Neil Down Posted February 16, 2018 Share Posted February 16, 2018 10 hours ago, finlo said: Too many mhk's on the board of H&B to ever ever allow that to happen! Really? Can you name any 1 1 Quote Link to comment Share on other sites More sharing options...
x-in-man Posted February 16, 2018 Share Posted February 16, 2018 More hotel spaces in Douglas Yay! Will compliment the hotel above the Isle of Nandos place ... that was to be a hotel as well right? Quote Link to comment Share on other sites More sharing options...
Rog Posted February 16, 2018 Share Posted February 16, 2018 So in all but name it's a PFI. I wonder how much tax payers money will end up going to the PFI consortium under very favourable terms to the PFI consortium. PFI's are proving to be a disaster to tax payers over here. 1 Quote Link to comment Share on other sites More sharing options...
John Wright Posted February 16, 2018 Share Posted February 16, 2018 5 minutes ago, Rog said: So in all but name it's a PFI. I wonder how much tax payers money will end up going to the PFI consortium under very favourable terms to the PFI consortium. PFI's are proving to be a disaster to tax payers over here. Where do you deduce a PFI from. Quote Link to comment Share on other sites More sharing options...
guzzi Posted February 16, 2018 Share Posted February 16, 2018 http://www.iomtoday.co.im/article.cfm?id=38688&headline=Lord Street development will be privately-funded§ionIs=NEWS&searchyear=2018 Further report here. It is said by Quayle to be entirely privately funded. So unless there is any public lease-back, it isn't a PFI deal. The bus-station will basically just be new shelters where the buses stop at the moment, as I understand it. Quote Link to comment Share on other sites More sharing options...
Rog Posted February 16, 2018 Share Posted February 16, 2018 12 minutes ago, John Wright said: Where do you deduce a PFI from. The article reads that it is to be privately funded. I wrote that "in all but name --- ". Quote Link to comment Share on other sites More sharing options...
Rog Posted February 16, 2018 Share Posted February 16, 2018 1 minute ago, guzzi said: http://www.iomtoday.co.im/article.cfm?id=38688&headline=Lord Street development will be privately-funded§ionIs=NEWS&searchyear=2018 Further report here. It is said by Quayle to be entirely privately funded. So unless there is any public lease-back, it isn't a PFI deal. The bus-station will basically just be new shelters where the buses stop at the moment, as I understand it. Any bets on how many bits will be subsequently leased by government some short way down the line? It's what happens here with such privately funded developments are sneaked through. Quote Link to comment Share on other sites More sharing options...
John Wright Posted February 16, 2018 Share Posted February 16, 2018 Just now, Rog said: The article reads that it is to be privately funded. I wrote that "in all but name --- ". But how is a privately built and funded hotel, car park, shops and apartment block a PFI, even “in all but name”. No public body is going to be paying an annual rent, or fee to use. No public money is going in. Its nothing like a PFI. On your use of the term anything could be described as PFI Quote Link to comment Share on other sites More sharing options...
John Wright Posted February 16, 2018 Share Posted February 16, 2018 2 minutes ago, Rog said: Any bets on how many bits will be subsequently leased by government some short way down the line? It's what happens here with such privately funded developments are sneaked through. But that’s wholly different. In any event government here is reducing its estate, realising under-utilised or unused assets. Quote Link to comment Share on other sites More sharing options...
guzzi Posted February 16, 2018 Share Posted February 16, 2018 2 minutes ago, Rog said: Any bets on how many bits will be subsequently leased by government some short way down the line? It's what happens here with such privately funded developments are sneaked through. It's a private development as far as I can see. I don't see any reason to do other than wish it success. It's about time Douglas got something to improve leisure time, not to mention provide more employment. Quote Link to comment Share on other sites More sharing options...
Rog Posted February 16, 2018 Share Posted February 16, 2018 6 minutes ago, John Wright said: But how is a privately built and funded hotel, car park, shops and apartment block a PFI, even “in all but name”. No public body is going to be paying an annual rent, or fee to use. No public money is going in. Its nothing like a PFI. On your use of the term anything could be described as PFI Just watch what happens down the line. 1 Quote Link to comment Share on other sites More sharing options...
Rog Posted February 16, 2018 Share Posted February 16, 2018 1 minute ago, guzzi said: It's a private development as far as I can see. I don't see any reason to do other than wish it success. It's about time Douglas got something to improve leisure time, not to mention provide more employment. On that I totally agree but ask how a commercial return on 25 million quid could be returned unless by some very lucrative leases being made and who better to take up such leases than the government. 1 Quote Link to comment Share on other sites More sharing options...
Rog Posted February 16, 2018 Share Posted February 16, 2018 6 minutes ago, John Wright said: But that’s wholly different. In any event government here is reducing its estate, realising under-utilised or unused assets. So flogging fixed assets and leasing office space results in getting cash in the short term but costs more in the long term. It's what happens here. 2 Quote Link to comment Share on other sites More sharing options...
yootalkin2me Posted February 16, 2018 Share Posted February 16, 2018 Rog, IoM Government is massively reducing it's lease agrrements and moving staff to Government owned properties therefore I very much doubt it'll be leasing any part of the development, ergo you are way off the mark. Quote Link to comment Share on other sites More sharing options...
John Wright Posted February 16, 2018 Share Posted February 16, 2018 (edited) 6 minutes ago, Rog said: So flogging fixed assets and leasing office space results in getting cash in the short term but costs more in the long term. It's what happens here. But gives a much more accurate costing of the actual economics of whatever service is provided. No reason why government shouldn’t hive off its entire estate into a holding company, held by the NI and Public Service pension funds and then rent back Edited February 16, 2018 by John Wright 2 Quote Link to comment Share on other sites More sharing options...
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