Albert Tatlock 12,228 Posted November 22, 2012 Share Posted November 22, 2012 Had a look at the site plans yesterday and the area sold by the corpy to Rural Views in 2006 is about a third of the total area and went for approx. £850 per sq metre To buy back the whole site at £2,500,000 works out at approx £1,200 psqm, around a third more than the price at the peak of the property market Reasons to justfy this hefty increase were: "marriage value" that is to say a bigger site is worth more psqm than a small one and the Sefon Group's insane purchase for £6,000,000 of the adjoining site (good luck with that BTW) Whoever cut this deal for the corpy wants their arse kicked down to the dole office, bugger all is getting built at the moment and there seems little prospect of that changing in the near future. The vendors have snapped up that site piecemeal over the last 20yrs and even at the 2006 corpy price would have made a decent profit Every time a deal is done involving public money the public gets it's pants pulled down, are the public sector professionals really that much thicker than their private sector counterparts ? Or is there more to it ? Does the Public Accounts Committee (PAC) have an overriding remit here to investigate this matter in detail? Seems to me someone should be auditing it properly. Should someone be writing these concerns to PAC? 1 Quote Link to post Share on other sites
Lisenchuk 4,501 Posted November 22, 2012 Author Share Posted November 22, 2012 So it's now clear that the Corpy made the site significantly more valuable to Rural Views by selling there 1/3rd of the plot in 2006. This revelation raises questions as to what the Corpy's 5 year development plan was back then and why it's so contrary to what they propose now. If this goes ahead they will have cost the Ratepayers a sizeable loss and suggests they aren't very competent at protecting Ratepayers interests effectively. Quote Link to post Share on other sites
Chris Thomas 224 Posted November 22, 2012 Share Posted November 22, 2012 Had a look at the site plans yesterday and the area sold by the corpy to Rural Views in 2006 is about a third of the total area and went for approx. £850 per sq metre To buy back the whole site at £2,500,000 works out at approx £1,200 psqm, around a third more than the price at the peak of the property market Reasons to justfy this hefty increase were: "marriage value" that is to say a bigger site is worth more psqm than a small one and the Sefon Group's insane purchase for £6,000,000 of the adjoining site (good luck with that BTW) Whoever cut this deal for the corpy wants their arse kicked down to the dole office, bugger all is getting built at the moment and there seems little prospect of that changing in the near future. The vendors have snapped up that site piecemeal over the last 20yrs and even at the 2006 corpy price would have made a decent profit Every time a deal is done involving public money the public gets it's pants pulled down, are the public sector professionals really that much thicker than their private sector counterparts ? Or is there more to it ? Does the Public Accounts Committee (PAC) have an overriding remit here to investigate this matter in detail? Seems to me someone should be auditing it properly. Should someone be writing these concerns to PAC? Petitions Officer, Local Government Unit, DOI, Sea Terminal Building, Douglas IM1 2RF is seeking views on the Council petition to purchase this site. Deadline Friday 30th November. Quote Link to post Share on other sites
Lisenchuk 4,501 Posted November 22, 2012 Author Share Posted November 22, 2012 Whilst we're on the subject of poor value for money,does anyone know how much rent the Corpy pay for the current Library? Quote Link to post Share on other sites
manxman8180 387 Posted November 22, 2012 Share Posted November 22, 2012 I wanted to know the answer as well, so I went down to the Library and asked to see the books. I'm up to 'F' so far and there's no sign of any details of costs. I think it's a conspiracy. I should be done some time next year though, so I'll let you know. 2 Quote Link to post Share on other sites
Chris Thomas 224 Posted November 22, 2012 Share Posted November 22, 2012 I wanted to know the answer as well, so I went down to the Library and asked to see the books. I'm up to 'F' so far and there's no sign of any details of costs. I think it's a conspiracy. I should be done some time next year though, so I'll let you know. Property and Fixed Plant for library is in budget at around £190,000 in recent years. See page 59 at http://www.douglas.gov.im/pagedownloads/706.pdf Douglas Library has internet access as well!!! Quote Link to post Share on other sites
mal48 62 Posted November 22, 2012 Share Posted November 22, 2012 If anyone is looking for the planning application orange notice for Cambrian Place it is tucked away down Muckle Gate lane and behind the Co op and Caff wheely bins. So much for displaying in a prominent place for the public to read. Quote Link to post Share on other sites
