JFKvsNixon Posted July 29, 2013 Share Posted July 29, 2013 The article says the money is there. I don't think that's the problem though. Are any of you tradesmen? Have you ever had that one customer where nothing is right and they're forever changing things and moving the goalposts? I fear that Sheffield Council was Hammerson's awkward customer. It will be interesting to find out some inside information from the industry's point of view about it. For me the sticking point was that Hammerson didn't believe that the economy was strong enough to get the rent needed to fund the finance for the development. I think that they were holding out for the long awaited financial recovery. Link to comment Share on other sites More sharing options...
iansheff Posted July 29, 2013 Share Posted July 29, 2013 Lets hope that an alternative is lined up, and that was the reason that for the delay between the deadline and the council dropping Hammerson, because I fear in the current economic climate that they'll struggle to find someone to take on the project in anywhere near it's current scale. Doesn't sound like there is an alternative lined up, I thought it said could take 12 - 18 months to find another developer. Link to comment Share on other sites More sharing options...
Clown Shoes Posted July 29, 2013 Share Posted July 29, 2013 For me the sticking point was that Hammerson didn't believe that the economy was strong enough to get the rent needed to fund the finance for the development. I think that they were holding out for the long awaited financial recovery. I dont think that is true as they have invested nearly a billion pounds in other cities since 2008. So it would be easy to start slagging off the council and start saying 'we told you so' but i want to move forward. The obvious choice would be Scottish Widows who are already investing heavily in The Moor and really seem to have their act together. Expect to see some movement pretty quickly from them if they're interested to stave away any interest from other developers. Hopefully the council have already approached them or vice versa. Link to comment Share on other sites More sharing options...
mossdog Posted July 29, 2013 Share Posted July 29, 2013 Lets get one thing straight Hammerson have dropped the council,not the other way around.They know Sheffielders shop on price before quality, and where were all the retailers going to come from to fill all those new shops flogging Chinese made stuff and tat that we don't really need...............................probably Primark and Pounland might have been able to take 50 units each and knocked them into one, solving the problem! Link to comment Share on other sites More sharing options...
Jonny5 Posted July 29, 2013 Share Posted July 29, 2013 Right decision, at least two years too late. It has long been very clear that Hammerson had no interest in developing Sevenstone in its current scope. The recession was just a convenient excuse. Link to comment Share on other sites More sharing options...
Clown Shoes Posted July 29, 2013 Share Posted July 29, 2013 Lets get one thing straight Hammerson have dropped the council,not the other way around.They know Sheffielders shop on price before quality, and where were all the retailers going to come from to fill all those new shops flogging Chinese made stuff and tat that we don't really need...............................probably Primark and Pounland might have been able to take 50 units each and knocked them into one, solving the problem! Whats your point? Link to comment Share on other sites More sharing options...
Penistone999 Posted July 29, 2013 Share Posted July 29, 2013 What an absolute joke this city council is. They have spent years destroying the city center , now they have left it with a massive hole in the center of it . The only difference to the big hole in the center of Bradford is that the property hasnt been demolished yet in sheffield. Pathetic and disgraceful are the words that spring to mind where SCC is mentioned. Link to comment Share on other sites More sharing options...
Ousetunes Posted July 29, 2013 Share Posted July 29, 2013 I'm relieved. The development resembled the concrete jungle that was Broomhall Flats. Sevenstone is no more. Hurrah. Can we now expect SCC to turn the light out on their way out too? Link to comment Share on other sites More sharing options...
flantastico Posted July 29, 2013 Share Posted July 29, 2013 It will be interesting to see what this council announcement means in practice. The council is not in a position to drop Hammerson and give the job to somebody else for the simple reason that Hammerson now own a large chunk of the land and buildings in that area. Having given it all away once, the council is not in a position to give it away again. Perhaps Hammerson have agreed to let the council down gently and selll the land to somebody else. Perhaps not. Time will tell. Link to comment Share on other sites More sharing options...
AndrewC Posted July 29, 2013 Share Posted July 29, 2013 It will be interesting to see what this council announcement means in practice. The council is not in a position to drop Hammerson and give the job to somebody else for the simple reason that Hammerson now own a large chunk of the land and buildings in that area. Having given it all away once, the council is not in a position to give it away again. Perhaps Hammerson have agreed to let the council down gently and selll the land to somebody else. Perhaps not. Time will tell. Doesn't the article say they have given any of the land they owned back to SCC? For a price presumably but it sounds amicable. Link to comment Share on other sites More sharing options...
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