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Homes & Pub to be knocked down on Blackfriars Road

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Current: 12 of 18
Friday 28 March 2014 4.46pm
just a comment as someone whose Estate has been through the wringer several times since 2000 for demolition or not...

Barrister Peter John uses words very carefully. The new SE1 story says:

"It's certainly not something which Southwark Council is bringing forward, so you can certainly provide reassurance to your residents on that point."

I put "Southwark Council" in bold.

Three tumblers and a shuffle.

See in this story that Peter John become the "Labour Leader of Southwark council", which he is.

The point is that Southwark Council providing a reassurance does not do anything to rule out Southwark Labour or it's Leader or a Southwark / Developer Partnership bringing forward something. Or Mayor of London. Any body that is not "Southwark Council".

This is why, sadly, an assurance from one politician to another is just worthless.

Peter is smart enough to leave plenty of outs.
Friday 28 March 2014 6.40pm
JazzyQ wrote:
Quadrant House is eight storeys high. Looks like we are coming back into fashion.

Back of a fag packet calculations here, where One Blackfriars is developed in-line with JazzyQ's recent posts.

I’m ignoring the stamp duty on the affordable housing in both cases, although this favours the midrise solution…

Starting with the development as it is now. 274 private flats, rough average cost (think I've gone low on this) of £2.5 million. Using the 2+ million stamp duty rate of 5%.

£29 million payment in lieu of on-site affordable housing, which using council estimates from the Neo Bankside in lieu payment equates to around 130 affordable homes

274 x £2.5 million x 0.5% = £34 million stamp duty

Assuming average council tax bill of £2,000 (assumes occupancy so 150% rate not levied) £550,000 in council tax levied per year

Now as per JazzyQ's mid-rise ‘solution’ of, say, 10 floors (which is two more than the now achingly fashionable Quadrant House), with 35% affordable housing on site.

Let's go with 100 flats built. 65 private. 35 affordable homes built. Stick with the average £2.5 million per private flat, although this patently wouldn't be the case as the value of flats increases with height and there will be affordable housing on site. On the latter, don't shoot the messenger... Also assumes stamp duty for affordable based on 50% ownership, and with flats at 500K each. Probably more like 25% ownership, but as you’ll seem we’re into relative chump-change with that side of it.

65 x £2.5 million x 0.5% = £8 million stamp duty

65 x £2000 council tax equals £130,000 in council tax levied per year


Again, there’s a lot of guesstimating in there, but I think I’ve favoured the mid-rise in my guesses (hugely so on the private flat valuation). On these figures you’re looking at £26 million less stamp duty, and £420K year-on-year reduction in council tax. We can ignore the 100 less affordable homes since they'll be in areas where the residents eat mechanically separated meat so they don't really count. Finally, no patronising public amenity in the form of a viewing platform on the 32nd floor.

Be interested to see where I've gone wrong here. Not so intested in living near a Poundbury-on Thames
Friday 28 March 2014 6.58pm
Probably a stupid question, but who collects the rent of these affordable homes?
Friday 28 March 2014 7.19pm
The "achingly fashionable Quadrant House", mid rise Quadrant House indeed, is my HOME. Simply that.
I do not have cash register eyeballs rolling round calculating its worth. "Financial guesstimating" is juat that. North Southwark residents need homes to live in, and those of us who have lived here for many years never dreamed that the money mad would ever come here.You are welcome to come and live in your glittering towers provided that you do not expect us to move away from our homes.
Friday 28 March 2014 7.47pm
JazzyQ wrote:
The "achingly fashionable Quadrant House", mid rise Quadrant House indeed, is my HOME. Simply that.
I do not have cash register eyeballs rolling round calculating its worth. "Financial guesstimating" is juat that. North Southwark residents need homes to live in, and those of us who have lived here for many years never dreamed that the money mad would ever come here.You are welcome to come and live in your glittering towers provided that you do not expect us to move away from our homes.

I didn't ask you to value your home. I wasn't even talking about your home. I didn't ask you either to take the argument away from your home to other prospective developments and start pontificating how they should be built (and in doing so start slating my HOME). But you did it anyway. I asked you too look at some indicative numbers arising from your suggestion for future build in respect of One Blackfriars, and (implicitly) explain why what appear to be damning (for everyone other than yourself it would seem) numbers aren't actually so bad.

You can hide behind your lack of 'cash register eyes' if you like It just looks to me as though your incapable of arguing when your (utterly philanthropic) world-view is challenged on any level. I trust you'll excuse what you see as Southwark council's lack of financial astuteness in future since the numbers obviously don't need to stack up as far as you're concerned - just lay the flatulent rhetoric on thick and you're away.

BTW... I've lived in this area for ten years. So you're a bit late with your welcome, which is OK by me seeing as it's about as genuine as an estimate of Max Clifford's penis-size.
Friday 28 March 2014 7.49pm
JazzyQ wrote:
The "achingly fashionable Quadrant House", mid rise Quadrant House indeed, is my HOME. Simply that.
I do not have cash register eyeballs rolling round calculating its worth. "Financial guesstimating" is juat that. North Southwark residents need homes to live in, and those of us who have lived here for many years never dreamed that the money mad would ever come here.You are welcome to come and live in your glittering towers provided that you do not expect us to move away from our homes.

Does seem an odd thing to say, especially from someone that's come to live in the now achingly fashionable North Southwark.
Friday 28 March 2014 8.04pm
Not everything that can be counted counts, and not everything that counts can be counted.


Albert Einstein
Sunday 30 March 2014 8.56am
turtmcfly,
Apart from unnecessary and nasty abuse of JazzyQ, for which I think you should apologise, what is your real agenda?

Lived here for ten years? Then you are new to the area aren't you?
Sunday 30 March 2014 11.04am
More thoughts on the regeneration/development and enthusiasm for building glittering towers all over London in the Observer this morning.

http://www.theguardian.com/cities/2014/mar/29/campaigners-fight-save-london-skyline
Sunday 30 March 2014 12.30pm
boroughonian wrote:
Does seem an odd thing to say, especially from someone that's come to live in the now achingly fashionable North Southwark.

Given that I'm obviously playing the role of The Man in this particular sub-thread I presume that's aimed at me, even though you haven't used my original quote and you've used an 'odd' amount of JazzyQ's post if it is me you're effectively quoting.

a) the fashionable comment was echoing JazzyQ's previous post where he described Quadrant House as exactly that (I assume tongue in cheek, as was my comment). Why is my use of the phrase any odder than JazzyQ's?
b) North Southwark wasn't achingly fashionable when I moved here. As I said in my post, that was only ten years ago, so I'm still wearing my (N)SE1 nappy.
Current: 12 of 18

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