its worth????
MM and J10...
I reckon the both of you are right...and wrong!
The damage from the acquisition of WAAC still continues today. Because there is the JAA qualification and the fact that WAAC is an RTO, there are a number of overheads that NEED to be maintained REGARDLESS of whether there are students booked or otherwise.
When there is little activity, such as now, those costs continue to be a burden that are a HUGE drain on the rest of RACWA.
The prepayment of student fees, like the prepayment of flying hours by the members, DOES NOTHING for the organisation. They are a LIABILITY, and administration burden. The accounts need to be maintained and audited,( read cost money). The monies are only beneficial ONCE they have actually been spent by the student/member.
The value of Murrayfield....that is interesting...the whole of the 3 lots there have the appropriate zoning for residential (airpark), commercial and air activities as well as the runways NOW being registered as an airport.
The overall value of the land IS contingent on the WHOLE of the land being intact, IMHO, if 1 piece was "SOLD" off, then the value of the remainder would be diminished.
As for its current "whole" value...I would think that if the bank was to firesale it, i.e. 90 days settlement, then around $4m. If RACWA "controls" the sale, which is easily done, then $6m-$7m would be fair. RACWA CAN use the land as leverage to get a good result for their members...they just have to lose the culture that has been in existence since 2005!!!!
NEW YEAR WILL BE INTERESTING...STILL WAITING TO SEE THE BIG AD CAMPAIGN PROMISED BUT NOT ALLOWED TO SPEAK OF.