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Finch Farm for sale (15.3m)


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#41 pete0

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Posted 12 Aug 2012 - 22:28

What benefit would it be?

If we bought it, the club would save millions in the long run (which isn't that long, as the rent is so high).
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#42 Louis

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Posted 12 Aug 2012 - 22:33

It'd pay for itself within 12 years... Everton have a 50 year lease
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#43 MatthewT

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Posted 13 Aug 2012 - 07:57

Well as some one else points out above, it's 1.2 million a year to rent for a 50 year contract. If we buy it outright it'll only cost us 15mil excluding VAT ( providing the asking price hasn't changed). That's a significant difference, albeit money spread over a long period.

Ha ha I didn't see that two people had already replied to the 'what benefit?' question! Seems i also need to read the whole thread before I post!

Edited by MoyesForPM, 13 Aug 2012 - 07:58.

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#44 StevO

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Posted 13 Aug 2012 - 12:12

If the club came out and said they have taken the Rodwell money and used it to buy the training ground, and no further cash for the playing squad, how would you react?

Would save them approx £1m a year in rent.
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#45 Romey 1878

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Posted 13 Aug 2012 - 12:17

If the club came out and said they have taken the Rodwell money and used it to buy the training ground, and no further cash for the playing squad, how would you react?

Would save them approx 1m a year in rent.


I'd wonder if our board had had brain transplants for brains capable of good business sense.
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#46 MatthewT

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Posted 13 Aug 2012 - 12:42

Any chance they could take a mortgage to secure it?! Potentially we could pay it off after 10-15 years and then it's ours! I suppose they'd have to find someone to stump up the mortgage but I doubt it's impossible to broker that kind of deal.
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#47 Louis

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Posted 13 Aug 2012 - 14:28

It's very possible. I'm half expecting it to happen.. we are guaranteed Premier League income this season and it's not been mortgaged against.
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#48 Louis

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Posted 10 Jun 2013 - 00:25

http://www.london-ga...73/all=05798738

Date: 28 May 2013 Issue Number: 60518 Page number: 10479
Publication Date: Tuesday, 28 May 2013

Notice Code: 2442

Meetings of Creditors

FINCH FARM LIMITED

(Company Number 05798738)

Recovery House, 15-17 Roebuck Road, Hainault Business Park, Ilford, Essex IG6 3TU

Principal Trading Address: Suite 1 Burney Court, 113 Manor Road, Chigwell, Essex IG7 5PS

Notice is hereby given pursuant to Section 98 of the Insolvency Act 1986 that a meeting of creditors of the above named Company will be held at Recovery House, Hainault Business Park, 15-17 Roebuck Road, Ilford, Essex IG6 3TU on 7 June 2013 at 10.30 am for the purposes mentioned in Sections 99 to 101 of the said Act.

Creditors wishing to vote at the meeting must lodge their proxy, together with a full statement of account at the registered office - Recovery House, Hainault Business Park, 15-17 Roebuck Road, Ilford, Essex IG6 3TU not later than 12 noon on 6 June 2013.

For the purposes of voting, a secured creditor is required (unless he surrenders his security) to lodge at Recovery House, Hainault Business Park, 15-17 Roebuck Road, Ilford, Essex IG6 3TU before the meeting, a statement giving particulars of his security, the date when it was given and the value at which it is assessed.

Notice is further given that prior to the meeting Allan John Clark of Carter Clark, Recovery House, Hainault Business Park, 15-17 Roebuck Road, Ilford, Essex IG6 3TU, who is qualified to act as an Insolvency Practitioner (IP Number 8760), will furnish creditors free of charge with such information concerning the Company’s affairs as they may reasonably require. The telephone number of Allan John Clark is 020 8524 1447. Ryan Sinclair who can be contacted on 020 8559 5092 will be able to assist with enquiries by creditors.

Resolutions to be taken at the aforementioned meeting may include a resolution specifying the terms on which the Liquidator is to be remunerated. The meeting may also receive information about or be called upon to approve the costs of preparing the statement of affairs and convening the meeting.

15 May 2013


Marco Stellon Director

(1831673)


They're (the company, not Everton, Everton don't own Finch Farm) four months behind with accounts and a fortnight behind with the Annual Return. Either the company is going to be closed/wound up or they'll file accounts. If it's being wound up, it probably means that Finch Farm has been sold.
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#49 Avinalaff

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Posted 10 Jun 2013 - 11:05

Why don't we just sell Fellaini and buy it?


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#50 Quinn31

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Posted 10 Jun 2013 - 13:39

Why don't we just sell Fellaini and buy it?

Not a terrible idea if we can get it for under-market value due to company having financial problems?


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#51 StevO

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Posted 10 Jun 2013 - 13:47

Surely if its going cheap it would be worth getting it back. I'm sure the bank would mortgage it should the repayments be less than the current rent.


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#52 Avinalaff

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Posted 10 Jun 2013 - 15:19

It would please the Blue Union too I expect, as we would be adding an asset of value, not to mention long term rental savings.


