Wasps in Kent

If Kent council are anything like Cornwall council they will promise the world for the next 20 years and then put the plans in the shredder!

knightandday wrote:

I would have thought raising the cash wouldn’t be too much of a problem. Sell the housing off plan would raise the cash. Time would be the factor as it would take years.

South East housing deficit is the key. Use rugby club as (i) potential employer and (ii) s106 offset for sports facilities.

Self funding stadium:

2,900 houses at average 21% net margin say, 2,900 less 40% social housing (bargained down to 25%).

So 2,900 x 75% x £400,000 [*average price] x 21% = ~£150m to £200m less build cost of social housing say, £100m less land cost £??? (some allegedly owned by golf club)

Fun eh!!

Feel free to pull apart!!

* more likely £500,000-£600,000 given time delays

Kent 2023 - Zoopla average house price

Detached - £643,847

Semi-detached - £416,932

Terraced - £321,660

Flats - £218,350

- meets Local Plan 2040 objectives

- close to London & Channel ports

- buoyant buy-to-let market

- one of few areas where house prices are still rising

- additional £6m [Band D ~£2,000] in Council Tax (and yes, there will be extra costs)

Ideal venture capital funded project Wink

Edited by FHLH - 03 Jan 2024 at 13:58

"My father told me big men fall just as quick as little ones, if you put a sword through their hearts."

Scrumtime wrote:

You forget the long list of people that need to be paid including HMRC and DCMS and the little matter of £35m to bond holders ...Need to sell a good few houses ..

But, how do you pay those creditors from new funding body? If a way round can be found around Insolvency legislation....

Edited by FHLH - 03 Jan 2024 at 14:25

"My father told me big men fall just as quick as little ones, if you put a sword through their hearts."

Scrumtime wrote:

Furious villagers hold tractor protest over plans to build 28,000-seat rugby stadium and housing estate on greenbelt land (msn.com)

Not wanted in Kent

100% are the Wasps Wanderers not wanted. I cannot believe Sevenoaks council are even considering this nonsense.

I believe the council will be obliged to consider the application.

And I do not believe commercial viability - of the new application or the existing businesses - is among of the things they are permitted to look at.

The developers know what the council has to consider, and will have worded the proposal so it fits with the "local plan" or as it is known in the common tongue, the requirements imposed on the County council by Central Government.

Remember, Michael Gove is going to punish all the lazy councils who do not have plans to build the houses he has promised.

Sweeney Delenda Est

Wasps in Kent - Event Date: 24 Oct 2023