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Redevelopment Closer Than Ever?

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Author Topic: Redevelopment Closer Than Ever?  (Read 1823089 times)
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« Reply #30820 on: February 11, 2022, 08:08:47 am »

It's been pretty clear for some time and the owners have long laid their cards on the table. They will finish the East stand on the proviso that they recover their 'investments' so far. If any deal doesn't generate enough they won't spend anything on the ground. I think they probably realise they are never going to make a killing on the land (compared to what they have put in, the redevelopment costs, work and hassle factors etc) and the best deal for the fans is a finished ground and being debt free. I think future assurances for the club beyond this are pretty aspirational and we'll need the next generation to fulfil those.
The alternative is that nothing happens, they cut their losses and we get wound up or they walk away but can't see them just writing off the debt, not that they'd ever get it back.
We're not dealing with Ryan and Rob.

It made me think of the missing £10m and wondering if the investigation will be complete before the one on Downing Street, although they have said the later won't last more than a year.

Let's hope good news is coming.

  

Agreed....i just want to see the stand completed so we can enjoy a better ground  than we've ever had in our history.
Simple as that.
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« Reply #30821 on: February 11, 2022, 10:09:08 am »

Agreed....i just want to see the stand completed so we can enjoy a better ground  than we've ever had in our history.
Simple as that.

I believe that you have expressed the feelings of the majority.
Hopefully if today and the meeting on the 21 February have positive outcomes, it will not be subject to any more hurdles or delays in achieving that.  Wink
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« Reply #30822 on: February 11, 2022, 10:32:57 am »

I believe that you have expressed the feelings of the majority.
Hopefully if today and the meeting on the 21 February have positive outcomes, it will not be subject to any more hurdles or delays in achieving that.  Wink

Mate, if any more hurdles are put in the way, I fear the buckets will be out again to "save the club".
If I was DB I'd waving goodbye and saying "crack on with the new investors that are ready to go"!
Fingers crossed it gets signed off and we can sit in a completed stand or enjoy watching a match from a box for the first time.....
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« Reply #30823 on: February 11, 2022, 10:52:00 am »

As most on here know I’m not the biggest fan of our incumbent owners, but I just want this whole sorry mismanagement long drawn out saga to end and as WDD says have a ground with 4 sides and sky boxes for the first time in our history.
For the love of God get this over the line.
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« Reply #30824 on: February 11, 2022, 11:32:52 am »

As most on here know I’m not the biggest fan of our incumbent owners, but I just want this whole sorry mismanagement long drawn out saga to end and as WDD says have a ground with 4 sides and sky boxes for the first time in our history.
For the love of God get this over the line.

Hallelujah  Cool
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« Reply #30825 on: February 11, 2022, 14:37:39 pm »

Let us hope this is the start of the end of the redevelopment !!!
It might be the end of the start  Grin
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« Reply #30826 on: February 11, 2022, 15:06:40 pm »

Any idea what time the council announcement will happen today GPC? or are they holding off til after the zoom meeting with the trust perhaps...
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« Reply #30827 on: February 11, 2022, 15:52:14 pm »

As most on here know I’m not the biggest fan of our incumbent owners, but I just want this whole sorry mismanagement long drawn out saga to end and as WDD says have a ground with 4 sides and sky boxes for the first time in our history.
For the love of God get this over the line.

Are you not?? Huh?
You really need to state your views more clearly Wink
We all think of you as Mr Ambiguous! Grin Grin Grin
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« Reply #30828 on: February 11, 2022, 17:07:21 pm »

Any idea what time the council announcement will happen today GPC? or are they holding off til after the zoom meeting with the trust perhaps...

The plot thickens.......there is a second bidder for the land it seems.

The club also acknowledge that there is a competing bid for the land.

https://www.ntfc.co.uk/news/2022/february/statement_110222/
« Last Edit: February 11, 2022, 17:10:31 pm by GrangeParkCobbler » Report Spam   Logged

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« Reply #30829 on: February 11, 2022, 17:20:01 pm »

Just spotted that as well. Probably complicates matters more but will selling the land to someone else involve finishing the stand that someone else leases?
Time will tell but I’m 48 so time might not be on my side.
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I think someone should just take this city of Peterborough and just... just flush it down the f***in' toilet

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« Reply #30830 on: February 11, 2022, 17:30:50 pm »

You'd hope the zoom meeting with the trust that was scheduled to take place today at 6pm, will clarify who the second bidder is, and what their intentions are for the land etc.

Would be a typical Cobblers scenario that after all this, the council sell to the other interested party for a few quid more, and we're left with the current east stand monstrosity for forever more...

Think most will be fvcking fuming if that happens...not least KT/DB

Has the red book land valuation figure changed from the original valuation btw?
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« Reply #30831 on: February 11, 2022, 17:36:50 pm »

Ever changing situation...

Northampton Town: Cobblers land deal beats off developer bid

https://www.bbc.co.uk/news/uk-england-northamptonshire-60353977

A deal which will see a football stand completed looks set to go ahead despite a last-minute bid from a third-party developer.
West Northamptonshire Council said Northampton Town's East Stand would be finished as part of plans to develop land around Sixfields Stadium.
A deal worth £890,000 had been agreed in November but was later put on hold.
The council received a separate £2.05m bid for the land but plans to reject this in favour of a deal with the club.
A final decision will be made at a meeting of the authority's cabinet on 28 February, while the decision will be debated an extraordinary council meeting on 21 February.
The East Stand was supposed to be refurbished using money from a £10.25m loan but work stalled in 2014.

