Joined: Dec 29 2005 Posts: 2219 Location: Barnsley.
What's the exact wording of Axium's 106 agreement? Surly no funds will be released until any cast iron agreements have been made with any protentional tenants, even then you would think they have to be occupants of the units? If it's anything like the our timeline with YCP they could be looking at a good 5 years before any funds are available.
deeHell wrote:What's the exact wording of Axium's 106 agreement? Surly no funds will be released until any cast iron agreements have been made with any protentional tenants, even then you would think they have to be occupants of the units? If it's anything like the our timeline with YCP they could be looking at a good 5 years before any funds are available.
The S106 states that no part of the warehouse and distribution development "build" can start until full funds are released, however, my understanding is that doesn't include the groundworks and traffic improvement part of the scheme. But it would be prudent to presume that Axiom won't release the funds until they have that cost covered by cast iron agreements/contracts with their new tenants.
What's pink & hard first thing in the morning? The financial time crossword
Now Axiom have the planning in their back pocket…. What’s to stop them coming back to Cas and saying…… we can give you 9million now so you can start your redevelopment, otherwise your going to be waiting a long time because we haven’t got many companies signed up for the units. They could play a waiting game, knowing Cas need to get started Asap. It’s not like developers would try and stiff anyone now is it?
Joined: Oct 12 2005 Posts: 4231 Location: Barnsley
Belle Vue wrote:Now Axiom have the planning in their back pocket…. What’s to stop them coming back to Cas and saying…… we can give you 9million now so you can start your redevelopment, otherwise your going to be waiting a long time because we haven’t got many companies signed up for the units. They could play a waiting game, knowing Cas need to get started Asap. It’s not like developers would try and stiff anyone now is it?
The S106 states the have to pay £12.2m BEFORE any works relating to Axiom can start.
The Avenger wrote:There’s nothing to stop Castleford, trying it on either, they could go to the developer and say give us 10 million now instead of 12 million later
Very true… I suppose if they could chop some parts of the the development to get it to about 10 million then it might be worth it. But they will have shown their hand .. with the developer then offering them 9….. take it or leave it.
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