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#53 Louis

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Posted 10 Jun 2013 - 19:46

Liverpool City Council bought it last month for £13m.
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#54 Avinalaff

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Posted 10 Jun 2013 - 19:49

Liverpool City Council bought it last month for £13m.

 

I'm not sure that's a good thing or a bad thing. Could we see a 300 strong housing estate on our beloved training facilities?


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#55 Zoo

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Posted 10 Jun 2013 - 19:56

I think it's pretty safe because of where it is. They won't built a housing estate next to a runway.


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#56 MikeO

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Posted 10 Jun 2013 - 19:56

 

I'm not sure that's a good thing or a bad thing. Could we see a 300 strong housing estate on our beloved training facilities?

 

Pretty sure we're "sitting tenants", Whoever bought it did so in the knowledge that we'd be there for the long term.


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#57 Avinalaff

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Posted 10 Jun 2013 - 20:03

I think it's pretty safe because of where it is. They won't built a housing estate next to a runway.

 

Runway?


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#58 Zoo

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Posted 10 Jun 2013 - 20:21

 

Runway?

 

To the airport.


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#59 Avinalaff

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Posted 10 Jun 2013 - 20:25

 

To the airport.

http://wikimapia.org...show=/11235795/


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#60 Zoo

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Posted 10 Jun 2013 - 20:27

Well it's too close to the airport to comfortably live in. When I played there the sound of air-crafts was deafening and many times we would have to set-up the training again because the balls had rolled away.


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#61 Avinalaff

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Posted 10 Jun 2013 - 20:55

Well it's too close to the airport to comfortably live in. When I played there the sound of air-crafts was deafening and many times we would have to set-up the training again because the balls had rolled away.

 

Zoo, have you been drinking?

 

It's not even on the flight path. The planes come in over the Runcorn bridge and over the water before landing. You have the whole borough of Speke, and it's industrial estates between FF and the airport.

 

Admit it. You typed Finch Farm into Googlemaps and got Gold Finch Farm rd adjacent to the runway. :rofl:


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#62 Avinalaff

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Posted 10 Jun 2013 - 21:17

I've arrowed the training ground for you.

 

Untitled_zpscb1c4015.jpg

 

 

Not that any of it is relevant to it's sale to the council. It's location to the motorway network is ideal for Industrial purposes though. It used to be Greenbelt, so not sure how they got round that. Everton signed for 50 years, but not sure how it effects a transfer of ownership regarding any contract.

 


Finch Farm is the training ground for Everton F.C., in the Knowsley suburb of Halewood.

The School of Science is the nickname given to the complex by some supporters, referring to a long-standing nickname for the club. The training ground houses both the Everton first team and the youth academy. The first team squad officially moved to the complex on 9 October 2007, some time behind the target date of pre-season. Plans were drawn up for the Cheshire County Council owned site in 2002.[1]

Everton originally tried to find land in Liverpool but eventually settled on the 55-acre (220,000 m2) site, off Higher Road and Finch Lane in Halewood. Some Halewood residents fought the plans as the training complex and academy was built on greenbelt land.

Finch Farm was acquired in 2006 by Everton who later sold the land on for £2.1 million and then had it developed to the club’s specification by developers ROM Capital (an arm of the aAim Group) who are now known as Hudson Capital Properties.

Finch Farm was designed by North-West based architects AFL.[2] The contract was valued at £9million.[3] A site worker was killed during the final stages of development.[4]

On completion, Finch Farm was valued by ROM Capital at £17 M. Everton signed a 50-year tenancy agreement with ROM Capital for Finch Farm.[5] Everton have an option to purchase the site every 5 years.

Between the 2006/07 and 2007/08 financial accounts' "Other Operating Costs" increased significantly from £11.7m to £21.1m. The club largely attributed this rise to Finch Farm in the club's Financial Review in the annual report:

"Further significant increases in operating costs were also incurred in the year following the opening of the new Finch Farm training facility. The additional operating costs compared with those incurred at Bellefield are seen as a necessary investment to provide the appropriate training facilities required by both first team players and academy players at a Premier League club of Everton’s standing."[6]

In October 2011, Hudson Capital Properties put Finch Farm on sale, the asking price was £15.3million.[7]

 


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#63 Louis

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Posted 10 Jun 2013 - 21:36

Av', you are such a pedant! :rofl:

It looks like it'll be a controversial story. Liverpool City Council were told to make cuts and have made redundancies, yet spend millions on a football training ground.

Okay, it's an investment that'll see them make their money plus profit back after a few years, but people won't take kindly to it. I personally think it's a good fit but it won't be without its detractors.
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#64 Avinalaff

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Posted 10 Jun 2013 - 22:06

Av', you are such a pedant! :rofl:

It looks like it'll be a controversial story. Liverpool City Council were told to make cuts and have made redundancies, yet spend millions on a football training ground.

