Olympic Stadium Discussion and Questions

[Mega Ron]

Will you be on the march HD1?

[GreenIron]

The the real money they made from selling the Boleyn came after it was sold by West Ham.

I would love to see a public enquiry into the OS include looking at the sale of the BG and where the money changed hands from the subsequent property deals.

Dildos my arse. Sullivan’s money comes mainly from property.

[Wembley1966]

I would be a strange thing indeed if WHU sold the Boleyn for one amount and it got sold on for a much larger amount a small time later.
Imagine if that were to happen eh?

I'm hoping that the 2017 accounts will show how much it was actually sold for. The Club charged the ground to Boleyn Phoenix Limited in March 2014, but the charge was only satisfied on 26 June 2016. The previous accounts seem to show is that it was sold for £8m profit - i.e. £8m more than its valuation on the balance sheet. What's not clear is the valuation - which was actually written down by £51m in the 2013 accounts when they stated that they were going to sell it. This is not unusual as with the stands and infrastructure it is worth a lot more for a football club to use it than just the land for development that it sits on.

We'll then determine how much Galliard and Vince Goldstein made from selling it on.

[Georgee Paris]

Then presumably it’s just a question of finding the pay off or link?

[Samba]

Then presumably it’s just a question of finding the pay off or link?

Which I presume will be nearly or actually, impossible to connect it to anyone currently at WHU...

[hammerdivone]

Will you be on the march HD1?

No Ron, I'll be in Bulgaria skiing.

Know plenty who will and will be there in spirt

[simon1982]

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[Claret&Blue,Thru&]

Dildos my arse.

Eh?

[Luke (THFC)]

The Boleyn was sold to galliard homes (very strong links to West Ham and local to good old sully). It was then flipped again to Barratt’s who are developing the site. if you think he (sully) never profited personally off it in anyway, shape or form then you are deluded. Why would it not go to the highest bidder in the first instance in the best interest of the club. It was no secret that we were selling the ground.

It’s well known that the owners are a bunch of scummy toe rags so nothing would surprise me with them. The lot of them have no shame.

The ground sold for 35m. Absolute pittance! 850 homes will be built with the cheapest one at 350k. I appreciate it will cost a fair whack to erect but once sold sales will still be north of 350m.

I’m speculating but some deal was probably struck with the owners and developers.

The usual (very rough) rule of thumb when looking at a property deal is. One third to buy the land, one third to build the property and one third profit. Of course the Boleyn site also had some extra costs for demolition and removal of the old stadium but if 850 residential units are being developed then I would’ve thought the site would be valued at somewhere between £80 and £100 million as a building plot.

[GreenIron]

Dildos my arse.

Eh?

Perhaps I could have phrased that better. :lol:

[Dwight1970]

I was by told by a pretty experienced property developer in 2014 that anywhere upwards of £70m would have been a realistic figure at the time he would have expected to pay the amount of land for residential development in Newham that the club put up for sale.

From I understand using Google that in 2016 the land value in Newham for residential development was £10.2m per hectare and the Boleyn site was 8 hectares, someone with a better understanding might be able to confirm this?

[RM9]

Search for it on Rightmove (data from land registry).

£40,000,000

Terrible business if you ask me.

[Dagdave]

I dont want to go to the athletics bowl anymore so i havnt renewed ,However i am tempted to go just once more and climb over the barrier and take my seat were david gold said the seats would be. I would sit down peacefully and watch the game. I wonder what would happen l

[NorthernIron]

The usual (very rough) rule of thumb when looking at a property deal is. One third to buy the land, one third to build the property and one third profit. Of course the Boleyn site also had some extra costs for demolition and removal of the old stadium but if 850 residential units are being developed then I would’ve thought the site would be valued at somewhere between £80 and £100 million as a building plot.

...and they even saved on some of the demolition costs by blowing parts of the ground up for that ‘blockbuster’ movie...

[Dwight1970]

Search for it on Rightmove (data from land registry).

£40,000,000

Terrible business if you ask me.

From what I can understand the value of the land and that would not have been just the ground but the whole areas owned by the club would have a higher value for residential development than as a sporting arena, it maybe that the club did not own all the land so therefore are only accounting for the money they received but £35m seems low amount based on what I have read and been told for the whole site.

[sutts07]

Stade Velodrome in Marseille is an almost perfect circle in shape when you view it from the sky...

https://binged.it/2omg5Cu

But they have managed to f**k their running track off, square off the seating at pitch level and still have seats all the way up and back to the outer perimeter at every point in the stadium (we would need a curved roof like theirs to do that).



London Stadium is more oval shaped...

https://binged.it/2omjDoe

But even so, there is absolutely no reason what so ever that the same could not be done as long as you had a; permission b; a huge chunk of change in your Miss Piggy bank... neither of which we have.



The Luzhniki Stadium in Moscow is the final ideal example of what can be done...

https://binged.it/2olktBK

Very similar to London in that it had an oval shape, a running track and a completely flat upper tier and roof to it...



So they sent the bulldozers in... completely gutted the inside...



And ended up with a football stadium...



So... Lady Brady of London...

In summary, please don't tell us that nothing can be done about the seating in the stadium due to a flat roof above (that we fitted) or some contaminated land under foot. Because it is abundantly clear that what you really mean is, there is no way you would ever be able to afford or fund the huge renovation costs needed to make the London Stadium a truly world class, fit for purpose football stadium.

[Doc H Ball]

Excellent work Sutts

[mushy]

Search for it on Rightmove (data from land registry).

£40,000,000

Terrible business if you ask me.

Terrible business indeed if somehow it got sold for half as much again not long after.
Luckily for us supporters it never happened - as far as I am aware.

[Samba]

So... Lady Brady of London...
In summary, please don't tell us that nothing can be done about the seating in the stadium due to a flat roof above (that we fitted) or some contaminated land under foot. Because it is abundantly clear that what you really mean is, there is no way you would ever be able to afford or fund the huge renovation costs needed to make the London Stadium a truly world class, fit for purpose football stadium.

They didn't want to spend on replacing the UP East Stand. There's even less chance of them agreeing to spend anything on the OS.
Great work, sutts

[HammerMan2004]

The trouble with the London Stadium compared to the Luzhniki is that we don’t have any walls. If you gut the “inside” you literally leave a roof and some white bars around the side. Don’t forget lots of money went into trying to make the temporary upper tier into a permanent one. This ground was never built to last in its current guise.