I was sad to learn that part of the world-famous Albion Car Park could be sold off for residential development.
This piece in Glasgow Live is not clear to me if this is the land that is owned by the Engine Room Subsidiary.
In what is probably an entirely unconnected development I learned today that the chaps at Close Brothers have told the Sevco High Command that they will NOT be extending their loan period.
Regular readers will know that the financial institution has part of the Albion Car Park as security for the Phantom Overdraft.
Suffice to say that your Humble Correspondent is currently endeavouring to ascertain if this proposed development has anything to do with the cash strapped eight-year-old club.
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Up to the other day Maxwell’s hands were clean with regards to the fraudulent UEFA licence.
Everyone knows that Rangers lied about their tax status, the evidence is clearcut.
He’s now put himself in the look the other way camp, nothing to see here, move on.
And still those responsible are involved in Scottish football, free to do the same thing again as evidenced by the totally nonsensical numbers used by the SFA to waive through last season’s UEFA licence.
How can that be? A crime has been committed, Celtic were denied an opportunity to make millions from CL participation.
Why has the SFA not called in Police Scotland fraud squad to hold those responsible to account.
On another note does anyone have an update on the Fit and Proper status of Alistair Johnston?
I’ve written several letters to the SFA asking that question. Apparently they must have been lost in the post or only those who need to know are informed.
Ffs Dave King’s not fit decision was made in days, what hurdles has that fine upstanding Alistair been unable to climb months since the process began?
Yet another question which Maxwell and co continue to dodge for reasons known only to themselves!
Still not reimbursed their non season tickets fans for home game against Celtic…not sure how many tickets they received for the cancelled away game to St Mirren.
St Mirren have told sevco fans to contact their own club for a refund as they never received any monies for the sold tickets.
The skint club obviously still holding onto both games ticket monies.
The game is rigged. Stop spending your money on it. Celtic are involved. Just look at what they did to the Res 12 guys and all their years of hard work. Stalled them for years and them dropped them like a brick. Celtic are part of the corruption. Lawwell takes c £1million a year earnings from scottish football. STOP giving them YOUR money
The corruption will quickly stop then. Keep giving them your money the corruption will carry on. I stopped in 2012. Wrote to Lawwell twice. Once registered post then followed up with same letter handed in at front door of Celtic Park
Sad to see people scrambling for Hampden tickets when all this corruption is OBVIOUS. It’s your shout guys ?
Close Brother must be aware and have consented to the redevelopment or otherwise Rangers* would have broken the security charge, it states in section 6.4 the borrower will not:
(c) make directly or indirectly any application for planning permission in relation to the Property or any part of it;
without obtaining Consent.
Then again they do have a history, all be it a very short history, of playing fast and loose with contract law.
A quick look at the companies house site and the Close Brothers charge document seems to show that “The borrower will not…make directly or indirectly any application for planning permission in relation to the property or any part of it”. Does this mean they are in breach of the loan conditions or have they given the property to Close Brothers who have then authorised the planning application?
Apart from losing some car parking space the blue side fans seem quite happy with the Albion car park development plans.
The general consensus is that selling the land will bring a considerable amount of money into the club, as if indeed they need it!
However not one of them mentions that the Albion Car Park is part of the security for the Close Bros loan, and if the current loan arrangement is not being extended, then perhaps it’s the case that any monies raised through the sale will go directly to Close Bros to pay off that loan?
You have to hand it to the Ibrox board, they really know how to work the support.
Everyone/anyone, aside from the obvious, Mygers, gie’s your money, no extension to the season ticket cut off, and a £25 Ibrox shop voucher to compensate for the home games in the ticket which won’t be played.
Lets not forget the famous Corporate Governance at Ibrox which has led them to 10 seasons without a trophy with no end in sight to Celtic’s dominance.
King’s gone but the court cases are still a regular fixture in the Ibrox calendar.
The builders and Rangers share the same auditors so there’s a connection there. However they’re a small player in housing so there’ll be no big payday for selling the land.
Also, there’s no way Close would release the security on the car park without their whole loan being paid back I’d imagine.
To be fair, if it is Rangers selling it off, then it shows a sense of responsibility for the state they’re in, and a sea change in King’s attitude to flogging more and more worthless shares.
The fact is, the fans will now accept any course of action if it stops 10iar.
Nothing is ever straight forward when it comes to Rangers 2012 .
It is a club built and run on sand and lies .
I doubt if they even know what the truth is these days
We have a compliant media who write what they are told to write .
Journalists who fear the mob .
Who on earth wants to get the wrath of the peepul bestowed on them .
They have families to consider.
We know they are not averse to intimidating people .
Stories of buying Hagi are a smokescreen to hide the real story .
Who is the developers taking over part of the Albion car park .
Is this to pay or loans unpaid to Close Brothers etc .
As ever fake news will appear as a cover story to keep the fans happy .
Thought the albion carpark was a condition for the club deck?
Have you seen this ‘car park’? It’s a weed ridden, dog shit covered waste ground.
The whole area is a dystopian film set.
How the fuck can it even have a name? ‘Albion’ wtf? The adjacent roads, everything is a junkie shit hole.
They clearly don’t spend a penny maintaining, repairing and keeping clean that waste ground. Park wouldn’t put any cars on it that’s for sure.
Surely you are not suggesting that sevco will be defaulting on the close brothers loan who will then call in the security on the Albion car park and then sell it off for flats while sevco spin to the media that they sold it?
