Cracks in Ricoh. (1 Viewer)

[letsallsingtogether]

Apparently cracks have been found around the Ricoh leading to fears of subsidence.
Don't know how true it is but read it on Facebook.
Anyone else heard anything?

 

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[Nick]

They usually appear ever January anyway. Boom boom

Or was it the weight of those rugby types for a double header. Boom tish

 

[MatthewWallis]

Not our problem really, although wasps will try and some way blame us like they did after the Wycombe game last season for the already abysmal pitch condition

 

[ccfchoi87]

It's leaking I know that much

 

[Grendel]

They are already beginning to show

 

[Rusty Trombone]

Wasps valuers covered themselves just in case.

 

[wingy]

Can we substitute in for at in the thread title.
Then I can ask "Are they any good and how much are the tickets, when do they go on sale and five things we know".

 

[ccfcway]

nowt to do with us whatsoever, as tenants its no different to pot holes in the car park, someone else's problem

 

[Samo]

I do hope its not sliding into Bedworth... many will no longer be able to attend!

 

[shmmeee]

Better crack on with the new stadium then.

Maybe the Leicester shirt damaged the structural integrity of the foundations

 

[chiefdave]

Wasps valuers covered themselves just in case.

That bit makes me laugh. They might as well have just put 'we didn't bother doing anything and just relied on what Wasps told us'.

 

[wingy]

That bit makes me laugh. They might as well have just put 'we didn't bother doing anything and just relied on what Wasps told us'.

It's the same as an estate agent valueing property though ,they don't do a structural Survey.
Nowadays they just use a database generally and price accordingly, there's a lot less science to it than say the sixties and seventies. .
The biggest factor nowadays is whatever limits multiples on earnings accrues, obviously the ability of the lender to recoup should the mortgagee dedault, now there's a symetry with Wasps there.

 

[Astute]

This is why the 250 year lease was a joke. It was more financial than anything else. Older buildings were built much better. These days they just throw them up using inferior materials. Older stadiums became outdated but most were still structurally sound.

 

[clint van damme]

Wasps valuers covered themselves just in case.

View attachment 9271

considering the sums of money involved I find that staggering.

 

[Nick]

Wasps valuers covered themselves just in case.

View attachment 9271

Can they value my house? It's a 9 bedroom mansion, pool, gym and sauna.

They don't need to come and have a look, just assume.

 

[christonabike]

I would be so happy if the place had to be ripped down. Nothing but heart ache since we moved there.
Would be funny if the cracks get worse and Wasps shit themselves and fook off to another town!
Only thing is we would be using jumpers for goalposts in the Memorial Park!:wideyed:

 

[stupot07]

It's the same as an estate agent valueing property though ,they don't do a structural Survey.
Nowadays they just use a database generally and price accordingly, there's a lot less science to it than say the sixties and seventies. .
The biggest factor nowadays is whatever limits multiples on earnings accrues, obviously the ability of the lender to recoup should the mortgagee dedault, now there's a symetry with Wasps there.

I think that's why the valuation of the Ricoh is a joke, at least with houses you can point to an identical house on the same street and have confidence that is the going price and mortgage companies have confidence they could recover the money if it went tits up, wasps only paid £6.5m, no ones ever going to buy it for £35-45m or whatever the valuation it. The bond holders would never get their money back if things went pop.

Sent from my SM-G930F using Tapatalk

 

[Mild-Mannered Janitor]

That valuation Strutts put on the site was significantly higher than the sale value, I work for one of their competitors and we are now involved providing advice.

 

[skybluetony176]

This is why the 250 year lease was a joke. It was more financial than anything else. Older buildings were built much better. These days they just throw them up using inferior materials. Older stadiums became outdated but most were still structurally sound.

You could argue that this is why the 250 year lease isn’t a joke. What’s the design life of a stadium anyhow? How many times in 250 years is the Ricoh going to need rebuilding/redeveloping in this period if only sections at a time? Who’s now responsible for meeting that cost? Not the taxpayer anymore for at least 250 years.

Tried looking for design life of a stadium and the only things I can find are about American stadiums where they rebuild them for fun and state a design life of 20-30years so using that it’s not possible to say that the Ricoh will be rebuilt 10 times in that period. However if you take another example, say Highfield Road then that might be a better indication if only on a stand by stand basis.

