The Dog's Dangly Bits Posted June 10, 2020 Share Posted June 10, 2020 2 hours ago, TheTeapot said: It's very dodgy. The developer is Kane Ltd, who no one has ever heard of, and the main man is a guy who seems to run this https://www.businessisleofman.com/ which suggests a fair degree of cosyness. Does someone have to have heard of it? It's a 1931 act company that was formed 22 years ago and probably holds other investment assets perhaps. What's the cosyness you're on about? It seems that Kane Limited were able to put a deal together (to pre let) and I assume with that an option to buy the site for the development. Why it's delayed is anyone's guess. It could have something to do with the pre letting to the cinema? Perhaps the chain is in trouble. Quote Link to comment Share on other sites More sharing options...
Mr Newbie Posted June 10, 2020 Share Posted June 10, 2020 5 hours ago, Albert Tatlock said: Not really - our company is one doing precisely what I said. I agree I heard of one large employer today who has said it won’t be fully back until December. I’d be worried if I worked for a place like that as I think many will be looking for justification for headcount losses. Just giving people rope to hang themselves with. Quote Link to comment Share on other sites More sharing options...
TheTeapot Posted June 10, 2020 Share Posted June 10, 2020 1 minute ago, The Dog's Dangly Bits said: Does someone have to have heard of it? It's a 1931 act company that was formed 22 years ago and probably holds other investment assets perhaps. What's the cosyness you're on about? It seems that Kane Limited were able to put a deal together (to pre let) and I assume with that an option to buy the site for the development. Why it's delayed is anyone's guess. It could have something to do with the pre letting to the cinema? Perhaps the chain is in trouble. Well generally if someone is going to develop a pretty big site you'd expect them to have some kind of evidence of capability to actually carry out such work, no? The cosyness is that the main guy from the firm also runs a government quango. So far it seems to be a transfer of a DoI car park to a private company run by someone tightly tied into the government under the 'promise' of future development. At the very least that should raise some questions. Maybe I'm a bit too cynical, but we've seen this kind of shit before. 5 Quote Link to comment Share on other sites More sharing options...
The Dog's Dangly Bits Posted June 10, 2020 Share Posted June 10, 2020 3 minutes ago, TheTeapot said: Well generally if someone is going to develop a pretty big site you'd expect them to have some kind of evidence of capability to actually carry out such work, no? The cosyness is that the main guy from the firm also runs a government quango. So far it seems to be a transfer of a DoI car park to a private company run by someone tightly tied into the government under the 'promise' of future development. At the very least that should raise some questions. Maybe I'm a bit too cynical, but we've seen this kind of shit before. Well given he has done development in retail before perhaps he's perfectly capable? Also, if he has brought commercial enterprises to the party on pre letting agreements them perhaps he has a good option on the table? I suspect any transfers are contingent on development so any utilisation of the car park not for development is probably seeing DOI being recompensed. Quote Link to comment Share on other sites More sharing options...
TheTeapot Posted June 10, 2020 Share Posted June 10, 2020 You could well be right, I don't really now anything about it, just naturally suspicious is all. I work in construction, and hear things. There is often a busy rumour mill. Before the Premier Inn was announced it was fairly common knowledge it was going to happen, and even though it was a Dandara project subbies were expecting to pick up work on it. Those kind of noises are absent about this one. It should be a massive job, and if it was going to happen I'd expect some of the people I know to be starting to make space in their diaries to work on it. 2 2 Quote Link to comment Share on other sites More sharing options...
Max Power Posted June 10, 2020 Share Posted June 10, 2020 I imagine the Covid-19 lockdown has moved a lot of goalposts for the hotel and cinema chains involved? They will need to regroup before further commitments I imagine? 1 Quote Link to comment Share on other sites More sharing options...
Neil Down Posted June 10, 2020 Share Posted June 10, 2020 12 minutes ago, Max Power said: I imagine the Covid-19 lockdown has moved a lot of goalposts for the hotel and cinema chains involved? They will need to regroup before further commitments I imagine? you may well be correct. No sense in building something meant for crowds if they aren't allowed in Quote Link to comment Share on other sites More sharing options...
snowman Posted June 10, 2020 Share Posted June 10, 2020 Get in touch and ask the questions https://www.travelodge.co.uk/property-development/about-us/meet-the-team/ Quote Link to comment Share on other sites More sharing options...
The Dog's Dangly Bits Posted June 10, 2020 Share Posted June 10, 2020 3 hours ago, Max Power said: I imagine the Covid-19 lockdown has moved a lot of goalposts for the hotel and cinema chains involved? They will need to regroup before further commitments I imagine? The cinema model is at a crossroads anyway. The fall out of Universal Studios issue could be the beggining of the end for cinemas. Quote Link to comment Share on other sites More sharing options...
NoTailT Posted June 11, 2020 Share Posted June 11, 2020 Apparently Travelodge isn't happening now and the guy who owns the Mannin is going to have a Hampton by Hilton there instead. 1 Quote Link to comment Share on other sites More sharing options...
Andy Onchan Posted June 11, 2020 Share Posted June 11, 2020 On 1/18/2019 at 5:36 PM, John Wright said: Doesn’t affect the plans at all. Itll be built before any case comes to trial Is that still the position, based on what's now happening (contract parking)? Quote Link to comment Share on other sites More sharing options...
John Wright Posted June 11, 2020 Share Posted June 11, 2020 24 minutes ago, Andy Onchan said: Is that still the position, based on what's now happening (contract parking)? Yes. The case is for damages, not to have the contract with Kane cancelled. If anything proceeds slower than IOM building contracts... 1 Quote Link to comment Share on other sites More sharing options...
Andy Onchan Posted June 11, 2020 Share Posted June 11, 2020 1 hour ago, John Wright said: Yes. The case is for damages, not to have the contract with Kane cancelled. If anything proceeds slower than IOM building contracts... The point I was trying to get at was, has the delay in the construction been caused by the court case (are Kane implicated?) or the downturn due to CV? It's not entirely clear to me that Kane are out of the picture in regards to the court case. Quote Link to comment Share on other sites More sharing options...
TheTeapot Posted June 11, 2020 Share Posted June 11, 2020 (edited) Wonder how long you can rent one of the parking spaces for. It doesn't give any details (or the price) on the advert. That might give a slight clue about things. Edited June 11, 2020 by TheTeapot Quote Link to comment Share on other sites More sharing options...
John Wright Posted June 11, 2020 Share Posted June 11, 2020 17 minutes ago, Andy Onchan said: The point I was trying to get at was, has the delay in the construction been caused by the court case (are Kane implicated?) or the downturn due to CV? It's not entirely clear to me that Kane are out of the picture in regards to the court case. Kane aren’t involved in the Court case. It’s by the developers who thought they’d got the agreement to develop, but didn’t against the relevant government department. For out of pockets and loss of profits as far as I can tell from what little info is about. Covid might mean a sharp downward figure on losses. So it won’t impact on timetable. Im presuming the binding contract with Kane provided they take occupation by a certain date, if they didn’t there’d be a break clause. They’ve got planning. They’ve taken occupation. How they stage their building programme is up to them. It’s possible, probable even, that Covid has affected start time. Hence trying for contract parking for a few months. Does it matter if the hotel is operated as a Travelodge or Hampton by Hilton franchise? We always knew it’d be a franchise operation on lease from the developer. 1 Quote Link to comment Share on other sites More sharing options...
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