West stand for sale

[Adz]

6.5 million gbp. Currently yielding 8.37% not a bad little earner. Anyone remember what Hearn paid for it when it was built?

[Currywurst and Chips]

£5, other three stands came with it

[Long slender neck]

Wasnt this for sale a while ago?

[Ronnie Hotdogs]

This is old news,isn't it?

Has it not sold then? I do hope Barry and Little Edward are managing to make ends meet in the meantime.

[Ronnie Hotdogs]

The pension fund for a guy that must be over seventy should gift the stand back to lofc

Yeah the new owners "have a great relationship with the pension fund "blah blah

Diplomatic statement - they can't say anything else can they

Does Barry still pop along?

[Ronnie Hotdogs]

Yeah when no one around and not on a match day

I didn't mean rent collection day.

[Currywurst and Chips]

Who wins rich guy top trumps

Hearn or Teague?

[Lucky7]

Thought it was the drs surgery for sale

[Lucky7]

Yeah when no one around and not on a match day

I didn't mean rent collection day.

the monthly rent goes straight into his pension fund by direct debit on the first of each month unless he is very nice and allows a slight delay

i let any others take over on this theme if they wish -it not nice for lofc ( I acknowledge travis said recently it's a competitive rent ) and it's quite tiresome and I ain't got the stamina for the whole history anymore

So if you where a landlord you’d say don’t worry about the rent (I don’t think so)
I’m sure Teague and Travis Have enough business savvy to know what they where getting into re buying into Leyton Orient
Your conspiracy theories re Orient are I have to say bordering on pathetic

[Scuba Diver]

Hearn is, essentially, a parasite; feeding off Leyton Orient FC.

[Max B Gold]

Yeah when no one around and not on a match day

I didn't mean rent collection day.

the monthly rent goes straight into his pension fund by direct debit on the first of each month unless he is very nice and allows a slight delay

i let any others take over on this theme if they wish -it not nice for lofc ( I acknowledge travis said recently it's a competitive rent ) and it's quite tiresome and I ain't got the stamina for the whole history anymore

As it is a commercial property I suspect the rent is paid quarterly.

[Ronnie Hotdogs]

I also understand there is no DD in place; Edward turns up with a large wheelbarrow every three months which T&T have to fill to the brim.

[A Pedant]

Wasnt this for sale a while ago?

Yes, just over a year ago: https://www.leytonorient.com/2019/02/08 ... est-stand/

I'm going to guess that it didn't sell and it's been put back on the market again, as the brochure download on Allsop's website is now dated March 2020.

Just to try and dispel a few myths - this is nothing to do with the club's lease on the entire ground to a Matchroom Pension Scheme. This is the 999-year lease on the entire West Stand that the club sold to Samuel Beadie (Leyton) Limited ('SBLL') for £1.5m in 2004. It did so as a convoluted means of selling off what was then void space in the West Stand, in order to raise capital to complete the West Stand after the build cost went up. The club in turn has a 999-year peppercorn rent on its part of the West Stand (i.e. the facilities for fans, office space and facilities).

So in lease terms this all sits above the 2009 sale of the entire ground (that is, the bits the club uses) by the club to Matchroom Sports for £6m (and since sold on to a Matchroom Pension Scheme for the same amount).

SBLL has been in liquidation for some time, I don't know who acquired the 2004 West Stand lease and is now (again) trying to sell it. Whoever it is, essentially they're selling the doctor's surgery and pharmacy - but they have to sell the whole West Stand as that's what their lease is for.

TL;DR - nothing to do with the rent to Barry Hearn.

[Chief crazy horse]

Hearn is, essentially, a parasite; feeding off Leyton Orient FC.

Absolutely. And he f*cked our ground up in the process.

[Ronnie Hotdogs]

This is the 999-year lease on the entire West Stand that the club sold to Samuel Beadie (Leyton) Limited ('SBLL') for £1.5m in 2004. It did so as a convoluted means of selling off what was then void space in the West Stand, in order to raise capital to complete the West Stand after the build cost went up.

