Phase 2 land development costs

[Tangible Fixed Assets anyone? 0]

The costs related to a phase 2 land development deal include:

                                                                                                                               £k.

a) Land bought by Chase  (interest free)                                                                  880 

b) Land bought by Delia''s regime - ex LSE                                                           2,750

c) Land bought by Delia''s regime - ex Norwich City Council                                   900

d) Interest on a £2.5 m loan at say an average of 6% (base + 2%) over 5 years       750

e) New Spine Road in the 06/07 Accounts (page 8)                                             1,200

Sub total                                                                                                             £6,480k

 

Then you may have to add some of money spent on new roads around the stadium (depending on whether they are part of phase 2 or not) mentioned in the 05/06 Accounts page 8. Presumably there has also been some professional fees too.

Thats alot of costs to recover before NCFC. make any money!

 

                       

[Mr.Carrow 376]

Thanks, really interesting. Simplistic i know, but the land is now supposedly worth about £10million but a large chunk of that (assuming it will ever be sold.....) will go towards a multi-storey carpark and paying back debts. It all looks like a time-consuming, expensive, distracting and ultimately quite pointless exercise.

[still holding out for new heroes 0]

I still dont understand with all the Irish players and staff we''ve had over the last few years, how it cost us over a million to get a road tarmaced...

[O.T.B.C 0]

 

Brilliant mate, made me chuckle.

[Tangible Fixed Assets anyone? 0]

I think we can assume at least a couple of million for the multi storey car park.

[Desert Fox 0]

alf a witter

I realise that this was a light hearted response, but Irish GDP per capita exceeds ours and most of Europe and anyone who has ben to Dublin recently will confirm that its full of UK construction workers. The boot is on the other foot now to some extent.

 

[Tangible Fixed Assets anyone? 0]

Here''s one I posted earlier (23/10/07) :

Bury Green,

The Phase 2 development has been known about for quite some time and there are documents that are lodged with the Planning Dept. of Norwich City Council, City Hall that can be examined by the members of the public. All people have to do is present themselves at the reception desk of the Planning Dept. and ask for them!

Details of the planning application were discussed at the 26th July 2007 Planning Applications Committee and the report can be downloaded from the page : http://www.norwich.gov.uk/webapps/meeting_minutes/Meetings.asp?meeting=specific&mid=1784&id=

The report is titled: ''NCFC Carrow Road / Land at Kerrison/Hardy Road''

It has also been on the front page and inside pages of the Norwich Evening News this year but I suspect that may be you and Bury Yellow live near Bury St Edmunds so you may not be aware of that. However it has been reported on the home page of this (Pink Un) site too.

As for the value of the land it will only help to clear part of the debt and finance the multi storey car park that needs to be built by the Jarrold stand to replace the parking spaces lost to the land development. Its not going to be a magical pot of gold that makes this club worth a fortune! 

 

[Mello Yello 2,273]

It''s not going to be a magical pot of gold that makes this club worth a fortune! 

Well let''s hope there isn''t going to be a depressing ''Crock of Sh*t'' either, that creates more debt and misfortune.

I accept that we require ''other forms of revenue'' to ''top up'' the coffers and maybe/occasionally contribute to the maintenance of, and upkeep of the distracting ''on the pitch projects''......But it certainly is a slow train coming........unless it''s ran out of steam, been derailed - or diverted via a longer route.[^o)]....."Choo! Choo!"

  

[Carlos Valderrama 0]

This is the long haul ride I am afraid.  I can understand why the club are trying to generate additional income, if we can get to a level where we can compete without the need for TV income then that can only be good for the club.

If we do manager to ever get ourselves promoted and consolidate our position in the Premier League then this extra income over and above the TV revenue will give us an advantage over all but the big 4 (make that 6/7).

At some stage the sugar daddys are going to take there ball home.  At some stage the debt is going to catch up with the borrowing brigade.  Maybe then we will have our day again.

All ifs, buts and maybe''s.  Purely hypothetical and just my opinion.  Plus if we the worst case scenario hits and we are relegated then this tactic will have been a total waste of time.

[GMF 735]

[quote user="Canary Nut"]

The costs related to a phase 2 land development deal include:

                                                                                                                               £k.

a) Land bought by Chase  (interest free)                                                                  880 

b) Land bought by Delia''s regime - ex LSE                                                           2,750

c) Land bought by Delia''s regime - ex Norwich City Council                                   900

d) Interest on a £2.5 m loan at say an average of 6% (base + 2%) over 5 years       750

e) New Spine Road in the 06/07 Accounts (page 8)                                             1,200

Sub total                                                                                                             £6,480k

 

Then you may have to add some of money spent on new roads around the stadium (depending on whether they are part of phase 2 or not) mentioned in the 05/06 Accounts page 8. Presumably there has also been some professional fees too.

Thats alot of costs to recover before NCFC. make any money!

 

                       

[/quote]

The thing I''m really interested in here is the timings of these various acquisitions? Did any, for example, occur after we got promoted to the Premiership, when we were being told there was no money available to buy a striker?

Some things just don''t seem to add up here.