New Stadium - Where's the money coming from?

[Cal's Spongebag]

First. From a cold starting position, I am warming to the idea of the new stadium - as frankly the alternative of a lease running down to zero is less appealing. But how will it be paid for and at what cost? I know the crime rate and obesity rate, but have seen no mention of even a basic budget.

If we are expected to support what is probably the biggest change a century, we need a bit more assurance, financially.

I do understand that there must be sensitive negotiations between the council and the Harriers - and subject to planning approval.

A bit of googling and a chat with a surveyor suggests a price of £40k per housing plot and a density of around 10 per acre. How big is the Aggborough site? A football pitch is approximately 1.5 acres. Presumably the Aggborough site incorporates the car park at the south end and the areas to the east, north and west of the pitch up to the roads, railway line and southern boundary. I discount the car park at the north end as believe Harriers rent this. I have ignored the social club as I don't know what the deal is there - or of ownership of the car park behind the east stand. If we assume the areas surrounding the pitch are also 1.5 acres that would make 3 acres.

Alternatively, estimate the site as 180 yards along Hoo Rd and 100 yards the other dimension = 18000 sq yards or 3.7 acres.

If we assume between 3 and 4 acres that would value the building land at £400,000 per acre that would give a total value of £1.2-£1.6m.

The lease would have to be negotiated and there would be a number of issues at play. Would WFDC want to profit from the transaction other than to help meet their house building target plus additional council taxes? i.e. would Harriers 'get' the full value?

This value is a world apart from the £9m apparently mentioned at the sponsor's meeting. Was that figure explained in any way? So where are my figures wrong??

I am no expert, and I know there are many on here who could be able to revise some of my assumptions. Maybe between us we can get a better estimate.

[sprials]

work it out the other way

what is it worth to a builder

150 houses selling at £190000 ave =£28-29 million

33%- land
33% building
33% profit

making £9.5m for land /

[redandwhitemike]

The big builders with massive economy of scale in terms of supply contracts & labour work on a ROC (return on capital) of 20-25%.

A smaller developer would be much less.

[pricey5]

Council make around 8-9 million profit from us vacating the land early, they give us 50% of that to build a new stadium and everyone's a winner.

Plus I'm sure as some of the site will be used as a campus for students there are certain grants we can get to aid us, or a payment from the uni.

[Cal's Spongebag]

I know if you use the third/third/third rule and want to get £9m, you can say £27m, but who would pay £190k for a one bed studio on a postage stamp plot. Or are there more acres than I think?

PS I presume the estate roads will be named in honour of Kiddy's finest...

Deakin Cul-de-Sac (my idea of a joke as he always ran into a dead end)
Lolley Lane
Wassell Drive (already taken by Bewdley)

any others?

[Phil]

Gordon Gardens for the estate name but knowing builders it would be called Gazelles Leap, or Badgers Roost, or Herons Court.

[sandman]

Casey Close.
Davies Drive.
Brindley Boulevard.
Weir Way.

[jamestheimpaler]

Henriksen Heights
Molby Mews
Allner Alley

Or how about...
Advice-Desruisseaux Avenue?
Styche Street?

[harry211]

You're all missing the obvious one.

the Kidderminster Way

Colin would approve.

[garthrockett]

Presumably if there's a Watkiss Avenue it'll be a nondescript cul-de-sac?

[Northern Harrier]

Presumably if there's a Watkiss Avenue it'll be a nondescript cul-de-sac?

Just off Relegation Way..

[redandwhitemike]

Presumably if there's a Watkiss Avenue it'll be a nondescript cul-de-sac?

Just off Relegation Way..

Which is prone to subsidence,,,,,,,,,,,,,,,,,,,,,

EDIT Must have been the worst manager for Harriers in recent times.

[pershoreharrier]

It is a relatively small site for development so perhaps we could squeeze in a Serrell Walk which might be just off Nor Grove.

[PIRATE OF ZARAGOZA]

It is a relatively small site for development so perhaps we could squeeze in a Serrell Walk which might be just off Nor Grove.

Think you might find squeezing Serrell into anything is quite difficult

[TJU'S]

already have a Humphries Drive in Kiddy but yes any houses built on the Aggborough site should have Harriers references