Pop Brixton (formerly Grow Brixton) Pope's Road development

Discussion in 'Brixton' started by editor, Mar 27, 2014.

  1. Jonti

    Jonti what the dormouse said

    Oh, very much in favour thanks. Except, of course, with the wrong sort :hmm:

    There's no especial link with Brixton BID
     
    editor likes this.
  2. aka

    aka Brixton Hill

    Teutcher's so old he uses an actual telegraph, daily.
     
  3. Jonti

    Jonti what the dormouse said

    Just to expand on this, in Brixton all payers of commercial rates are automatically members of the Brixton BID, by way of a levy on the business rates they pay. The BMTF CIC doesn't have any commercial property, but has been made a member anyway, to represent street traders. Stuart the Watchman is a member of both boards.
     
  4. editor

    editor Taffus Maximus

    An interesting snippet about the business interests of theoffshore-registered Kricket who were given space at Pop Brixton. You know, the place for local start ups.
     
  5. editor

    editor Taffus Maximus

    The whole thing is an embarrassment. Massive losses and no money paid back to the council despite being gifted the land for fuck all.
     
  6. editor

    editor Taffus Maximus

    And here's the multi-million pound property empire bloke behind The Collective. Spawned from a super rich background and educated at the Merchant Taylors private school, he's currently looking to “assess investor appetite and prove out the strength of the investment market for this emerging asset class”.

    Previous connections with Brixton = zero.

    The Fabulous Life Of Reza Merchant - CEO at The Collective – DealMakerz
     
    Gramsci likes this.
  7. aka

    aka Brixton Hill

    On the flip side, the council have invested (risked) fuck all - bar reputation, opportunity cost of not using the space for other stuff etc. I reckon someone is going to take a bath on this project, and there will be much hand wringing and bullshit negotiations come 2020 as the investors try to get some cash back out.
     
    Tricky Skills and editor like this.
  8. Brainaddict

    Brainaddict chief propagandist (provisional)

    I'm not making allegations, but it seems very odd to me they can' t make money when they got the land basically free. One wonders if a company in a profit-sharing deal where they didn't want to share profits might make a successful company look loss-making using sub-contracting and accounting methods.
     
  9. editor

    editor Taffus Maximus

    Quite how they managed to blow nearly TWO MILLION quid setting up a pile of tatty old containers on free land is something worth looking closer at. It was miles over their original estimate, so what happened? Incompetence? Dodginess?
     
  10. teuchter

    teuchter je suis teuchter

    The reporting in any case on their financial situation has been rather muddled and I don't think actually accurately presents the reality. I wonder if we'll ever get a clear picture of how the numbers work out at the end.
     
    elmpp and Tricky Skills like this.
  11. Brainaddict

    Brainaddict chief propagandist (provisional)

    I don't know, but it seems to me it would be very easy, for instance, for the director of the company to contract out the design and development process to a company owned by, say, their partner, which then massively overcharges. As far as I know there's nothing even illegal about that sort of thing - though happy to be corrected if others know differently.
     
    sealion and editor like this.
  12. Gramsci

    Gramsci Well-Known Member

    A fair number of Capitalist business go on for years at a loss. So Turner isn't that exceptional. Capitalism isn't about morality. My argument is with the New Labour/ Progress Council.

    These New Labour types have very naïve view of Capitalism. They really believed that Turner would fall over himself to give Lambeth Council a whacking great profit share. It's not how it works.

    The main fault is the Council who ideologically believe enterprise ( and Nu Labour share this with Thatcherites) is a good thing in itself.

    Pop is example of how they see the "enabling" Coop Council. Enabling Turner to end up with Peckham levels. His business solid base due to the active support of Council.

    Contrast this with the group of volunteers trying to re open Grove Adventure Playground. Volunteers who won't be remunerated. Much Council officer dragging of feet.
     
  13. editor

    editor Taffus Maximus

    They do, but not many are gifted a large chunk of juicy prime land for fuck all with the supposed strict understanding that it was only going to be around for a few years. So the cloth should have been cut accordingly. Blowing nearly £2m on a temporary site and then paying themselves millions in admin costs is unforgivable.

