Lang Rabbie wrote:The Trustees of the Borough Market are a charity, and own the freehold of their site as part of their permanent endowment. However, it looks as though they barely break even on running the market, and rely on their income from investment properties to fund their capital improvements. The charity appears to have practically no free reserves not tied up either in the main market buildings or their investment properties of neighbouring buildings.
So if they are going to fund the various projects needed over the next few years when trading is bound to be hit by the Thameslink project, they will presumably need to decide on a mixture of:
(a) increasing income from pitch fees in the market,
(b) increasing rents on the investment properties,
(c) borrowing against the investment property assets,
(d) considering whether to sell any of the investment properties.
or some combination of the above.
In the current state of the property market, (d) looks like a non-starter, and I assume they will have some difficulty getting a good deal on (c) except for properties occupied by "blue-chip" tenants (e.g. are they Paul Smith's landlord?).
Davies wrote:I didn't imply I knew 'all'. In my experience, there are always several sides to various 'events' that happen in BM, subject to whoever one happens to be speaking to at the time, and which trader is involved - for example the situation leading to the recent departure of the Chief Executive. BM is an odd mix of [sometimes conflicting] interests and agendas that give rise to rumours and intrigue on a regular basis and 'the truth' may be in there somewhere!janefs wrote:Davies version is not the full story!
Davies's version is not the full story because Davies doesn't know the full story of the rent increases. As you have implied that you do, please tell all!
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