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Tynwald Mills Sold


Zammo Maguire
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I think there is a wider play here. Sandpiper CI was acquired by a consortium of Ravenscroft and Bailiwick Investments. These are the same people behind the Jacksons development and also the recent acquisition of Prospero. If what you say is true, with Tynwald Mills into their belt, then there's a clear move to grow their influence on the Island.

Edited by joeyconcrete
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I think there is a wider play here. Sandpiper CI was acquired by a consortium of Ravenscroft and Balliwick Investments. These are the same people behind the Jacksons development and also the recent acquisition of Prospero. If what you say is true, with Tynwald Mills into their belt, then there's a clear move to grow their influence on the Island.

Yes it's very strange you have private equity investors in the Channel Islands (some of them quite politically connected) buying strategic businesses in the IOM. They will influence quite a lot of key players in the Manx economy.

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They will influence the price of socks and underwear on the island. In all honesty it will not affect me as I don't buy anything from their, on the odd occasion will have a cup of tea and a cake. I prefer to buy clothing from off island. Better choice and great customer service and free alterations.

Edited by 2112
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They will influence the price of socks and underwear on the island

I think it's a fair question to ask when they will be selling most new and used cars bought in the IOM, and also control the biggest shopping centre outside of Stand Street. There will probably be more strategic purchases as well. It's quite clever I suppose as it seems to be allowing CI businesses to leverage different commercial relationships with the UK as the businesses up here will be able to trade within the common VAT area which the ones they own down there directly can't. It looks like a mini trading hedge fund is being put into place to arbitrage the various VAT and trading relationships between the UK / EU / IOM & CIs.

Edited by hboy
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Just had an email saying they had sold out to Sandpaper CI the largest retailer in the Channel Islands.

 

Getting out before Sports Direct sister company Flannels comes to the Strand Centre and decimates their clothing trade by any chance?

Tynwald Mills has nothing to fear. Why would they?

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They will influence the price of socks and underwear on the island

I think it's a fair question to ask when they will be selling most new and used cars bought in the IOM, and also control the biggest shopping centre outside of Stand Street. There will probably be more strategic purchases as well. It's quite clever I suppose as it seems to be allowing CI businesses to leverage different commercial relationships with the UK as the businesses up here will be able to trade within the common VAT area which the ones they own down there directly can't. It looks like a mini trading hedge fund is being put into place to arbitrage the various VAT and trading relationships between the UK / EU / IOM & CIs.

And why not eh?

 

Nice to see inward investment. Nothing to worry about here

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They will influence the price of socks and underwear on the island

I think it's a fair question to ask when they will be selling most new and used cars bought in the IOM, and also control the biggest shopping centre outside of Stand Street. There will probably be more strategic purchases as well. It's quite clever I suppose as it seems to be allowing CI businesses to leverage different commercial relationships with the UK as the businesses up here will be able to trade within the common VAT area which the ones they own down there directly can't. It looks like a mini trading hedge fund is being put into place to arbitrage the various VAT and trading relationships between the UK / EU / IOM & CIs.
And why not eh?

 

Nice to see inward investment. Nothing to worry about here

I do get from Marksie, but get excellent clothes etc, Primark, Slaters (free alterations!) and Nike Outlet for cheaper than normal prices.

 

Electrical items I have bought on island - Colebourns have been very good, and even if they can't match prices, they have gone over and above through other means and delivery and set up etc

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How can you have a monopoly these days here?

 

Jacksons coming won't stop people having the option to buy in the UK (which I've done for 3 of the last 4 cars I've bought).

 

Also, the sale of Tynwald Mills I assume is the sale of a shopping centre. Not the shop businesses. Which are privately owned and have leases. The mix there has been successful. Why would new investment owners change it?

Edited by notwell
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........monopolistic tendency?............

Yes it's very monopolistic. However everyone has a choice. We can also buy from EBay and Amazon, and if we do, we can help to boost the Islands VAT take. What I do find interesting is the companies from the Channel Islands buying Manx businesses and not vice versa. Perhaps the Channel Islands are buying Manx business at possible bargain basement prices?

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Perhaps business was BOOOOMING, making it a must required acquisition? Personally I doubt it, and if a business on the island was offered a generous deal, they would have been wise not to refuse. I can see the price of a cup of tea at the Neb Cafe, increasing somewhat.

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