Shrimpsvoices

just wondering where we are at the moment regarding the new ground at westgate as its gone very very quiet at the moment...is the move still going ahead etc/as the credit crunch had any effect on the move

Personally i don't think it will go ahead.

open for 2010 is the latest I have read - Link to Mfc article

Link - Official new stadium website

I understand that Christie Park has already been sold and that work on the new stadium is to commence around March and be ready by July 2010.

Staying at Christie is not an alternative as we have to have over 2,000 covered seats by May 2010.

Heysham_Shrimp wrote:I understand that Christie Park has already been sold and that work on the new stadium is to commence around March and be ready by July 2010.

Staying at Christie is not an alternative as we have to have over 2,000 covered seats by May 2010.

Staying at Christie Park isn't an alternative if we are to remain a league club. The income the new ground with its associated outlets will generate is vital to maintain a side not only capable of challenging for League 1 but also for ensuring the strength to stay in the League.

I think work on the new stadium was always intended to start early next year so the March date would fit in with that.

Heysham_Shrimp wrote:I understand that Christie Park has already been sold and that work on the new stadium is to commence around March and be ready by July 2010.

Staying at Christie is not an alternative as we have to have over 2,000 covered seats by May 2010.

I don't think selling CP has even been an issue.

Land will always be needed and in some ways if developers have got cash in the bank making sod all they will buy land as a medium to long term investment.

There are millions of acres already in land banks.

It's also a good time to build as costs of materials etc reflects the global downturn.

Buyers have never had as much power as they have today. In my industry alone, buyers can almost name their price, 'cause there is always somebody who will undertake work just to cover overheads regarding any sale as a contribution towards costs.

Christies Child wrote:

Heysham_Shrimp wrote:I understand that Christie Park has already been sold and that work on the new stadium is to commence around March and be ready by July 2010.

Staying at Christie is not an alternative as we have to have over 2,000 covered seats by May 2010.

I don't think selling CP has even been an issue.

Land will always be needed and in some ways if developers have got cash in the bank making sod all they will buy land as a medium to long term investment.

There are millions of acres already in land banks.

It's also a good time to build as costs of materials etc reflects the global downturn.

Buyers have never had as much power as they have today. In my industry alone, buyers can almost name their price, 'cause there is always somebody who will undertake work just to cover overheads regarding any sale as a contribution towards costs.

There are so many things wrong with that statement.

1) Cash in the bank is the one thing companies (especially developers) need at the moment.
2) It's not a good time to build as a) no-one is buying houses and b) retail companies are going under meaning less rentals of commercial property.
3) Why would a developer buy land if they can't even sell their stock of developed buildings and have millions of acres in land banks already?

The Marksman wrote:

Christies Child wrote:

Heysham_Shrimp wrote:I understand that Christie Park has already been sold and that work on the new stadium is to commence around March and be ready by July 2010.

Staying at Christie is not an alternative as we have to have over 2,000 covered seats by May 2010.

I don't think selling CP has even been an issue.

Land will always be needed and in some ways if developers have got cash in the bank making sod all they will buy land as a medium to long term investment.

There are millions of acres already in land banks.

It's also a good time to build as costs of materials etc reflects the global downturn.

Buyers have never had as much power as they have today. In my industry alone, buyers can almost name their price, 'cause there is always somebody who will undertake work just to cover overheads regarding any sale as a contribution towards costs.

There are so many things wrong with that statement.

1) Cash in the bank is the one thing companies (especially developers) need at the moment.
2) It's not a good time to build as a) no-one is buying houses and b) retail companies are going under meaning less rentals of commercial property.
3) Why would a developer buy land if they can't even sell their stock of developed buildings and have millions of acres in land banks already?

I can only go on what my clients in the property development market are telling us.
Money in the bank is fine but with almost zero return on investments the knowledge that land values will return is a far more attractive propostion.

Like everything, there is of course the opposite view which i respect.

Does anyone think a deal has not already been done before the whole proposition was put in the public domain?

Someone as smart as PMc does not gamble on a huge development such as this.

I am convinced that any deal done ( and dont forget this was all put in motion before the term 'Credit Crunch' was even manufactured by The Daily Mail) is watertight.

