Re: Ground Purchase latest : Tue May 24, 2016 12:27 pm
vastman wrote:
I know but even after that we are sitting tenants with a recently negotiated long term lease as far as I'm aware - not sure who'd want that. Also there are a number of issues with BV that make it a poor and very expensive site to develop, certainly for housing or retail which is what you'd want to put there.
As I say as far as I'm aware it's the SuperBowl site that has the interest especially for the Mosque.
As I say as far as I'm aware it's the SuperBowl site that has the interest especially for the Mosque.
The Mosque group want both from what i understand, for both the Mosque itself and an array of community facilities, one of which could well be a sports pitch. The lease is for four seasons after this one and is up for a yearly review at the end of every October. I suppose a new owner may want to go back to charging more to try and 'persuade' us to move elsewhere. The site has contamination issues but wouldn't be an issue to a buyer with deep pockets and when the plan is community use.
All that said i'd be surprised if the community trusts bid wasn't accepted as the bank gets its cash quicker that way. My main worry then is how much money would then be available from Yorkcourt for improvements or how long it would take to get hold of.