    They've taken us all for mugs and there should be an independent investigation into who's been trousering the lolly.
     
  14. Gramsci

    Gramsci Well-Known Member

    I was trying to look at the bigger picture.

    On Pop. At recent meeting I attended local businessman asked what Pop paid for site. As he just assumed this temporary use was bringing in income for the Council. The officers looked at the floor so I had to explain that it was a profit share but Pop didn't make a profit. Businessman looked incredulous that Council had done a deal like that.
     
    equationgirl and editor like this.
  15. Gramsci

    Gramsci Well-Known Member

    On another note. Council have decided to keep International House. ( The red brick building behind Rec) for five years whilst they work up plans for the land they own in central Brixton.

    Council are going to look for a provider/ business to manage the building. Idea is for affordable workspace.

    Ive heard that Meanwhile Space who also operate in LJ arches have expressed interest. I don't know if Turners outfit have.

    Hopefully Council will learn from mistakes of Pop project.

    Looking even further into future I am concerned about what will happen to this large Council owned site in future.

    Its Pop site, International House, Brixton Rec and market traders car park off Brixton Station road.

    Whilst Rec is Grade two listed this isn't total protection.

    There is still danger Regen officers may look at whole site as a redevelopment opportunity.
     
  16. editor

    editor Taffus Maximus

    One for Tricky Skills !
     
  17. Tricky Skills

    Tricky Skills I demand tea - NOW!

    *cough* we're already on it ;)
     
    editor and Gramsci like this.
  18. alex_

    alex_ Well-Known Member

    I assume pop is all about time softening up people so that most people forget that they’ve knocked down an ice rink and then sold the site to lexadon.

    Alex
     
    editor and Gramsci like this.
  19. aka

    aka Brixton Hill

    Tesco (via the council) put (paid for) a temporary ice rink on a car park as a sop for the massive redevelopment in Streatham, whilst the ice rink in Streatham got re-built.
     
    alcopop likes this.
  20. aka

    aka Brixton Hill

    Inexperience mostly. If you've not done a thing before, then there is a high % chance of fucking stuff up - which costs money.
     
  21. editor

    editor Taffus Maximus

    Then the council should never have awarded them the contract or invited ruthless capitalists The Collective to get involved. Funnily enough, The Collective seem to be absolutely raking it in everywhere else... :hmm: :hmm:
     
    equationgirl, alex_ and Gramsci like this.
  22. alex_

    alex_ Well-Known Member

    No one knows they are inexperienced - it’s normally bitter experience which teaches you.

    Alex
     
  23. editor

    editor Taffus Maximus

    Not sure why local taxpayers should be funding these risky ventures.
     
  24. alex_

    alex_ Well-Known Member

    So the council should sell the land to experienced people like lexadon ?

    The council has some land and needs money what should they do with it ?

    Alex
     
  25. shakespearegirl

    shakespearegirl just worked out taglines

    Perhaps a preferential profits deal? The first - however much - of the profits go to Lambeth before management can draw
    Anything down. They are getting the land for
    free so a massive part of their start up risk is being covered by the council.
     
    Gramsci likes this.
  26. shakespearegirl

    shakespearegirl just worked out taglines

    And an upfront agreed transparent procurement process for any payments over a certain level
     
  27. alex_

    alex_ Well-Known Member

    But there aren’t any profits, because “management costs” ( aka Hollywood accounting ).

    Alex
     
    Last edited: May 20, 2018
    ViolentPanda likes this.
  28. shakespearegirl

    shakespearegirl just worked out taglines

    Sorry that should read an agree ./. Of takings are dispersed to the council as a priority before any ‘management costs’. Not an impossible model to manage
     
  29. alex_

    alex_ Well-Known Member

    Aka revenue share.

    Alex
     
  30. editor

    editor Taffus Maximus

    Do you even understand the concept of a 'meanwhile' space?
     

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