Lets wait and see and trust in The Board.

Does anyone think a deal has not already been done before the whole proposition was put in the public domain?

That's what I was led to believe with the deal not being dependent on getting planning permission.

Phoenix wrote:Does anyone think a deal has not already been done before the whole proposition was put in the public domain?

That's what I was led to believe with the deal not being dependent on getting planning permission.

I still don't get that whaht building company would buy the land when they still don't know if they can get permission to build on it. It could turn out to be a complete waste of money for them.

anyone who thinks that the new stadium plans won't be affected by what's going on with the collapse in property prices, bankrupty and near bankruptcy of all the main property developers and massive contraction in available credit is living in cloud cuckoo land.

i, for one, hope the plans go ahead and i'm excited about the possibilities that a new stadium would bring. BUT the world has definitely changed a lot from two years ago and our plans will have to reflect that.

Peter McGuigan was commenting in the last home programme that with the credit crunch affecting attendances at all levels of the game, the need to derive extra revenue other than gate receipts was as important as ever, thus the move to the new development was still very much a priority.

P/T Indie wrote:

Phoenix wrote:Does anyone think a deal has not already been done before the whole proposition was put in the public domain?

That's what I was led to believe with the deal not being dependent on getting planning permission.

I still don't get that whaht building company would buy the land when they still don't know if they can get permission to build on it. It could turn out to be a complete waste of money for them.

Because they are aware that the current financial state is just temporary so if they can buy land at the moment they will as they know it will sell for higher values later on.

wonder shrimp wrote:anyone who thinks that the new stadium plans won't be affected by what's going on with the collapse in property prices, bankrupty and near bankruptcy of all the main property developers and massive contraction in available credit is living in cloud cuckoo land.

I agree completely that the new stadium project will be affected. Its perfect logic, speaking as someone who works in the construction trade on projects of various sizes and budgets. As has already been pointed out the price of raw material from copper to gypsum is dropping all the time so the material costs will be lower than origionally estimated. Also again as has been mentioned, with work slowing in some sectors of construction people are working for the money that they can get in and the pricing for a relatively long term project as this will be extremely competitive. So you are very right in what you say wonder shrimp, the plans will have changed and in the current financial climate the club could save a small fortune on the whole project so there has never been a better time for the move.....unless you were arguing to the contrary, in which case it is you sir who is living in cloud cuckoo land.

It would be nice for the club to confirm when work will start and where we are at in regards planning permission and the sale of Christie Park. I can understand if it is delayed by a year or two but I really hope it isn't.

With regards 2 years to have 2000 seats - don't lots of clubs fall short of this requirement? Teams who plan to move grounds usually get extra time. If we have to delay due to the economic climate, I am sure we wont get kicked out of the league!

there might well be some advantages to the current situation, as you say pompeyred, but i think these will be outweighed by the difficulties in obtaining finance (for the club and any potential developer), and uncertainty over future income.

for me, on balance i would expect the scope of the project to be reduced and the timeframe (if possible) extended.

there's a lot of massive established firms going bust at the moment, these are definitely v. difficult times for everyone. if MFC can continue to chart a sustainable and progressive course into the future i'm sure we will continue to benefit and thrive as a league club, and that's what we all want!!!

The time frame is, I believe, dictated as much by the need to comply with extra seating at CP at the end of our 3rd season in the league. This would prove costly and wouldn't address the main issue, that of being mainly self financed.

We cannot continue to rely on the Board and in particular PMc to finance the club.

I'm sure that once the new stadium is delivered then that will be the time for certain significant changes at the very top. Peter Mc has devoted much time and money into his ( and our) club.

For me there's no greater tribute to the man than to be linked alongside JB Christie himself and a lasting memorial to both should certainly take pride of place at the new stadium.

wonder shrimp wrote:for me, on balance i would expect the scope of the project to be reduced and the timeframe (if possible) extended.

Alternatively, if the financing was secured prior to the economic downturn, the project will now be cheaper than first planned for, so the scheme could be completed quicker?

we will know when the work starts on the new ground, it will be in the visitor, about march / april.