Shopping Centres, compensation and who's money is it?
DJ6, House building is quiet at the moment, but shopping centres such as The Trafford Centre (Peels), The Metro Centre, Teesside Park, all do very well and town centres collapse in the process.
Its all about the land with Peel, and the lure of the £20m was a carrot that the councils couldnt resist. Nobody monitored what they were doing and they are using the DTV losses to offset their other commercial concerns. Clever accounting its called.
One point regarding the court case:
If BMI had the contract with Teesside(DTV) Airport and they didnt honour it.
Why should Peel Plc receive the money, without it going straight into the DTV Airport coffers to replace the missing BMI contract money??
Surely it belongs to the airport and its other share holders?
Question; how many acres does DTV cover? and how far does the £500k Peel paid work out per acre?