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by Andrew6726/2/2014 10:25Wed Feb 26 10:25:34 2014
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Multi million pound offer.......
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Got to say thank you to the Chairman as seemingly (see twitter feed) as seemingly a multi million pound offer has been made for the freehold - of a ground that has flooded causing games to be postponed . The freehold property seems to be fit for just one purpose - football. Who'd buy a house likely to flood? Could you get insurance? The current residents would be up in arms if someone proposed commercial property in the area.Seemingly the current owners of the property haven't even replied .....
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Re: Multi million pound offer.......
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Never mind multi million pound offer, the real mystery is we’re has the money come from, as we all thought that the football club did not have two pennies to rub together???.
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Re: Multi million pound offer.......
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First time poster. Not a fan of any specific club just enjoy football and have been to Wheatsheaf Lane many times.
This I see as very worrying. You say that a multi million£ offer has been made for a piece if land that can only be used for football.
Do you really think any company/individual would just buy some land for £ millions so that some amateur footballers can use it twice a week? Why would they? What is the benefit to them? Unless they are extremely rich Staines Town fans and if they were they would surely have come out of the woodwork way before now.
I have though ever since Mr Boon sold the club that it was likely to be developed for housing. Particularly so when I saw that some of the investors who have now moved on were from I think China or Hong Kong? So clearly they have a real emotional tie to Staines Town FC. I do not know the people but it seems possible to me they were in it for a quick turn and when that did not occur they moved on.
I work as a consultant in new build planning applications and I can assure you flood issues can be mitigated by construction methods with flood risks in mind. The local authority have targets to hit for new build homes and a development on a site of this size would be looked at very favourably.
I agree there will be many concerns from existing residents but they rarely succeed in stopping planning- they often reduce the number of units but that is about it in 90% of cases.
Look on google maps at the amount of land behind the ground and large gardens on some of the houses further along Penton Hook Road.
I am given to understand that some of the people who own some of this land have been approached to see if they are interested in selling. I know someone who owns a piece of said land which is how I am aware.
People involved in housing development are often prepared to wait for years to put a scheme together.
I would be concerned and far from happy.
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Re: Multi million pound offer.......
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Indeed, a multi-million pound offer has been made. The offer is at the latest commercial value for the land. It has been made to secure the footballing future for a club with a very long history. Longer than either the Thames Club nd Downings LLP. I am not a qualified surveyor, nor civil engineer, but my working experience does include a long time (25 years plus) with the Costain Group. I also am fully aware the press and TV documentaries, of the anguish caused to people from living in properties liable to flood damage. The difficulties with insurance, the infrastructure etc. I am also aware, from my accountancy background that assets must be recorded at the lower of cost, or net realisable value. If the carrying value of the freehold in the books of the Thames Club exceeds the current valuation (offered by the football club) the the assets should be written down in the books of the Thames Club. It should be noted that companies were afforded a 3 month extension for filing their accounts. The Thames Club 2019 accounts are yet to be file. The filing deadline is 31 December. The accounts must reflect the company's position at the filing date. They need to recognise the adverse trading conditions that have affected the Thames Club in the pandemic, including the fact that they are closed again for the foreseeable future. This should also reflect the fact they have struggled to produce any profits since they started trading. I would be very worried if any advisors had asked me to invest in the Thames Club and to see the value of my investments shrink. The sensible option would be to accept the offer made by there football club to at least repay a part of there investment.
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Re: Multi million pound offer.......
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Anski, jog on mate back to Downing mate - the correct term for a bloke like you is arse clown, the site is flood plain and will Never be able to be used for residential development. When you go back to your pals at Downing could you do us all a favour and tell them to get the fuck out of our local community ?? MUG.
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Re: Multi million pound offer.......
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No problem to me old chap. You can be rude on a screen big man. Fact is there are any number of development that have been built on flood plains. If you think that any company is going to buy a football club or ground for millions of wonga good luck. Ir
T May bé that there is a ulteristic individual who cares passionately about Staines Town of course. Fuck wit
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Re: Multi million pound offer.......
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And if I had any beef with Staines Town I would have been here taking the piss in the last few years when there has been instability and relegation but I am not in any way anti the club. If you think that in your tiny mind that is your problem not mine. Suggest that you do your homework and stop stamping your little feet and having a tantrum. All the best
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Re: Multi million pound offer.......
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Pretty sure all this was answered in the fans Q&A for supporters club member Obviously you aint a supporters club member and unfortunately for u it probably wasn't in Downings monthly news letter embarrassing under cover Downing thames club spam. Pack up and leave. Not wanted in Staines
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Re: Multi million pound offer.......
