :D
 

New Stadium Progress

As far as I'm aware those stadium visuals were made before we signed up AFL as our architects. I assume some time in the next few months AFL will come up with a radically different design, somewhat based on the questionnaire they did.
 

New Stadium Progress

I don't know the full details (I may have mis heard) and it may already be on here, but I have just heard that Barratt's have pulled out of a deal with Ayr United that included buying their existing ground for re-development.

:cool:
 

New Stadium Progress

New Stadium Progress

Not good news on the sale of properties in Brentford.

Barratts have only sold 3 flats in the Wallis development in the last 3 months.
 

New Stadium Progress

chippendale said:
Not good news on the sale of properties in Brentford.

Barratts have only sold 3 flats in the Wallis development in the last 3 months.
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But the building work has not been completed and the Barratts are keeping the price exceptionally high
 

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Luke Kirton said:
:scratch: I walk past the site everyday on my way to work. There has been much activity on the site and new blocks are emerging. I would say the work continues at a pace.
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Thats a shroud your looking at Luke:eek:

Behind that shroud is an empty building site with a couple of cranes:eek::eek::eek::eek::eek::eek:
 

New Stadium Progress

How much of the current ground does Fullers still own? Where is it? Have they been contacted with regards the future planned sale and development of Griffin Park?
 

New Stadium Progress

i didn't think Fullers owned any part of GP, but had an old clause put in the original deeds which said that a green space has to be provided on the land for recreational purposes, or something of that ilk.

so housing/flats can be built on the site so long as their is a piece of open green space.
 

New Stadium Progress

New Stadium Progress

wanderer paul said:
i didn't think Fullers owned any part of GP, but had an old clause put in the original deeds which said that a green space has to be provided on the land for recreational purposes, or something of that ilk.

so housing/flats can be built on the site so long as their is a piece of open green space.
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likewise but apparently not!!!!
 

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markbfc said:
The bit of GP that backs on to the Princess Royal has some sort of covenant attached. A search on this website might reveal something, I did some work on this a few years back.
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Think you might find that this strip is now part of Ealing Road stand or rear of it leading onto the back of the club shop and including the Princess Royal.
My sources are quite sure that is where it is, that is why I asked on here.
 

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markbfc said:
The bit of GP that backs on to the Princess Royal has some sort of covenant attached.

https://griffinpark.org/forums/showthread.php?p=55887
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i think this is what i meant, Fullers don't 'own' any land but they do have a say as to what is built there/future ownership, i'm sure it was mentioned before that as long as an open recreational piece of land is built within any development of GP, that Fullers will agree to it as to not obstruct Brentford's plans to move to LR.
 

New Stadium Progress

wanderer paul said:
i think this is what i meant, Fullers don't 'own' any land but they do have a say as to what is built there/future ownership, i'm sure it was mentioned before that as long as an open recreational piece of land is built within any development of GP, that Fullers will agree to it as to not obstruct Brentford's plans to move to LR.
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Still would have thought that they would be party to any talks with potential developers, especially as the site entrance is likely to be somewhere close to their strip of land.
 

New Stadium Progress

Isn't it a restrictive covenant, which should be capable of being overturned by a decent property lawyer.
 
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