THE PROPERTY FUND

[iscalad]

OK. Thanks to everyone who put me on the right track. Still don't think Right Wing's idea is a goer though.

 

[ianaplincorners]

I mean if you wish to rub everyone up the wrong way with your first sentence, then that's quite a way to do it.

As for the concept of running a property flipping business with a bunch of volunteers, then that's up there with your steak and chip restaurant behind the Big Bank idea, that was going to generate hundreds of thousands each year.

Didn’t this actually happen though? Serious question, I’m sure there was a steak restaurant (if that’s the right word) that opened behind the old grandstand back in possibly the 90s? It didn’t last long so I guess it didn’t work out!!

 

[ianaplincorners]

OK. Thanks to everyone who put me on the right track. Still don't think Right Wing's idea is a goer though.

It isn’t I agree, last time I checked we were a football club not property developers

 

[Colesman Ballz]

Didn’t this actually happen though? Serious question, I’m sure there was a steak restaurant (if that’s the right word) that opened behind the old grandstand back in possibly the 90s? It didn’t last long so I guess it didn’t work out!!

Wasn't that in the Russell and Lewis era ?

 

[Colesman Ballz]

I am pleased when people make the effort to try and come up with ideas to benefit the club, irrespective of whether they are good or not. It is a far more productive than those who simply sit on the ar$es and criticse them.

 

[STURTZ]

Right Wing has always come up with ideas about how we could progress, we should encourage such creative thinking. We are reaching a point now where our only progress can be downwards, it's been identified time and again that lack of attendance will stuff us and we'll sink back to L2.
Doesn't worry me too much, I'm old and happy with the current set up, but you youngsters should be thinking about our future if you really want us to progress.
Right Wing is 125.

 

[ramone]

Love to see anyone try and get ECC to help anyone out these days ! The only thing they seem interested in at present is closing roads and dividing communities.

Our local Ex Service personnel club has this week been closed for the very last time in part due to ECC asking for 5 years up front rent at the location for 40+ years.

Maybe ECC has like so many other councils up and down the country has a social care precept in place ?

 

[Antony Moxey]

Like Sturtz I agree it’s good to see someone thinking outside the box to try and raise cash for the club, however in this instance I think it’s completely unworkable. You might get volunteers willing to help out initially, but that will soon taper off, and the idea that we’ll turn a £20k profit every time I think is a bit wishful thinking. I get the concept, but I think the turnaround time would be too long and getting to the stage where we could afford the £3M+ to buy up Stadium Way properties would take an age.

i think too we’d need proper management of the project rather than willing volunteers - it’s not a simple process (despite RW’s solo successes) and would need professional project managers as well as separate financial controllers and someone to oversee the whole thing - all of these would need to be paid positions with suitably qualified people.

Then there’s buying up the Stadium Way properties themselves: when they become available. This might not be for fifty years, and when there’s just one left who’s to say they won’t bump the price as a ransom price? Personally I think the whole scheme would have too much money tied up for too long a period to be worthwhile. Who’s to say the club won‘t find themselves in financial difficulties somewhere down the line and need a cash bail out? Great, we’ve got millions tied up in property, however the country’s in a financial slump itself and property’s not shifting right now. Oh…

Sorry RW, it’s a good thing that you‘re continually looking to take the club forward, however in this instance I think it’s a non-starter.

 

[Mid Devon Grecian]

We have to Trust the club board to steer the ship in the right direction and sell a vision/proposition to us who are part owners.

The board is of a much higher quality than we’ve ever had in our history. Jeremy Tipper/Joe Gorman gave some pointers at last October’s Trust AGM.

I think we’ll drive down the socially responsible route as a Trust owned business with a Charity tagged (pun intended) on the side.

Invest in renewable energy to reduce overheads, seek Cert B status, partner with large corporates who want to feel good about supporting a fairly unique football club.

Property development/trading/letting is a shady business fraught with financial and reputational risks.

I’m sure we’ll also be trying to build the relationship with City Council to articulate our vision and see how they might be able to assist. I’ve noticed how ECC are quite adept at getting hold of Government funding which as we all know is not an easy task.

 

[Mid Devon Grecian]

Right Wing has always come up with ideas about how we could progress, we should encourage such creative thinking. We are reaching a point now where our only progress can be downwards, it's been identified time and again that lack of attendance will stuff us and we'll sink back to L2.
Doesn't worry me too much, I'm old and happy with the current set up, but you youngsters should be thinking about our future if you really want us to progress.
Right Wing is 125.

The youngsters are the ones totally priced out of the property market due to the oldies buying up property and having a holiday home or a few letting abodes.

I don’t think there’d be a huge wave of love if ECFC became the city’s biggest landlord!