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Sadly some questions in the Q & A were neatly swerved.The points raised by Swanvesta are particularly relevent.
Its also good to get the perspective from an expert such as anski as it gives everyone, no matter there views, a better understanding of the key issues .We should be trying to encourage anski to make STFC his club-afterall the numbers at games have dropped dramatically over the last couple of years. New supporters are in short supply .Moronic attitudes are not the best incentive to attract new supporters.
With the future so unclear we could very well be in need of someone with planning expertise to help save the club if this latest scheme fails to materialise.Just say for instance that the current owners decided enough was enough.
What is pretty sure is that anyone investing £millions will expect a healthy return and a planned exit route.
Edited by Norm at 16:52:37 on 22nd December 2020
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Re: Multi million pound offer.......
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Sadly the Thames Club Limited have not yet filed their accounts. Bearing in mind 25 nd 28 December are bank holidays, filing times seem very short. A multi million offer has been made for the freehold to guarantee the long term survival of the club. Thirdly, there is a partner of Downings LLP on the board of the Thames Club. The majority of the shares in the Thames Club (96%) are hell by TT Nominees. This is for administrative purposes - and represents "a number of investors." The voting control of those shares is operated by Downings LLP. Downings LLP refuse to answer simple question - not just "swerving' but keeping their mouths shut - no comments at all. It is also a matter of fact (as are the previous comments) that the Thames Club have yet to give any return to investors by way of dividend since it has been trading. It is no fault of the Thames Club, nor Downings, that the pandemic has necessitated the closure of the Thames Club activities for 2020. My guess would be that no dividend will be declared for this year. The questions therefore are why would anyone invest in the Thames Club. They are not in the business of Property development according to their definitions in their company accounts. The same is true from a review of the Downings accounts. Possibly both parties see property development as a fortuitous route out of the situation. This is dependent on land values in todays market. I understand the football club had the freehold valued and made an offer based upon the latest commercial valuations. We must remember the housing market is currently buoyed by the "stamp duty holiday". However, in a climate where people are worried about their jobs - moving house is not currently a priority formally people. The housing market is depressed and the Government are trying to kick start development and struggling. There is no planning permission for Wheatsheaf Lane. The questions that need to be answered are by the Thames Club and by Downings. They need to be transparent about their intentions and why an investment in the Thames Club is worthwhile.
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Re: Multi million pound offer.......
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if u are still a member at The Thames Club Norm and still mates with peter then probably time to decide whos side ur on as well Ur membership is best part of a grand a year according to the cost on theames club website. U are paying more into The Thames Club than u do to the football club so unless u are gonna make that offer and put ur money where ur mouth is like our owner is doing then its probably better to stay quiet pal UNLESS U HAVE ANY OTHER SOLUTIONS OR U JUST COME ON HERE WITH PROBLEMS ?
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Re: Multi million pound offer.......
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Norm u have always had a very strong opinon on the problems at Staines - If u are so concerned why dont u buy the building ? dont see anybody other than the current owner lookign to save the club . dno why you spend sp much time complaining about it. why dont you do something about it and make an offer? big opinions = big finance ? can u put ur money wheree ur mouth is ? pretty sure in Q&A the owner sed hes only looking to develop the football and nothing else. are you still a member at The Thames Club norm ? how is peter ?
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Re: Multi million pound offer.......
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There is no way he is going to buy the Thames Club for millions and then not look to redevelop. He and any other investors will only get their money back by looking at building housing on the current site. Not sure why some people seem to be in denial of this. If as a consequence it's good for the club and secures it's future then sounds great. Couple of things that do come to mind though are if he can make this offer, why was he asking fans to fund the players wages and if he is going to make this investment, will this mean there will be any budget for the team? Secondly if there are houses all round the ground then that limits and expansion for the club if/when they start to move up the leagues? Sure this has been looked at and apologies if I have missed anything that has previously clarified these points. Norm - spend your hard earned money where and how you like!
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Re: Multi million pound offer.......
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We have been over this before. You'd better go back to easting your vegetarian sausage rolls. The points really are that the chairman has promised football at Wheatsheaf Park in perpetuity. The aim, in the long term would be to make the club self sufficient. Money in, winning team, better crowds, more income, improve the team. The major problem at the ground would be a promotion to the National League when crowd segregation comes into place. However, even at that point, if we owned the freehold, the stands at either side of the pitch could be developed ........ As for any residential or commercial development .... Global warming has led to an increasing occurrence of flooding in our country. More specifically from the Thames in our area. Ask residents how frequently they get flood warnings now, and compare that with how many times five years ago. the laws now are that residents go after the developer, and if they no longer exist, the council carry the can. Sadly our council do not have Avery good track record over property at present and to open themselves to potential flooding claims would be madness. Flood diversion down river doesn't work - see Chertsey plains after diversions were put into place at Windsor. This leaves very expensive (ultimately to a buyer, foundation protection for any development, including protection of the infrastructure as well as the properties. Then you have to look at the insurance companies and how likely they would be to look favourably on buildings insurance in a flood plain.