Okay, it's an investment that'll see them make their money plus profit back after a few years, but people won't take kindly to it. I personally think it's a good fit but it won't be without its detractors.

 

I can't help it ha ha. :lol: I don't mean any harm, but I must have folk pulling their hair out sometimes. :lol:


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#65 Kohen

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Posted 10 Jun 2013 - 22:43

It took me far too long to find that arrow! Shit colour choice Av!


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#66 MikeO

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Posted 10 Jun 2013 - 22:51

Av', you are such a pedant! :rofl:
 

 

He's got a point though, no planes anywhere near over FF at all by the look of it, so not sure how they can move a ball from four miles away :huh:.


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#67 Avinalaff

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Posted 11 Jun 2013 - 00:15

I like the fact that Blue is going somewhere, and red is coming back down to earth. :happy:


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#68 marcopaulo

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Posted 11 Jun 2013 - 07:55

i agree with zoo :shaking fist:


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#69 Peter H

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Posted 11 Jun 2013 - 09:24

It took me far too long to find that arrow! Shit colour choice Av!

 

Haha, me to. I looked and looked. Purple arrow Avin? 


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#70 Avinalaff

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Posted 11 Jun 2013 - 11:28

i agree with zoo :shaking fist:

Your balls are trembling too up in Chorley?

 

 

Haha, me to. I looked and looked. Purple arrow Avin? 

It was pretty :happy:


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#71 Peter H

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Posted 11 Jun 2013 - 12:28

 

It was pretty :happy:


Pretty confusing more like it :D
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#72 Louis

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Posted 11 Jun 2013 - 12:36

Joe Anderson spoke to Liverpool Echo. He says it's win-win for Everton and the Council.

BBC North West tonight are saying the council will make "tens of millions" out of Everton through the agreement.
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#73 Avinalaff

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Posted 11 Jun 2013 - 13:38

Zoo was right all along - my mistake.

 

 

lowplaneoverfinchfarm_zps726c4406.jpg

 

 


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#74 Quinn31

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Posted 11 Jun 2013 - 15:05

http://www.evertonfc...rm-announcement

Everton Football Club and Liverpool City Council are pleased to announce a new rental arrangement over the Club's Finch Farm training base.

The City Council has purchased Everton’s training and Academy facilities in a property deal which generates long-term benefits for both the Council and the Club.

Everton retains a long-term lease on the site and the new rental arrangement secures a reduced annual rental cost to the Club and an attractive commercial return for the Council.

Blues CEO Robert Elstone said: "We continue to work with the Council on many fronts and the Club is especially pleased to have delivered an innovative scheme, on our superb Finch Farm facility, that works for both parties."

Mayor of Liverpool Joe Anderson said: “It’s a very good deal for us, and for Everton.

“Over the lifetime of this arrangement we will get much needed revenue, which we can re-invest in essential services for the people of Liverpool.

“Together with the new Exhibition Centre, the Council regard such investments as innovative but vital in enabling it to meet its on-going budget challenges.”

The deal has been independently valued and verified.


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#75 Louis

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Posted 11 Jun 2013 - 15:17

I've just read that. It still doesn't make sense to me why Everton are happy with the situation.

I understand that not owning it allows for an increased cash flow. But what I don't understand is why that's preferred over taking on a mortgage to pay for it. Liverpool City Council have said they have borrowed to buy it and the BBC reported that they will make "tens of millions" from the deal.

Kopites are whining that it's Evertonian and season ticket holder Joe Anderson (Mayor of Liverpool) showing favouritism, reducing rent payments for Everton. There's probably an element of that. Anderson has already used it in a soundbite to say that the Council do things for Everton. It's a good deal for the City Council, it just shouldn't have become an opportunity.

The way I see it is Everton are renting a house for the next 46 years instead of buying it outright with a mortgage and paying it off within 10-15 years.
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#76 Romey 1878

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Posted 11 Jun 2013 - 15:21

It's just another example of the club only having a short-term plan and only thinking of short-term gain.

Sad really, but predictable.
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#77 Bailey

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Posted 11 Jun 2013 - 16:38

Zoo was right all along - my mistake.

 

 

lowplaneoverfinchfarm_zps726c4406.jpg

 

 

 

Brilliant Av!

 

It's just another example of the club only having a short-term plan and only thinking of short-term gain.

Sad really, but predictable.

 

Unfortunately so.


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#78 StevO

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Posted 11 Jun 2013 - 17:23

Short sighted as ever. Slightly better than before, but still not good enough.
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#79 efc1111

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Posted 11 Jun 2013 - 17:33

Under the previous deal the club had the opportunity to buy back FF every five years.  I haven't seen it mentioned in this latest deal but hopefully that clause remains.  Anybody seen it mentioned?


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#80 Kohen

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Posted 11 Jun 2013 - 18:07

 

 

 

lowplaneoverfinchfarm_zps726c4406.jpg

 

 

Moyes?!


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