Tuesday 22 April 2008

The Real Scandal of The Arena

This comment has just been posted on Croydon Is Crap.

I would be very grateful if the person who posted it could get in touch with me.


"My company were the originators of the Stanhope Schroder scheme having secured options on the site in 1976 in open competition. The site was originally due to be developed as a Millennium Site with completion in 2000 - what a joke.

After years of frustration the Council became seduced by an individual promoting an Arena as a so called expert. This same individual has tried unsuccessfully in other UK towns and been thrown out of most of them. To this day, he has no experience of building or running an Arena.

We fully investigated the Arena concept and had it potentially valued by one of the world's top consultants. In a nutshell, the Arena would cost £80m to build (ex land cost) and be worth £5m. on completion. There is no possibility of a privately funded Arena being built in a town centre anywhere in the UK - all others in Europe have had public funding and/or free land. American Arenas are supported by Ice Hockey which is their national sport.

It is arguable that through their intransigence Croydon Council have cost borough residents (of whom I am one) £millions in lost revenue from business rates on this site.

After spending £2m. and seven years on this site, we sold to Stanhope/Schroder as we were 'losing the will to live'

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