Scunthorpe is another example. Current stadium barely 30 years old, started looking at redevelopment in 2014, now looking at a complete new stadium.

 

[eastwoodsdustman]

That valuation Strutts put on the site was significantly higher than the sale value, I work for one of their competitors and we are now involved providing advice.

Not working for Joy are you?

 

[Sky Blue Harry H]

Apparently the same people built Fisher's luxury mansion 'Timmy Towers'

 

[shmmeee]

considering the sums of money involved I find that staggering.

Not unusual for multi million pound deals to be done on the strength of an AVM (computer model) or looking at comparables (similar properties) TBH.

95% of value is in location and other factors that aren’t effected by the actual building.

Even if the Ricoh falls down, they have a 250 year lease in a prime location.

 

[Astute]

You could argue that this is why the 250 year lease isn’t a joke. What’s the design life of a stadium anyhow? How many times in 250 years is the Ricoh going to need rebuilding/redeveloping in this period if only sections at a time? Who’s now responsible for meeting that cost? Not the taxpayer anymore for at least 250 years.

Tried looking for design life of a stadium and the only things I can find are about American stadiums where they rebuild them for fun and state a design life of 20-30years so using that it’s not possible to say that the Ricoh will be rebuilt 10 times in that period. However if you take another example, say Highfield Road then that might be a better indication if only on a stand by stand basis.

Scunthorpe is another example. Current stadium barely 30 years old, started looking at redevelopment in 2014, now looking at a complete new stadium.

Old style stadiums could be rebuilt a stand at a time. New style stadiums are.just one stand that goes right around.

 

[ccfcway]

Can they value my house? It's a 9 bedroom mansion, pool, gym and sauna.

They don't need to come and have a look, just assume.

sure that can be arranged. then you just need to give it away at a fraction of its value and then be taken to court for several years arguing about it with someone else who wanted it

 

[NorthernWisdom]

They are already beginning to show

It's too late

 

[skybluetony176]

Old style stadiums could be rebuilt a stand at a time. New style stadiums are.just one stand that goes right around.

That was built in sections so can be rebuilt in sections. Even one stand is built in sections.

 

[letsallsingtogether]

That was built in sections so can be rebuilt in sections. Even one stand is built in sections.

I have been working on the new spurs ground and that is also in sections they built half of it and then had to wait until the old ground was knocked down to finish the bowl off.
Inserter are now looking at building another tier on one stand so yes it can be done, bit by bit.
I am sure the Ricoh was built the same way so that it can be increased in capacity if needed, just need to under pin first

 

[NorthernWisdom]

I have been working on the new spurs ground and that is also in sections they built half of it and then had to wait until the old ground was knocked down to finish the bowl off.
Inserter are now looking at building another tier on one stand so yes it can be done, bit by bit.
I am sure the Ricoh was built the same way so that it can be increased in capacity if needed, just need to under pin first

Yeah it wasn't designed to easily expand mind, would always have needed a side knocking down first rather than just going up.

Not, of course, that that's ever been an issue for us(!)

 

[skybluetony176]

I have been working on the new spurs ground and that is also in sections they built half of it and then had to wait until the old ground was knocked down to finish the bowl off.
Inserter are now looking at building another tier on one stand so yes it can be done, bit by bit.
I am sure the Ricoh was built the same way so that it can be increased in capacity if needed, just need to under pin first

Yeah exactly. No concrete structure like the size of a stadium is built in a single pour of concrete. Concrete is just like any other material in that it expands and contracts so has to be built in sections to allow an expansion gap.

 

[Grendel]

Not unusual for multi million pound deals to be done on the strength of an AVM (computer model) or looking at comparables (similar properties) TBH.

95% of value is in location and other factors that aren’t effected by the actual building.

Even if the Ricoh falls down, they have a 250 year lease in a prime location.

The lease is tied to the stadium. So they don’t.

 

[wingy]

Life of Concrete 90 years
Starts to degrade at around 40.

 

[oscillatewildly]

Couldn't have happened to a more controversial stadium.

 

[Esoterica]

Might finally unearth that Leicester shirt just in time for promotion.