Just for the record, Uncle Bazza also owned Samuel Beadie (Leyton) Ltd, so he sold the West Stand off to himself at this open market valuation of £1.5m. The fact the value has subsequently quadrupled is just one of those things.

[Thor]

This is the 999-year lease on the entire West Stand that the club sold to Samuel Beadie (Leyton) Limited ('SBLL') for £1.5m in 2004. It did so as a convoluted means of selling off what was then void space in the West Stand, in order to raise capital to complete the West Stand after the build cost went up.

Just for the record, Uncle Bazza also owned Samuel Beadie (Leyton) Ltd, so he sold the West Stand off to himself at this open market valuation of £1.5m. The fact the value has subsequently quadrupled is just one of those things.

Yes and no.

At the time there wasn't an income through the letting of the space which would have increased its market value at that time. Subsequently that income helps to increase it's open market valuation. Hearn was smart in that respect.

[Ronnie Hotdogs]

This is the 999-year lease on the entire West Stand that the club sold to Samuel Beadie (Leyton) Limited ('SBLL') for £1.5m in 2004. It did so as a convoluted means of selling off what was then void space in the West Stand, in order to raise capital to complete the West Stand after the build cost went up.

Just for the record, Uncle Bazza also owned Samuel Beadie (Leyton) Ltd, so he sold the West Stand off to himself at this open market valuation of £1.5m. The fact the value has subsequently quadrupled is just one of those things.

Yes and no.

At the time there wasn't an income through the letting of the space which would have increased its market value at that time. Subsequently that income helps to increase it's open market valuation. Hearn was smart in that respect.

Yes, very smart. Great negotiation skills to agree that deal with the club.

[Give it to Jabo]

If games are played behind closed doors owing to Coronavirus, I assume season-ticket holders at all clubs will not get a refund, chance you take etc.

[Ronnie Hotdogs]

I'd expect a refund.

The club should be able to use Thors evidence and claim the lost income back under the Terrorism clause in their insurance policy.

[spen666]

If games are played behind closed doors owing to Coronavirus, I assume season-ticket holders at all clubs will not get a refund, chance you take etc.

Can you explain the link between the potential sale of the freehold reversion on the lease of the West Stand and the corona virus response potentially requiring games to be played behind closed doors?

[Max B Gold]

This is the 999-year lease on the entire West Stand that the club sold to Samuel Beadie (Leyton) Limited ('SBLL') for £1.5m in 2004. It did so as a convoluted means of selling off what was then void space in the West Stand, in order to raise capital to complete the West Stand after the build cost went up.

Just for the record, Uncle Bazza also owned Samuel Beadie (Leyton) Ltd, so he sold the West Stand off to himself at this open market valuation of £1.5m. The fact the value has subsequently quadrupled is just one of those things.

Incorrect. He owned 50% of SBLL.

[Lucky7]

Discussed at length on previous forum


https://www.tapatalk.com/groups/leytono ... 9-s60.html

[Ronnie Hotdogs]

This is the 999-year lease on the entire West Stand that the club sold to Samuel Beadie (Leyton) Limited ('SBLL') for £1.5m in 2004. It did so as a convoluted means of selling off what was then void space in the West Stand, in order to raise capital to complete the West Stand after the build cost went up.

Just for the record, Uncle Bazza also owned Samuel Beadie (Leyton) Ltd, so he sold the West Stand off to himself at this open market valuation of £1.5m. The fact the value has subsequently quadrupled is just one of those things.

Incorrect. He owned 50% of SBLL.

Thank you for the clarification.

[banqo]

If games are played behind closed doors owing to Coronavirus, I assume season-ticket holders at all clubs will not get a refund, chance you take etc.

We can squeeze into the pharmacy and watch from there!

[Max B Gold]

Just for the record, Uncle Bazza also owned Samuel Beadie (Leyton) Ltd, so he sold the West Stand off to himself at this open market valuation of £1.5m. The fact the value has subsequently quadrupled is just one of those things.

Incorrect. He owned 50% of SBLL.

Thank you for the clarification.

Nae bother, pal.