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Old 08-02-2019, 11:41 AM
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Quote:
Originally Posted by Celestial Empire View Post
But they may find it pretty hard to sell the plot with the stand planning approval hanging over it, without making a deal with Palace. Or, if they sell the store as a going concern (say, to the Co-op), the new owner might be much more amenable to a deal.
Why would they sell the land if they sold the store? The store carpark would probably be sold with it but not the main carpark which is not part of the store. There are two separate bits of land here

a. The Store and front carpark and garage. This may be sold or kept if Sainsburys re-organise but it does not impact on the Stand as such. Sainsburys own the freehold so it would be unaffected by the Stand development other than the usual problem of being next door to a development - however that is not going to be something that can be changed if the development is going ahead

b. The rear carpark. Owned by Sainsbury's and let to the club. Presumable bought by Sainsburys as "landbank" in case they were ever allowed to expand or simply as an investment which they could sell for an profit. I cannot see why they would sell that to any new owner of the store or why any new owner would want to buy it particularly in view of the move towards smaller stores.

Planning makes little difference - in fact having the planning in place would probably make the land worth more on a sale because any buyer would know they had someone desperate to buy the land.

I am sure the club had a specific tactic in mind when pressing on with the planning application without owning all the land (and that may be a CPO as a last resort) but it is not the usual way to proceed. Once land has planning granted on it it becomes worth more simply because it has a defined future use which will make money.

Usually a developer will enter into agreements with landowners that are legally watertight before putting in any applications. precisely to make sure that they can proceed with the development when planning has been granted and to make sure that they cannot be held to ransom by the owner of land. However other football clubs have proceeded in this way as well so presumably they feel that a CPO would finally be granted if absolutely necessary.

Its all down to money - what is that land worth? Are the club prepared to pay what Sainsburys are asking. If not would a CPO actually say they had to buy it for less. Hopefully, but we do not know the figures or the arguments so cannot say
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Last edited by sw16girl; 08-02-2019 at 01:25 PM.
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