Betty Swallicks Posted October 6, 2011 Share Posted October 6, 2011 what great time to sell just as the property market is about to collapse About? Link to comment
Betty Swallicks Posted October 6, 2011 Share Posted October 6, 2011 If Stewart Milne has any sense SMG wont bid, therefore peeing on the chips of many a conspiracy theorist. Realistically though, SMG is the biggest house builder in the NE, they will bid. According to tonights Evening Depressed SMG will bid. AFC hope to get bids in the region of Link to comment
spamspamspam Posted October 6, 2011 Share Posted October 6, 2011 Any experts out there able to let us know what the potential return could be if the club developed the site itself rather than sell it on to a third party developer? Asked a certain director the same question about a year ago... BUT, it would also open the club up to more risk - if the development went badly (eg unforseen costs, property slump) and turned into a loss, it would most likely bring down the club. Was one of the reason given. The others was the cost of redeveloping the site and the money needed to build the new stadium. If AFC were to do an Arsenal then they'd have to beg, borrow and creative account to make sure they had the money to finish the building of all the flats while also finding another 30m or so to build the new ground. Then they have to wait for people to buy... if there are around 350 houses all going for 200K each and they only sell 200 of those straight away it leaves another shortfall of 30m. Even having 50 left that still means the bank or whoever else funds the building of the flats, houses and the new stadium 10m short until they are all sold. My preferred option - if there were any - would be for AFC to have a percentage clause in the sale of the ground. Sell it for 15m and ask for 10% of the income from all the new builds. Means the club is only a few mill short of the sale value but would take in a lot more in the long run so almost everyone is a winner. We also have one of the most successful builders in the UK as chair, if he cant manage to make somehting like that work then no one could. Link to comment
zander Posted October 6, 2011 Share Posted October 6, 2011 what great time to sell just as the property market is about to collapse Aberdeen is bucking that trend iirc. Link to comment
slippers Posted October 6, 2011 Share Posted October 6, 2011 so after the stadium is built we are looking to have a debt of around 20-25m but it will be a mortgage instead of a loan meaning payments will be alot less and easier to maintain over the duration? Link to comment
fatshaft Posted October 7, 2011 Share Posted October 7, 2011 so after the stadium is built we are looking to have a debt of around 20-25m but it will be a mortgage instead of a loan meaning payments will be alot less and easier to maintain over the duration?Suggestions are it will be a lot lower than this, but who knows. There's certainly still a lot of black holes in the funding plan. Link to comment
Jazzer_Bett Posted October 7, 2011 Share Posted October 7, 2011 With you on that one VM - its a rabbits warren, fuck living in that, nay space to breath-! All ye n££d is a roof and faur 'wall ye ken Link to comment
beer gut Posted October 7, 2011 Share Posted October 7, 2011 Milne shouldn't be allowed to bid for the land. He's bound to have a contact inside the club who will tell him the bids that come in??? Complete conflict of interest IMO. Plus his houses are pish. Link to comment
fatshaft Posted October 7, 2011 Share Posted October 7, 2011 Milne shouldn't be allowed to bid for the land. He's bound to have a contact inside the club who will tell him the bids that come in??? Complete conflict of interest IMO. Plus his houses are pish.That's highly unlikely and I'm sure illegal. And even if he did, so what, that would mean he'd have the highest bid, and have paid more, and AFC gotten more than may otherwise have happened. Who fucking cares who builds some shitey houses in a shite part of Aberdeen? Link to comment
Redstar Posted October 7, 2011 Share Posted October 7, 2011 That's highly unlikely and I'm sure illegal. And even if he did, so what, that would mean he'd have the highest bid, and have paid more, and AFC gotten more than may otherwise have happened. Who fucking cares who builds some shitey houses in a shite part of Aberdeen? Have to agree with FS on this one...the sale of Todders is inevitable and has been for some time...I just hope Milne does the decent thing...Pay 25m and sever all ties with the club.Would probably allow him to walk the streets of Aberdeen without fear of verbal abuse from some irrate Dons fan...which must be a real possibility if he fancy's a trip to Union Square or any boozer in Aberdeen...Go on Stewart show us some fuc*king gratitude Link to comment
Mouse Posted October 7, 2011 Share Posted October 7, 2011 Do not want. It's fate though, and will be happening in less than 2 years Link to comment
baconman Posted October 8, 2011 Share Posted October 8, 2011 Ok AFC is approx 12m in debt. The cost of a new stadium is 35m and they plan to sell pittodrie for 20m. I am nae the best at maths but my arithmetic does tell me this doesn't add up?? They need to be selling pittodrie for at least 47m to break even and we know that aint going to happen? Link to comment
Jazzer_Bett Posted October 8, 2011 Share Posted October 8, 2011 Baconman been over this a million times. Part of the shortfall will from naming rights with the remaining coming from a long term mortgage-I.E. No Link to comment
The Boofon Posted October 8, 2011 Share Posted October 8, 2011 Baconman been over this a million times. Part of the shortfall will from naming rights with the remaining coming from a long term mortgage-I.E. No Link to comment
