Income from the sale of The Dell site for housing

[eelpie]

When we sold The Dell site, income from this was (I thought) intended to finance the building of St Mary's. Yet we ended with a massive mortgage which is now crippling us.

Does anyone know where the income from this went or how it was distributed? Are we still benefitting from this at all?

 

Pompey's plans for their new stadium are now in jeapody because of the current fall in house prices. If housing was intended to finance their stadium, why didn't the sale of The Dell site finance ours? Something that has been puzzling me for some time. Anyone know?

[saintstr1]

Very Good Question ................ Over to you Mr Lowe,( I wont hold my breath)

[Sheff Saint]

i think we got about £4 mill for it. Don't forget house prices weren't quite as stong even in 2001 (i.e i bet it'd been worth £8 mil in Jan last year!). I think that money was pumped straight into the building of the SMS.

 

I'm sure someone will have a link to firm those figures up though.

 

Same applied to Hampshire CCc i think.

[Paul Chuckle]

Here is your answer

 

http://news.bbc.co.uk/1/hi/business/the_company_file/448938.stm

 

Southampton FC has agreed to sell its stadium, The Dell, to housing developer Barratt Homes in a deal worth £5m

 

 

Saints chairman Rupert Lowe: "We must leave the Dell behind"

The Premiership club plans to build a new 32,000 all-seater stadium, on the site of a disused gasworks, in the St Mary's area of the city.

 

Southampton FC moved to The Dell just over 100 years ago. In 1898 the cost of building a football ground was £10,000.

 

The total cost of building a new stadium in St Mary's will be about £30m pounds.

 

The site will include banqueting facilities for 900 people, 40 corporate hospitality boxes and office space.

 

Southampton plans to finance the move with bank loans, grants and a new share issue, which is expected to raise £3 million.

 

The sale of The Dell will need the approval of shareholders in Southampton Leisure, the stock market listed company which owns the football club.

 

The chairman of Southampton Leisure, Rupert Lowe, said the new stadium will increase revenues from home matches and from corporate events.

[AndyNorthernSaints]

i think we got about £4 mill for it. Don't forget house prices weren't quite as stong even in 2001 (i.e i bet it'd been worth £8 mil in Jan last year!). I think that money was pumped straight into the building of the SMS.

 

I'm sure someone will have a link to firm those figures up though.

 

Same applied to Hampshire CCc i think.

 

I heard the value of the Dell (5M i think?) was not higher due to it being near a football ground :-(

[CB Fry]

Very Good Question ................ Over to you Mr Lowe,( I wont hold my breath)

 

 

 

Good god, someone trying to start a "where's the money gone" rant for a £5m deal agreed nearly ten years ago?

 

What next - "where's the money gone" from the £2m we got for Tim Flowers?

 

[Scummer]

When we sold The Dell site, income from this was (I thought) intended to finance the building of St Mary's. Yet we ended with a massive mortgage which is now crippling us.

Does anyone know where the income from this went or how it was distributed? Are we still benefitting from this at all?

 

Pompey's plans for their new stadium are now in jeapody because of the current fall in house prices. If housing was intended to finance their stadium, why didn't the sale of The Dell site finance ours? Something that has been puzzling me for some time. Anyone know?

 

Briefly, I think the difference is that we sold the land to a property developer, whereas Pompey want to go into property development themselves (or at least in partnership).

 

Plus they've got more land. They aim to build on Fratton Park and also around the new ground. Not that it will ever happen...........

[70's Mike]

Good god, someone trying to start a "where's the money gone" rant for a £5m deal agreed nearly ten years ago?

 

What next - "where's the money gone" from the £2m we got for Tim Flowers?

 

 

just out of interest where did it go

[Window Cleaner]

just out of interest where did it go

 

Bruce Grobelaar bet it on the Donkey Derby at Romsey Carnival.

[davefoggy]

Good god, someone trying to start a "where's the money gone" rant for a £5m deal agreed nearly ten years ago?

 

What next - "where's the money gone" from the £2m we got for Tim Flowers?

 

 

too bloody cheap IMO

[chivvy1664]

No the shearer money dont get me started!