cheeky boy 805 Posted November 22, 2012 Share Posted November 22, 2012 Whilst we're on the subject of poor value for money,does anyone know how much rent the Corpy pay for the current Library? About 3 times the going rate, when we occupied the same sized building next door but one to the library the rent was about 50k pa. Begging the questions: who owns the freehold and who at the corpy signed off this absurd lease ? Whilst we're on the subject, how much do the corpy pay Dan for the lease of the cleasing depot at Spring Valley Est.? bearing in mind they owned freehold the depot at Lake Road before selling it to ? Oh aye, it was Dan again 2 Quote Link to post Share on other sites
Manx 3 Legs 22 Posted November 22, 2012 Share Posted November 22, 2012 Whilst we're on the subject of poor value for money,does anyone know how much rent the Corpy pay for the current Library? If you wish to rent a property in Victoria Street starting prices cica £200,000 per year?, please take note the corpy rent "TWO", the Library and the Saviour of Douglas Chris Pycroft and his faithful companion "Town Centre Manager" reside in Victoria Street rent ??? have a guess. We need to relocate both and save money answer on a postcard. Quote Link to post Share on other sites
Kopek 2,257 Posted November 23, 2012 Share Posted November 23, 2012 Whilst we're on the subject of poor value for money,does anyone know how much rent the Corpy pay for the current Library? If you wish to rent a property in Victoria Street starting prices cica £200,000 per year?, please take note the corpy rent "TWO", the Library and the Saviour of Douglas Chris Pycroft and his faithful companion "Town Centre Manager" reside in Victoria Street rent ??? have a guess. We need to relocate both and save money answer on a postcard. Both?? Why? Quote Link to post Share on other sites
manxy 1,478 Posted November 23, 2012 Share Posted November 23, 2012 Whilst we're on the subject of poor value for money,does anyone know how much rent the Corpy pay for the current Library? About 3 times the going rate, when we occupied the same sized building next door but one to the library the rent was about 50k pa. Begging the questions: who owns the freehold and who at the corpy signed off this absurd lease ? Whilst we're on the subject, how much do the corpy pay Dan for the lease of the cleasing depot at Spring Valley Est.? bearing in mind they owned freehold the depot at Lake Road before selling it to ? Oh aye, it was Dan again Far too many coincidences of the same people and firms getting the tenders, but who knows, maybe they're just the lowest price at the time and maybe I'm just seeing shadey dealings or opportunities when there isn't any? The thing that comes up time and time again is that the public always seem to lose out and maybe it's time to get rid of those who do not have the foresight to save money for the general public or somehow always appear to be in the middle of decisions leaning to certain parties. Know what I mean? Quote Link to post Share on other sites
cheeky boy 805 Posted November 23, 2012 Share Posted November 23, 2012 As Lisenchuk points out, why would the corpy sell the land at Cambrian place only to buy it back later for a third more ? Possible answers are : a, they have no strategic plan and only do things on a as hoc basis : b, this was an accounting excercise to put the books 605,000 up for that year : c, they are thick : d, brown envelopes As an aside, b is not an uncommon practice. Our beloved incinerator was sold to a bank and leased back over 30 years soon after it opened 1 Quote Link to post Share on other sites
Amadeus 2,532 Posted November 23, 2012 Share Posted November 23, 2012 There is no corruption in the Isle of Man. There also are no drugs, no poverty, no sex offenders and no problems with the economy. Now move along and discuss the weather or how lovely the island looks today. That's what they told me to type or they'd shoot my cat... 2 Quote Link to post Share on other sites
Donald Trumps 5,538 Posted November 23, 2012 Share Posted November 23, 2012 In these straightened times, the corpy should take over existing property if it 'has' to expand Empty sites should be turned into parkland to make Douglas 'beautiful' 1 Quote Link to post Share on other sites
Albert Tatlock 12,228 Posted November 23, 2012 Share Posted November 23, 2012 I wanted to know the answer as well, so I went down to the Library and asked to see the books. I'm up to 'F' so far and there's no sign of any details of costs. I think it's a conspiracy. I should be done some time next year though, so I'll let you know. I won't be going again. I asked if they had any good Noddy books and the busty woman librarian that works there just slapped me. 1 Quote Link to post Share on other sites
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