Ricoh Freehold (1 Viewer)

[mark82]

Without wanting to go over old ground just wanted to offer an opinion on why Sisu may want the freehold of the Ricoh.

Maybe they want to split the land up from the Ricoh and either sell plots individually or develop and rent out units on the land which would allow them to sell the club with the Ricoh as a separate concern. This would give them a realistic exit strategy from CCFC whilst still allowing them to recoup at least some of the money they have invested. Thoughts?

 

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[IT1987]

ACL own a 100 year lease not the freehold and the freehold would be retained by the council in any case. The site desperately needs a new hotel and other expansion on waste ground and ACL can't afford to do it themselves. Properly developed the site would be worth a fortune so CCFC is the key to everything as it allows access to ACL. That's why SISU want ACL, probably to sell it on together with CCFC. Even if they can't purchase it, the November judicial review will reveal that, CCFC has to have value for someone who wants to purchase ACL? It's hardly surprising that SISU declined to sell to Haskell as there was no money in the offer, they were just asked to walk away with their losses.

 

[mark82]

SISU have said the only way they would return is buying the freehold.

 

[letsallsingtogether]

Yet when sisu brought it everyone had to walk away with nothing oh and how much did they pay?

ACL own a 100 year lease not the freehold and the freehold would be retained by the council in any case. The site desperately needs a new hotel and other expansion on waste ground and ACL can't afford to do it themselves. Properly developed the site would be worth a fortune so CCFC is the key to everything as it allows access to ACL. That's why SISU want ACL, probably to sell it on together with CCFC. Even if they can't purchase it, the November judicial review will reveal that, CCFC has to have value for someone who wants to purchase ACL? It's hardly surprising that SISU declined to sell to Haskell as there was no money in the offer, they were just asked to walk away with their losses.

 

[oldskyblue58]

errr the lease ACL have is for 49years and 362days from 19/12/2003. The freehold is held by the council who also own 50% of ACL together with a charge over all ACL assets to secure their loan of 14.4m.

How does CCFC allow any access to ACL exactly? CCFC are no longer a tenant, their owners do not want to rent, the lease is sitting in a company that has applied to be liquidated. They are in no better position to buy into ACL or the freehold than any other investor in reality because they have broken the link.

Would CCFC add value to ACL....... isnt it more likely that being at the Ricoh would add value to CCFC?

Fans tend to think only from the club side of things ............ there are more than one side to this. The club, the owners might need the Ricoh but ................

 

[oldskyblue58]

SISU have said the only way they would return is buying the freehold.

But is it for sale ?