Originally Posted by
Bill Darlington
Here's a great video off you YouTube for you Grumpy
https://youtu.be/ulu_HTsoTLM?si=QxnhVHgA6ikUDYV-
You may have seen it....it's 4 years ago, and Houchen is claiming that there will be 3.5 million sq ft built, later it was 1.9 million and more recently 2.8 million ????
So in 4 years just one unit, and less than 1%, very disappointing, and for the foreseeable future not likely to add much to revenues,
Unit D has been built, one of just 4 in the first phase, thereafter the joint venture will be not being building anymore, rather, renting out parcels of land for clients to build themselves, that's what I understand from the agents,
I did see some freedom of info requests made in the past but they were fobbed off, so I guess we'll never know the financing of the South side
If you read into the accounts there is some information into the funding of the Southside with a transfer of I think £6million from the airport to the joint venture to support it.
On a side note that was an expense in the accounts, so you could argue if that hadn't of been made the airport would of turned a profit last year! 🤔
The Southside is a joint venture. With a company 50/50 split with the airport. That company owns no land it is just a development and managment company currently.
So a different set up to the Teesworks area.
My point again is you can't complain that Ben is causing business to look elsewhere while advocating for the release of information that will almost certainly make those businesses go elsewhere! You are contradicting yourselves!