The cash had originally been loaned to Northampton Town in 2013 by Northampton Borough Council to rebuild the stand and develop land around the ground.
The borough council has since been replaced by West Northamptonshire Council as part of a unitary realignment of local government in the county.
Work on the stadium was not completed after contractors went unpaid.

In November, an agreement was announced that would have seen the council sell the land to County Developments Northampton Ltd (CDNL), which is owned by the football club, for £890,000.
The land deal was not to be completed until the East Stand development was finished.
The £890,000 figure had been reached following an independent valuation.
But it emerged that valuation was not sufficiently robust and the process was put on hold while a second report was sourced.
The council said a competing bid of £1.8m was then submitted by a property developer, Cilldara.
Both bidders were asked to submit final bids.
This process saw CDNL tweak its offer, maintaining the £890,000 price with extra assurances the land would be bought for its full value.
The new plans stated if the East Stand is not completed within five years, the council would have the option to buy the land back for £1.
Cilldara, meanwhile, increased its offer to £2.05m.

The council's cabinet member for finance, Malcolm Longley said the authority could not be sure it could bring an end to a lease covering the land "without the agreement of CDNL, and there is a risk of expensive litigation if it tries to do so".
He said the authority needed to consider not just the money on offer but the risks involved in each case.
Mr Longley said "the recommendation of officers to accept the CDNL bid is, on balance, the most prudent option and therefore the intended route forward."
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« Reply #30832 on: February 11, 2022, 17:39:04 pm »

Think its a bit premature to say one bid has beaten off the other at this stage......
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« Reply #30833 on: February 11, 2022, 17:45:14 pm »

Think its a bit premature to say one bid has beaten off the other at this stage......

The plot thickens. It looks like the land will be sold for development, it's just a matter of to who?
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« Reply #30834 on: February 11, 2022, 17:45:27 pm »

You'd hope the zoom meeting with the trust that was scheduled to take place today at 6pm, will clarify who the second bidder is, and what their intentions are for the land etc.

Would be a typical Cobblers scenario that after all this, the council sell to the other interested party for a few quid more, and we're left with the current east stand monstrosity for forever more...

Think most will be fvcking fuming if that happens...not least KT/DB

Has the red book land valuation figure changed from the original valuation btw?

Two schools of thought here surely. Yes, we're all Cobblers fans and hope that it is the CDNL bid that gets over the line, but there are a great many people (tax payers) in this town who are anti-Cobblers, and the 10.25m fiasco is fresh in the mind still.
How does it sit with the masses if the Council turn down another million+ to go with the lower bid.

Of course, its justifiable on the grounds described, ie more likely to go through and be completed, but I can see how this will look to some.

Everyone has to tread carefully here.......

Interestingly...to me at least..... is that the rival bid DOES NOT INCLUDE the running track area, therefore leaving that area with the club. Clever move....as that would still leave the scope for the club to redevelop/complete the stand unhindered.
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« Reply #30835 on: February 11, 2022, 17:50:41 pm »

From the council document..... specifically relating to the stand.... these are the Councils requirements

Appendix 1
The East Stand would be required to include as a minimum:
 10 hospitality boxes
 Boardroom area
 Restaurant and bar areas
 Kitchen area
 Viewing area for spectators with disabilities
 At least 300 additional seats
 Classroom areas suitable for educational use for children and young people under the age of 18
on non-matchdays
 Community use areas for non-match day use
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« Reply #30836 on: February 11, 2022, 18:00:55 pm »

From the council document..... specifically relating to the stand.... these are the Councils requirements

Appendix 1
The East Stand would be required to include as a minimum:
 10 hospitality boxes
 Boardroom area
 Restaurant and bar areas
 Kitchen area
 Viewing area for spectators with disabilities
 At least 300 additional seats
 Classroom areas suitable for educational use for children and young people under the age of 18
on non-matchdays
 Community use areas for non-match day use

Obviously not what the trust or many fans would have wanted but I think with the reality of today and a very real alternative possibility of nothing  if we can achieve that in the next 18- 24 months most would be happy.
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« Reply #30837 on: February 11, 2022, 18:05:19 pm »

Cilldara Group Holdings Ltd.... registered in Henley-in-Arden.....
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« Reply #30838 on: February 11, 2022, 18:05:53 pm »

Good Evening!

As a Northampton council tax payer I have a vested interest in this subject. I feel I’m in a more privileged position to most of you as I’ve just actually sat in the unfinished stand to watch a football match.
I thought it was a rubbish experience and want my tax money back!
Seriously many of my County acquaintances ask me about the stand and money situation and I always direct them to this thread and tell them to read it from page one. I haven’t heard from them since…

Hopefully something positive comes out of these latest meetings!

Phil in Northampton
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« Reply #30839 on: February 11, 2022, 18:40:08 pm »

Interesting development but still think CDNL hold the upper hand.
If the other bid was £10m more we may be struggling. However, a million plus change is nothing. Not if it means the stand is left as it is. It may scratch the legal bill on the Cardoza case. However unconnected the council want to be, it’s the towns football club. You can put nothing beyond them but I’d be amazed if they sold to an outsider for a few extra quid. Malcolm Longley alludes to this in his recommendation.
I very much doubt there’ll be much public interest (from the Cobblers haters, or uninterested) that they may sell it for £1m less than it could potentially realise. What benefit would anyone see? £30 off your council tax, shopping basket or fuel bill? It would make zero difference.

This will actually play into the hands of KT and co by providing more vocal support from the Cobblers support…above the 97% whatever it was.  Tongue
Can you imagine the Trust banging the blocking drum when there is someone sitting on the sidelines to gobble the land up, regardless of leaving us a bit with an option to develop.
The Cobblers masses need to quickly align.
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