The Takeover Thread - Duchatelet Finally Sells (Jan 2020)

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bertpalmer said:

I heard some time back that Palace were looking for training facilities and that they wanted Sparrows Lane could it be possible for anyone owning us to sell just sparrows lane to them??

I used to live in the road next to their current one in Beckenham. They did loads of work on them in past few years I think so would be surprised if they were going to move any time soon unless they are looking to sell the land and set up elsewhere as the site would be worth an absolute fortune.

Scoham said:

nth london addick said:

Rothko said:

So ITK types, do any of you think this will be done to give Bowyer time to do business in the transfer window?

No I don’t I don’t think it will be done this season

New deadline - May 2019 or after

I’m hearing something slightly less negative.

Covered End said:

Airman Brown said:

Covered End said:

Cafc43v3r said:

The land is worth nothing if you can't build on it. Unless you want it as a football stadium for another team.

Airman Brown said:

Cafc43v3r said:

The land is worth nothing if you can't build on it. Unless you want it as a football stadium for another team.

Indeed. That's the basis of the valuation.

Airman, whilst I do have some accounts qualifications, I'm far from an expert.

Please can you explain the value of The Valley plus Sparrows Lane in the accounts ?
I ask because you say the land is worth nothing.
Yet you then say you suspect RD had the land revalued to justify an increase in the sale price.

I'm fully aware that if the land can't be developed there is a question as to does it have a value.
But what is the book value of the land in the accounts ?
Thanks.

I wasn’t agreeing it was worth nothing. I was agreeing that it is valued for its current use, not some hypothetical other use.

Yes, but do you or anyone understand the accounts better than me ?

What is the value of the leaseholds is it £41M/42M as I said or am I wrong ?
I'm confused re the value at cost and the second valuation.

The net book value is £41M, which means the land has a value of £41M, doesn't it ?
If the land has a £41M value, then is this not why RD can set the asking price so high ?

Ok, so a new owner may not be able to develop said land, but as the value increases, when they sell they can get their money back, plus a profit in relation to the land value ?
I'm more than happy to be told I'm talking nonsense. I'm looking for an understanding.

The (re)valuation in the accounts will just be the opinion of one RICS chartered surveyor paid to provide his services. "Optimistic" valuations of commercial property are not unheard of and it's a quick way of making the accounts look better than they actually are I'd have thought. This recent article in Estates Gazette suggests that commercial property generally is 12.2% overvalued. https://egi.co.uk/news/overvalued-assets-near-tipping-point/ And that's for property where there should be a pretty clear valuation based upon projected rental incomes - not some poxy field with a trench running through it and a dilapidated pavilion.

There is also the problem with lack of precedents. Valuing a house or even a normal commercial site or office building is fairly straightforward as there are plenty of antecedents. Bits of land used for sports purposes with only highly speculative prospects for alternative use another matter entirely in my opinion.

Difficult two weeks? Firesale time? Although there's not much left to sell in the squad...

How prescient was the feller on the ground floor of the fridge in Woolwich back before this thread started who said if it meant getting Duchatelet out of our club he would take dropping to League 2.

One thing which should be clear to all CAFC fans, no matter how bad things or; - there is still room for matters to get worse !

Just reminds me of when I worked for a firm that had stopped paying us and the line would always be, "next Tuesday", then no phones would get answered till the following Thursday and it would be "definitely next Tuesday" again. This went on for a good 6 weeks and all the while they were saying it, their work was getting done.

JamesSeed said:

ok but please don’t shoot the messenger:

GM anticipating ‘a difficult two weeks ahead’.

But also that ‘it’ll all be worthwhile’.

'worthwhile'..??

A lot of fans won't see it like that if it's not done before this transfer window...

JamesSeed said:

ok but please don’t shoot the messenger:

GM anticipating ‘a difficult two weeks ahead’.

But also that ‘it’ll all be worthwhile’.

Which is slightly depressing if you hoped it would happen before the start of the season, but positive if you thought it wouldn’t happen this season at all, or they were pulling out.

I’m sure he’d want to apologise for not being able to share any proper details, but if you start breaking NDAs you immedistely lose all business credibility.



[*turns off phone, dives for cover*]


PS 16/1 is poor value.

Family holidays can be difficult in the summer.

I hope, for GM's sake, it is worthwhile.

Season over, mid table obscurity it is.

JamesSeed said:

Chris_from_Sidcup said:

JamesSeed said:

ok but please don’t shoot the messenger:

GM anticipating ‘a difficult two weeks ahead’.

But also that ‘it’ll all be worthwhile’.

Which is slightly depressing if you hoped it would happen before the start of the season, but positive if you thought it wouldn’t happen this season at all, or they were pulling out.

I’m sure he’d want to apologise for not being able to share any proper details, but if you start breaking NDAs you immedistely lose all business credibility.



[*turns off phone, dives for cover*]


PS 16/1 is poor value.

And so the cycle begins again.

Date that people thought something might be done by expires. People start to lose hope. Someone pops up with a new date.

So now we have to wait another 2 weeks minimum.

It’s not a date. As you say it’s a minimum.

A minimum can mean anything.
2 weeks
2 months
2 years.
This season is a total write off before a ball has been kicked.

JamesSeed said:

ok but please don’t shoot the messenger:

GM anticipating ‘a difficult two weeks ahead’.

But also that ‘it’ll all be worthwhile’.

Which is slightly depressing if you hoped it would happen before the start of the season, but positive if you thought it wouldn’t happen this season at all, or they were pulling out.

I’m sure he’d want to apologise for not being able to share any proper details, but if you start breaking NDAs you immedistely lose all business credibility.



[*turns off phone, dives for cover*]


PS 16/1 is poor value.

Sounds to me like they’ve just put a bid in for Orient instead...