Tempus Fugit Posted April 16, 2007 Share Posted April 16, 2007 What's going on with the Corpy wanting to redevelop the golf clubhouse ? Wasn't money from the 'sale' (cough !) of the Villa going to be used to make a new community centre for the town (or something like that) to replace the facilities they had in the Villa ? And : If they are wanting to redevelop the clubhouse, does this mean the proposale to build houses on the Pulrose course and make a new golf course out at Kewaigue have fallen flat as there would be no need for the rebuild something doesn't quite add up here Link to comment Share on other sites More sharing options...
Lonan3 Posted April 16, 2007 Share Posted April 16, 2007 Perhaps you could check out the opinions HERE ? Link to comment Share on other sites More sharing options...
Theodolite Posted April 16, 2007 Share Posted April 16, 2007 DoLGE Minister John Shimmin was giving the Government side to the matter on Manx Radio Mandate on Friday 20070413_Mandate_Interview_J_Shimmin_re_Golf_Club.mp3 Basically he is saying that DoLGE have a responsibility to ensure that such a large sum of money (£1.5 million) is being properly spent with regard to return by the Douglas Ratepayers and not just for the golfers. David Christian from Douglas Corporation gave his reply this morning (recording not yet available) but has stated that he supports the existing Golf Club and doesn't want to see Dandara build houses on it. Link to comment Share on other sites More sharing options...
Tempus Fugit Posted April 16, 2007 Author Share Posted April 16, 2007 looked for an existing topic but couldn't spot one What about the money from the sale of the Villa ?, has that all been spent on a new bookcase for the town hall Link to comment Share on other sites More sharing options...
Skig Posted April 16, 2007 Share Posted April 16, 2007 looked for an existing topic but couldn't spot one What about the money from the sale of the Villa ?, has that all been spent on a new bookcase for the town hall How much did they get for the sale of the land in lake road next to Tesco's? Did Christian spend that on doing up the palacial suite above the tram sheds at Derby Castle? Link to comment Share on other sites More sharing options...
feelslikeitshould Posted April 16, 2007 Share Posted April 16, 2007 How much did they get for the sale of the land in lake road next to Tesco's? Did Christian spend that on doing up the palacial suite above the tram sheds at Derby Castle? Probably enough to pay for their brand spanking new facility up on the business park. Link to comment Share on other sites More sharing options...
Skig Posted April 16, 2007 Share Posted April 16, 2007 How much did they get for the sale of the land in lake road next to Tesco's? Did Christian spend that on doing up the palacial suite above the tram sheds at Derby Castle? Probably enough to pay for their brand spanking new facility up on the business park. I dont think they bought the new place up at the business park, just renting it. So what happened to the money for the sale of the lake road site? Link to comment Share on other sites More sharing options...
feelslikeitshould Posted April 16, 2007 Share Posted April 16, 2007 How much did they get for the sale of the land in lake road next to Tesco's? Did Christian spend that on doing up the palacial suite above the tram sheds at Derby Castle? Probably enough to pay for their brand spanking new facility up on the business park. I dont think they bought the new place up at the business park, just renting it. So what happened to the money for the sale of the lake road site? Yes, to a degree but it cost £3.5 million and they had to pay for all of the changes they wanted. I have a feeling that they are only paying the difference between the Lake Road sale price (what ever that was) and the £3.5m by way of rent, with an option to purchase after x years. Link to comment Share on other sites More sharing options...
Skig Posted April 16, 2007 Share Posted April 16, 2007 How much did they get for the sale of the land in lake road next to Tesco's? Did Christian spend that on doing up the palacial suite above the tram sheds at Derby Castle? Probably enough to pay for their brand spanking new facility up on the business park. I dont think they bought the new place up at the business park, just renting it. So what happened to the money for the sale of the lake road site? Yes, to a degree but it cost £3.5 million and they had to pay for all of the changes they wanted. I have a feeling that they are only paying the difference between the Lake Road sale price (what ever that was) and the £3.5m by way of rent, with an option to purchase after x years. Whichever way it goes you can bet that Dandara will come out with the better of the deal! Link to comment Share on other sites More sharing options...
feelslikeitshould Posted April 16, 2007 Share Posted April 16, 2007 Well probably, Lake Road is supposed to be an investment.....But Corpy have lawyers, no doubt such a sale involving high value bits of land and buildings will have been raked over with a fine tooth comb. Link to comment Share on other sites More sharing options...
thesultanofsheight Posted April 16, 2007 Share Posted April 16, 2007 Yes, to a degree but it cost £3.5 million and they had to pay for all of the changes they wanted. I have a feeling that they are only paying the difference between the Lake Road sale price (what ever that was) and the £3.5m by way of rent, with an option to purchase after x years. Douglas Corpy I don't think own it. Their argument at the time was that by the time the lease expires the new building would be past its useful life and therefore they have no long term liabilities. But I never saw any explanation of how you use capital (sale of Lake Road) to pay for rental or lease fees upfront for x number of years. Any way no resultant drop in rates ensued which you'd expect if substantial capital was used as a "one off" rent payment to offset predicted future expenditure. You'd expect a huge drop in rates if your paying all the rent in one sum rather than out of ratepayers funds over the next 25 years or so, add to this the maintenence payments your saving by moving from old premises to new it should have freed up hundreds of thousands of pounds a year to be spent elsewhere. Link to comment Share on other sites More sharing options...
thebees Posted April 17, 2007 Share Posted April 17, 2007 I wondered similar things at the time, what are Douglas Corpy upto here? Does anyone keep a check on them? they seem to be going a little MEAtastic. Link to comment Share on other sites More sharing options...
copycat Posted April 18, 2007 Share Posted April 18, 2007 sometimes..but then you get critisised for telling people whats going on....oh well...maybe some other time . Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.