bonzodaddy73 Posted October 8, 2011 Share Posted October 8, 2011 I see that fud Tam Cowan in the Daily Ranger is calling the new stadium the "Ewe Camp" Link to comment
slippers Posted October 8, 2011 Share Posted October 8, 2011 Ok AFC is approx 12m in debt. The cost of a new stadium is 35m and they plan to sell pittodrie for 20m. I am nae the best at maths but my arithmetic does tell me this doesn't add up?? They need to be selling pittodrie for at least 47m to break even and we know that aint going to happen?We are not whipping out all her debt we will still have a debt of between 10 and 25m but it will be managed as a mortgage instead of a loan. Link to comment
RUL Posted October 8, 2011 Share Posted October 8, 2011 We are not whipping out all her debt we will still have a debt of between 10 and 25m but it will be managed as a mortgage instead of a loan. That's not quite true, AFC are not going to be in a position to turn secured loans, at high interest rates, into a low paying mortgage, when Pittodrie is sold the debts that currently reside will be paid off in full. AFC believe that Pittodrie will sell for around Link to comment
RUL Posted October 8, 2011 Share Posted October 8, 2011 That's highly unlikely and I'm sure illegal. And even if he did, so what, that would mean he'd have the highest bid, and have paid more, and AFC gotten more than may otherwise have happened. Who fucking cares who builds some shitey houses in a shite part of Aberdeen? Its illegal but you'd be off your head to think it won't happen, other building companies will probably suspect it will happen also. It can work in the way you think or could work the other way, with no companies getting in a bidding war as they think Milne will fk them over anyway, hope your right. Link to comment
Coopy100 Posted October 8, 2011 Share Posted October 8, 2011 I see that fud Tam Cowan in the Daily Ranger is calling the new stadium the "Ewe Camp"To be fair that is the funniest thing Tam Cowan has ever had published in the daily record/retard/ranger/shitfuckingpaper (delete as applicable) Link to comment
muttondressedaslamb Posted October 8, 2011 Share Posted October 8, 2011 Someone said on Off the Ball that the stadium will be called the Nik Kershaw arena - big in the 80s but done nothing since. Craig Broon is on as a guest today Link to comment
beer gut Posted October 8, 2011 Share Posted October 8, 2011 That's highly unlikely and I'm sure illegal. And even if he did, so what, that would mean he'd have the highest bid, and have paid more, and AFC gotten more than may otherwise have happened. Who fucking cares who builds some shitey houses in a shite part of Aberdeen? It's illegal yes but if you think it doesn't go on you're kidding yourself. Milne should either develop the site at cost through SMG on behalf of AFC and all profits got to AFC or sell it to an INDEPENDENT developer. If he wins the bid it will bad for AFC put us in the news for the wrong reasons IMO. Link to comment
bonzodaddy73 Posted October 8, 2011 Share Posted October 8, 2011 To be fair that is the funniest thing Tam Cowan has ever had published in the daily record/retard/ranger/shitfuckingpaper (delete as applicable)You might be right there. I met him once at a quiz night thing years ago and he was a total bellend! He got all arsey because I stumped him with a question. Chick Young was there also and ripped the piss out of him for not knowing it. Link to comment
Jazzer_Bett Posted October 8, 2011 Share Posted October 8, 2011 I'm placing a bid of 50 pounds for it to be called the Boofon Arena. That reduces the mortgage a touch. Well you'd fail the fit and proper persons test so that's a non starter. Dumb haircut anyway, creep Link to comment
The Boofon Posted October 8, 2011 Share Posted October 8, 2011 Well you'd fail the fit and proper persons test so that's a non starter. How could you possibly know that? Dumb haircut anyway, creep Qu Link to comment
Jack_Glass Posted November 13, 2011 Share Posted November 13, 2011 In terms of a mortgage style repayment plan, would it not be best to set this up as an OFFSET mortgage against Milnes business savings? This would keep the interest lower & enable us to pay it off quicker. Link to comment
Pudgie Posted November 13, 2011 Share Posted November 13, 2011 It's illegal yes but if you think it doesn't go on you're kidding yourself. Milne should either develop the site at cost through SMG on behalf of AFC and all profits got to AFC or sell it to an INDEPENDENT developer. If he wins the bid it will bad for AFC put us in the news for the wrong reasons IMO.I know! How dare we give it to the highest bidder?! Complete joke of a club. Link to comment
Jazzer_Bett Posted December 15, 2011 Share Posted December 15, 2011 http://www.bbc.co.uk/news/uk-scotland-north-east-orkney-shetland-16184565 Closing date today. Got to presume SMG have this in the bag - what other housing developer would take that on right now?? Milney will milk it and see it as "his legacy". Anyone ken of any other submissions (if any?) Link to comment
vanderark14 Posted December 15, 2011 Share Posted December 15, 2011 any word on when we find out who won the contract? Link to comment
vanderark14 Posted December 15, 2011 Share Posted December 15, 2011 http://www.bbc.co.uk/news/uk-scotland-north-east-orkney-shetland-16184565 Closing date today. Got to presume SMG have this in the bag - what other housing developer would take that on right now?? Milney will milk it and see it as "his legacy". Anyone ken of any other submissions (if any?) plenty of developers will be looking for land to build on. Link to comment
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