A club with such a dignified 8 year history as sevco wouldn’t try something like that would they…
It’ll be handy for anyone who buys one of the new apartments; they’ll have a Tesco right on their door step very soon….
Even better if it’s a Morrisons – they would go ballistic at the colour of their livery!!
Hang on a moment. The tv screens, the speaker system, the catering equipment, everything that’s not part of the fabric of the building is already in hock to Close Bros as is the Albion car park.
No way anyone will want to buy a house in the immediate vicinity of Ibrox, ditto commercial enterprises, so the sales value will be severely reduced as a result, a bit like Alfredo’s worth as his form has collapsed, not forgetting his temparament issues.
Could the sale of the car park provide the funds for a downpayment on Hagi?
Though many loyal fans have renewed their season tickets, a big chunk of that will be in instalments.
Many more however will be waiting for concrete news on when, if, the new season kicks off.
The same goes for Celtic fans who will be delighted that the ST cut off has been extended to the end of June, with the fans having an option to take up a pro rata refund for the home league games not completed.
As far as I know there has been no similar extension at Ibrox and a £25 voucher usable in the club shop will suffice for their unplayed home games.
If the boot was on the other foot the Scottish media would be having great fun pointing out the different courses being followed by the clubs.
Of course given that Celtic are leading the way not a syllable will appear in the press nor a word on TV, because that’s just the way things are as they play to the only demographic keeping them in employment.
On the voucher part to think they laugh at Cashley for treating his customers the same way . Only a voucher in return of goods no money back and here the sevco club are doing it and it’s fine . Worst still though is at least Cashley gives you the full money of your purchase back to spend in his shop sevco keep the biggest chunk of what you gave them as in you get about an eighth back of your cash.
https://rangerstaxcase.wordpress.com/2020/05/21/the-contracts-that-sold-rangers-to-craig-whyte/
Just as the housing bubble us starting to implode sevco gets into property development… Couldn’t make it up
I think they are reopening the old railway station ( broomloan rd/prw – exit facing the “wee gers” social club ) they been working on this for about a year now,, yards from Ibrox park. so if it does open on the doorstep then they wouldn’t need a carpark, HH #staysafe
I have made a career than spans 35 years in residential property working for the Largest estate agent in the U.K. ( at that time ) .To then building my own small but successful estate agency business.
During that time I have also dabbled in several “ Buy ,develope and flip “ projects.
I have been involved in the collating of due diligence,pricing and marketing of dozens of new build projects.
I’m seeing comments if I may paraphrase of .
Nobody will want to live there .These properties are unsellable .
This could not be further from the truth.
There are private home owners who move to areas because that’s what they can afford .
There are buy to let investors that realise their is a profit to be made from private tenants.
There are housing associations who need accommodations for tenants.
None of us are privy to building costs as opposed to sales prices or rental income information.
But if you want positive proof that a housing development can work in a deprived area ,close to a football station with perceived low desire ability.
Then look no further than the recent developments around Celtic park .
Springfield Road is a perfect example .
Build it and they shall come .
If the price is right.
Does anyone actually even know if this development is likely to happen?
Does anyone know if it did .Would The Rangers just be selling the land at the current going rate?
If so .
The land value will not be significantly high enough than to be anything other than desperation money to help survive in the short term.
But we are all just speculating without any real information for provenance.
I think they are reopening the old railway station ( broomloan rd/prw – exit facing the “wee gers” social club ) they been working on this for about a year now,, yards from Ibrox park. so if it does open on the doorstep then they wouldn’t need a carpark, HH #staysafe
That was an idea that was closed down a couple of years back. Mostly because of cost, but there were other legitimate sounding reasons. It’s a vast cost to ‘open’ a rail station.
There are workers down there every day and they use a part of the carpark for plant ! Just saying !!
Isn’t that for the testing of the new Subway trains ? I’m sure it was mentioned somewhere about the odd size tracks next to the original train tracks
When will they tell the gullible?
Reading between the lines here, but my train of thought is that sevco have asked for an extension on their loan period because they are Skinto McGinto. Close Bros, realising that repayment is not forthcoming, have applied through the courts to seize the security (Albion car park), and having already been granted by the courts, are seeking to recover the debt via sale of the land, in this case, to the developers.
I think a search on the Land Registry will reveal who has current ownership of that plot of land.
TRFC owns it, charge by Close Bros.
That would mean Close Brothers getting the money rather than Rangers. Is that wishful thinking?
It is likely that the land is owned by Sevco ,but there is a security held over it by Close brothers.
A security that can be realised if there is a default by the borrower.
Does anyone even know if Close brothers have such a claim over the land ,and if so .
Has there been a default ?
Until that is known .
This is all just wild speculation.
surely castore will save them!
DEID CLUB Phil
Of course the Albion Carpark has to remain open to accommodate the upper club deck
A burden was created in the title by GCC Building Standards.
Correct.
The upper club deck to remain closed if the Albion Car Park cannot, for any reason, service the patrons with parking.
Was it not more to do with fire escapes opening on to it?
Part of the planning condition I believe Tommy.
That would have to be overturned. Given GCC and their plans to limit parking around CP and the Govan Cesspit, I very much doubt it would be possible.
Gives the Klan another opportunity to vent their spleen on the SNP GCC and their quintessentially anti Britishness I suppose
The Daily Record never published this article not a mention that alone tells the story