Goldstone Park Valuation

Steve Foster

Well-known member

Dec 15, 2008

9,803

Formerly the nice bit in Hove, now Caroline Lucas

• Jun 24, 2013

• #1

Interesting to note that the Retail Park which is owned by Scottish Widows Investments is currently valued at £39,975,000 within the SWIP Property fund (May 2013).

I believe, but cannot confirm that this is downgrading valuation - however, that is a lot of asset, for so few retailers on one site.

 

chimneys

Well-known member

Jun 11, 2007

3,589

• Jun 24, 2013

• #2

An asset valuation at that level would only need a rent roll of c£2.1m, assuming a 5% net initial yield. With those 5 Tenants/size of units, prominence of pitch etc, doesn't look far off.

Also don't think yet implemented, but SWIP got permission for 2 additional pod units in the car park in August 12, which adds value.

 

D

dougdeep

New member

May 9, 2004

37,732

SUNNY SEAFORD

• Jun 24, 2013

• #3

You'd never get planning permission for a stadium there these days. Insufficient transport links and unacceptable congestion.

 

Icy Gull

Back on the rollercoaster

Jul 5, 2003

72,015

• Jun 24, 2013

• #4

F*** just seeing that has brought it all back. Now that was something to get our knickers in a twist about

£6.3 million ( or maybe 8) was it to pay off the debts and then the shenanigans of knocking the ground down and selling the land on for 22 million a year later?

 

seagurn

Well-known member

Feb 19, 2007

1,971

County town

• Jun 24, 2013

• #5

Thought it was 4 months later ......can feel the red mist coming down now

 

Randsta

New member

Aug 8, 2011

2,997

Eastbourne

• Jun 25, 2013

• #6

Move on.......

 

Return of the Rev

Well-known member

Nov 26, 2008

21,045

Flitting between the county league and mates rates

• Jun 25, 2013

• #7

We sold for 7.7 million developed and resold for 24 million

 

Lord Bracknell

On fire

Jul 5, 2003

39,499

104 Upper Grosvenor Street, Mayfair

• Jun 25, 2013

• #8

Return of the Rev said:

We sold for 7.7 million developed and resold for 24 million

Click to expand...

"We"? Who is this "we"?

 

Seagull on the wing

New member

Sep 22, 2010

7,458

Hailsham

• Jun 25, 2013

• #9

Icy Gull said:

F*** just seeing that has brought it all back. Now that was something to get our knickers in a twist about

£6.3 million ( or maybe 8) was it to pay off the debts and then the shenanigans of knocking the ground down and selling the land on for 22 million a year later?

Click to expand...

Very close....sold £7m....re-sold £24m.....but what's a couple of million between friends...?

 

Seagull on the wing

New member

Sep 22, 2010

7,458

Hailsham

• Jun 25, 2013

• #10

I don't get this red mist stuff....looking back it was emotional because of the memories but honestly....would you rather still be there or the Amex...?

 

Lush

Mods' Pet

Jul 5, 2003

13,409

Wherever I lay my hat, that's my hat.

• Jun 25, 2013

• #11

Seagull on the wing said:

I don't get this red mist stuff....looking back it was emotional because of the memories but honestly....would you rather still be there or the Amex...?

Click to expand...

Some of the answer is in where the difference between £7m and £24m actually went.

 

Icy Gull

Back on the rollercoaster

Jul 5, 2003

72,015

• Jun 25, 2013

• #12

Lush said:

Some of the answer is in where the difference between £7m and £24m actually went.

Click to expand...

and the shit we endured for a number of years afterwards is also part of the answer.

 

chimneys

Well-known member

Jun 11, 2007

3,589

• Jun 25, 2013

• #13

Lush said:

Some of the answer is in where the difference between £7m and £24m actually went.

Click to expand...

£7.4m was land price the scumbags got for the Goldstone. £23.86m was completed development sale price Chartwell sold it to Abbey Life for.

The £16.46m diff is therefore a mixture of build cost, stamp duty, legals, holding cost, bank finance, design, letting fees etc as well as a lot of profit to Chartwell.