QUOTE (Andy Capp @ Oct 19 2015, 08:24 PM)
Correct (in the main) but that wasn't the point of the post: how is it that a developer cannot make a decent wad from a bit of land in the middle of Newbury when they have already been given it for free!
In the main, most developers are very highly geared. Their money is actually borrowed, dependent on the risk, at top end rates. They'll need to spend most of it up front and effectively doing nothing until the place is built and ready to sell. The rewards might well be high, but so are the risks. I'm sure you know that and one would have to believe our Council does as well.
Nothing wrong with pump priming, but the land need not have be given away, there are several other pretty obvious ways of using the land as a contribution, at worse, taking equity in the business for it. From what we've been told, it looks as if they haven't done that; which must suggest desperation. Not a good tactic and we know from experience locally just what that means from now on.
How many of us have written to our local Councillors asking these question? I haven't heard reports of any debate or serious discussion in the Council chamber. That must suggest our Councillors believe the majority of us are at least satisfied as things stand.