tag:blogger.com,1999:blog-7790444218199055346.post8030629111068423350..comments2023-09-05T15:40:23.582+01:00Comments on Croydon Against The Arena: Arrowcroft To Make an OfferKen Frosthttp://www.blogger.com/profile/13568488818950912374noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-7790444218199055346.post-71740935937498672142007-11-07T21:52:00.000+00:002007-11-07T21:52:00.000+00:00Thats always been the problem for Arrowcroft. They...Thats always been the problem for Arrowcroft. They have never been able to put the money where there mouth is. <BR/><BR/>IF they had, the Arena would now be very close to reality.<BR/><BR/>Large parcels of land have been available on the open market and Arrowcroft could have bought them.<BR/><BR/>IF they had, Stanhope would have been in a difficult position. They would not have owned the whole site being promoted for development (they have owned for a long time the site south of Lansdowne Road). The CPO would then have been easier to win.<BR/><BR/>The problem for Arrowcroft is that no CPO has ever been used to buy land off of one developer and sell it to another.<BR/><BR/>In any case Stanhope would always sell for the right price. They have Schroders backing them with a property Unit Trust. If the right offer came in they would be obliged to sell.<BR/><BR/>The problem for Arrowcroft is the scheme is barely affordable as it is. They have 'loans' of £25Million allocated here and there just to pay for the cladding of the Arena. <BR/><BR/>All very odd. As they say, only in Croydon!Anonymousnoreply@blogger.com