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Record £959m buys Chelsea Barracks for developers

#1
http://property.timesonline.co.uk/tol/life_and_style/property/article3285501.ece

From The TimesFebruary 1, 2008

Record £959m buys Chelsea Barracks for developers Judith Heywood, Deputy Property Editor
The Candy brothers, the youthful property magnates who develop homes for the super-rich, have completed the deal to buy 12.8 prime acres of Chelsea for a record £959 million, more than three times the amount estimated when the land was put up for sale by the Ministry of Defence.

The deal for the Chelsea Barracks site, struck in partnership with the Qatari Government, is thought be a British record for a residential plot. It values the site at £75 million an acre; land for development in less affluent parts of London typically costs several million per acre.

The battle to secure the site dwarfs even the Candys’ own deal, forged in 2004, to buy the Bowater House site overlooking Hyde Park for £150 million. Flats in that 86-unit development, due for completion in two years’ time, are on the market for as much as £100 million.
More on the link
 
#3
Jock - you old cynic :roll:

I wonder if they will take some of that £950mil and build a state of the art hospital for injured troops, or some decent housing/barrack blocks. Or kit that works etc...

Or if it will be part of the Defence Budget "increase", or just disapear back into No 11 :roll:

MB
 

Biped

LE
Book Reviewer
#4
Mighty_Blighty said:
Jock - you old cynic :roll:

I wonder if they will take some of that £950mil and build a state of the art hospital for injured troops, or some decent hosing/barrack blocks. Or Kit that works etc...

Or if it will be part of the Defence Budget "increase", or just disapear back into No 11 :roll:

MB
Damn, you got there before me. No, the money will be spent on gays, lesbians, outreach workers and Northern Rock.

What the hell would they want to waste it on the MOD for?
 
#5
How much of that will actually get back to the guys on ground after estate agents fees, solicitors fees, surveyors fees and of course the executive directors 'cut' and then getting 'mis-allocated' somewhere by the accountants.
 
#6
£959m, so that will urn out to be £559m for he land £400m in kick-backs to civil-servants and interested MPs with a say in the Home Office.

I get the feeling some people who are paid to serve the public just got very rich selling off our national assest to another govenment.
 
#8
Ord_Sgt said:
Well according to the article the money is 'ring fenced' for accommodation. You bunch of cynical bastards.[/quote]

Since when has the word of these throbbers meant anything?

As in the X-Files, the truth is out there............ :roll:
 
#9
Ord_Sgt said:
Well according to the article the money is 'ring fenced' for accommodation. You bunch of cynical bastards.
Didn't Broon announce the other day that he was putting in more money to accommodation. So in fact it's more money that he's not actually having to give out as he didn't actually have it in the first place.

That would be why I am one of the afore mentioned cynical bar stewards.

Jockster
 
#10
Jockster915 said:
Ord_Sgt said:
Well according to the article the money is 'ring fenced' for accommodation. You bunch of cynical bastards.
Didn't Broon announce the other day that he was putting in more money to accommodation. So in fact it's more money that he's not actually having to give out as he didn't actually have it in the first place.

That would be why I am one of the afore mentioned cynical bar stewards.

Jockster
Jockster, was just thinking the same thing.

Didn't he 'set aside' 5bn for accomodation over the next x amount of years?

So, exactually where is this £959 million going to dissapear to :? :evil:
 
#11
I expect a delivery of shiny new chairs to the SofS' office in the next week or so. Maybe some modern art in the foyer of Main Building as well.
 
#12
SunrayDown said:
How much of that will actually get back to the guys on ground after estate agents fees, solicitors fees,surveyors fees and of course the executive directors 'cut' and then getting 'mis-allocated' somewhere by the accountants.
Greedy, self opinionated, lying, false, worthless, useless, overpaid, stuck up, dirty, robbing B@stards!

Quick rant off thread, sorry couldn't resist. :oops:

To any solicitors/lawyers and estate agents reading this: GET STUFFED!
 
#14
TheBigUn said:
SunrayDown said:
How much of that will actually get back to the guys on ground after estate agents fees, solicitors fees,surveyors fees and of course the executive directors 'cut' and then getting 'mis-allocated' somewhere by the accountants.
Greedy, self opinionated, lying, false, worthless, useless, overpaid, stuck up, dirty, robbing B@stards!

Quick rant off thread, sorry couldn't resist. :oops:

To any solicitors/lawyers and estate agents reading this: GET STUFFED!
You failed to list 'CONSULTANTS' in your orbat and there were a few of these feckers on this deal as well. Money? Old Rope? sound familiar?
 
#16
bobath said:
£959m, so that will urn out to be £559m for he land £400m in kick-backs to civil-servants and interested MPs with a say in the Home Office.

I get the feeling some people who are paid to serve the public just got very rich selling off our national assest to another govenment.
I am aware of the Candy brothers as I have a former colleague on board their team. They are a tight crew with a good reputation. This team is also undertaking the redevolpment of what was formerly the Middlesex Hospital in Cleveland St.

Last year,the Evening Standard reported this sale as 600 million, so the current figure is at least an improvement.

AS for public servants and making money, Alan Duncan(Con.MP) didn't do so bad out of our efforts in GW1 and his directorship of an arms company, well allegedly, and his acquisition of property in Lord North St. allegedly part of the Lady Porter scandal............well you get the message
 

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