By all means spend your money as you see fit. However, the Thames Club appear to be late in filing their 2019 accounts. You can tell me the reasons but please let me know how you think their trading position for 2020 has been. Bearing in mind they have yet to make a profit since their foundation, let me know why on earth you would invest in the shares of the Thames Club. Whilst waiting for your answer, I'm going for a pastie.
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Re: Multi million pound offer.......
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Understand what you say but that still doesn't answer the question of how the chairman and any other investors are going to get their money back?........You think they will from the football club? If what you say is true re the flood issues then that would make an investment even more unattractive? Haven't a clue about why the Thames Club haven't filed any accounts and I haven't got any shares invested. Interested to understand how the Thames Club failing will help the club? This wouldn't mean they would sell to the chairman - it would go onto the open market and allow other buyers to have the opportunity? How would they then view the football club?
Real shame about the manager leaving as well. They were starting to look a good side.
Great humour around the Gregs bit as well.......first time I've heard that..............
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Re: Multi million pound offer.......
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The Chairman has already made a commercial offer for the freehold . We must assume, with his property background he has professionals valuing the freehold for him. He has the best interests of the club in his heart. He carried out due diligence work before buying the club. His co-investors have all departed, but he has remained. It's called loyalty. I was critical of him in the past - but I recognise he has the best interests of the club at heart. If the Thames Club go bust, then they will appoint receivers who legally must dispose of the assets at the best prices available at that time. This really constitutes a "fire sale". They cannot wait till the market improves. The offer has, seemingly, already been tabled. There is a willing buyer - and in the case of administrators, a seller. So we are talking about the future of the football club - and a Chairman, who in really bad times, got his boots out of the loft and played for the team so that we could fulfil our fixtures. I am told by those who watch the away games he was man of the match in at least one of the games. Our job is to get behind the club and the Chairman, support the team and trust that we again get a decent new manager.
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Re: Multi million pound offer.......
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Why do you perceive this as an attack on the chairman? Don't know him or ever met him. I'm not questioning his interests for the club - in fact I would love him to make money from it as that would mean the club is successful and thriving. The receiver would need to show due diligence for the creditors and would go out to the market - they wouldn't just take the first offer that was made.
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Re: Multi million pound offer.......
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There is already an offer on the table ......... the receivers would rightly have to take the best offer. bIn the current economic climate it makes no business sense for anyone to be buying freeholds ...... people working from home - who needs offices? Job uncertainty - who will buy. I admit no stamp duty has buoyed the market, and seemingly there is a lot of overseas investment in our property market, where an unregulated (probably unsustainable) uncapped rental market attracts multiple home ownership. The scope of that is somewhat limited. As I say, there is already one offer on the table at a realistic valuation ........
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Re: Multi million pound offer.......
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I think the biggest concern for STFC fans at this stage should be Downing/Thames Club stepping in and preventing the Swans playing long term football at WP, from what I read on the supporters club Q&A they are able to step in during a break in the lease in several years time. They are absolute Scum ... They have already turned off power to the supporters club shop which is a direct attack on supporters but it also proves they will do whatever they can to push out the football club. <<<< This is the concern right now.
FYI Gregs, in the same Q&A which was handled by the supporters club, our chairman confirmed he would provide the Swans with a long term agreement to play football at Wheatsheaf Park.
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Re: Multi million pound offer.......
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Thanks for confirming that BigBadSwan - that's good news
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Re: Multi million pound offer.......
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An expert like Anski ... LOL ... that did make me chuckle.
If anyone actually thinks that is a real person they need their head checking.
Maybe Downing should stop hiding in the shadows and creating fake accounts on a supporters forum. Anyone that even mentions their name on twitter gets blocked, they are trying to silence people because they don't like the truth.
Tier 4 brings another forced closure for the Thames Club, more lost revenue and more questionable finances no doubt... Isn't it time they submitted their accounts , or are you not interested in that surreysage ?
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Re: Multi million pound offer.......
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First Time poster who just happens to be a consultant in new build planning LOL
Any real fan reading this needs to mark this down as a Downing/Thames club spam
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