Westmoreland Village

[Ativa]

1 minute ago, TheTeapot said:

I've no idea, its why I asked about it in the first place. I have been told it will become an old peoples home, but I don't actually know. Anyway, after gizo said it was finally getting dropped I went and had a look while I was in Doulas earlier.

I was also told, years ago, that there was an underground section to that site which contained some pretty interesting things, but the days where I'd actually go and explore have sadly passed. When the old falcon brewery was about to be redeveloped I got in there, you should have seen the incredible brickwork underneath that. 

It’s going to be a nursing home.  The planning app number was even posted up thread.

[SuperHans]

22 minutes ago, Banker said:

It was sold by DHA about 4 years ago but can’t recall who to , was it Raj?

Sold for £800k in 2020 think it was to Raj. He has the plot next door. 

[Ativa]

26 minutes ago, SuperHans said:

Sold for £800k in 2020 think it was to Raj. He has the plot next door. 

So is Raj something to do with the company who have massive banners with their name on all over the site?

Edited March 18, 2023 by Ativa

[asitis]

9 hours ago, Ativa said:

They are a business looking to turn a profit.

They will use whatever mix of trades and firms they need to to get the work done at a decent price, to a decent standard and on time.

If people want to work for them they can, if they don’t then they will have to bring people in.

Nobody decent works for Dandara if they can help it. At least if they do they must have been drunk and blindfolded when they built my daughters house !

[forestboy]

Just now, asitis said:

Nobody decent works for Dandara if they can help it. At least if they do they must have been drunk and blindfolded when they built my daughters house !

So why did she buy it then?

[asitis]

1 hour ago, forestboy said:

So why did she buy it then?

Shine over shite !

[finlo]

3 minutes ago, asitis said:

Shine over shite !

Fifty yarders!

[Non-Believer]

[finlo]

4 minutes ago, Non-Believer said:

Here we go again!

[Nellie]

7 minutes ago, finlo said:

Here we go again!

It was obvious that this would happen. It happens with lots of new organisations. They are paying salaries, they will have paid set-up costs, probably rented offfices, IT kit, perhaps vehicles. And they have no trading income. Need to judge it after five years, when they've sold hundreds of apartments! 🤣

[Ativa]

Is this news?

A company has been setup, rented premises and employed staff and consultants to plan some projects that will make money but are still all at pre planning stages.

Of course they made a loss 🙄.  I am surprised it’s that low to be honest.

[CallMeCurious]

1 hour ago, Ativa said:

Is this news?

A company has been setup, rented premises and employed staff and consultants to plan some projects that will make money but are still all at pre planning stages.

Of course they made a loss 🙄.  I am surprised it’s that low to be honest.

Well at least the accounts will be publically available as it's owned by the government taxpayers. I assume we get a say in when to wind it up if it isn't performing?

Oh yeah, I forgot, "arms length" and "commercial sensitivity."

 

[Ativa]

1 hour ago, CallMeCurious said:

Well at least the accounts will be publically available as it's owned by the government taxpayers. I assume we get a say in when to wind it up if it isn't performing?

Oh yeah, I forgot, "arms length" and "commercial sensitivity."

 

Three year fixed term contracts the staff are in.  It’s all very transparent 

[The Phantom]

1 hour ago, CallMeCurious said:

Well at least the accounts will be publically available as it's owned by the government taxpayers. I assume we get a say in when to wind it up if it isn't performing?

 

Interesting point.  Although if you'd go by company law, you'd need something like 75% of the shareholders (taxpayers) to agree.  Although whether that would be 75% of all of us or those contributing 75% of the tax collected...  

[english zloty]

1 hour ago, Ativa said:

Three year fixed term contracts the staff are in.  It’s all very transparent 

Except it's not at all transparent is it. The only transparent element is that Treasury /Tynwald is to provide subvention of unquantified values until it eventually builds something or it is decided MDC is an unnecessary money pit.

Eta.

Having now read the report. It is reasonable to deduce the operating cost will have increased very significantly as the end Mar 22 accounts only include c. six months of the MD wages and there are now something like six £60K staff to add on. 

We can also see Treasury funded through shares MDC to a value in the region £1.6million and have since added a further 0.5million into the pot. And in Any case are due to fund all MDC activity until Mar 24 through the Economic Recovery fund? 

Taking the three year plan (no sign of that btw - but needed by the Heads of Terms) subvention is due to cease Mar 2024 (along with the term of the Board of Directors) and presumably stand on it's own merits and through an evidential base that it can repay its loans to Treasury.

On the basis of where they are. Good luck with that.

Edited March 22, 2023 by english zloty
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