Golfrate Properties sign on The Fridge

Minnie_the_Minx · Apr 30, 2008

Seems they're "property and estate management".

Will they tear the place down and build flats or just sell it off do you think?

I take it it's these people

http://www.propertyweek.com/story.asp?storyCode=3063578

I've no idea about these things, but maybe Lang or someone will have an idea what they plan to do

Not a Vet · Apr 30, 2008

I've noticed this company's board around Brixton a lot lately, they also appear to have aquired the lease for the massive building above Iceland.

Minnie_the_Minx · Apr 30, 2008

Not a Vet said:
I've noticed this company's board around Brixton a lot lately, they also appear to have aquired the lease for the massive building above Iceland.

oh no,

Brixton is being swallowed up by these people. Maybe they're going to knock it ALL down

bluestreak · Apr 30, 2008

I wonder if they're anything to do with Future Brixton? *smells a rat*

Kanda · Apr 30, 2008

I only noticed while stuck in traffic the other day how shit the Fridge looks these days. Needs tarting up for sure.

Monkeygrinder's Organ · Apr 30, 2008

Yeah it looks like a total wreck these days. It's a pretty horrible club inside as well ime, although whatever ends up there might well be equally bad.

Bob · Apr 30, 2008

The Fridge could make a fair number of flats. On the back of an envelope I reckon you could probably get 20 flats worth £250,000 in there. That means it's worth at least £5m.

So for the Fridge to be viable it would need to clear £250-500k profit a year, so £5k - 10k a week.

I reckon that probably makes it vulnerable to conversion...

I hope not because the Fridge is a pretty good venue - where I first saw the Topcats.

tarannau · Apr 30, 2008

Had some great nights in there mind. Given its history it'd be a real shame if it was lost as a club.

Things are a changing though. It looks like SW9, reborn briefly as Brixton Heights, has closed for good too. I had a lot of time for Gordon Mac (Kiss FM's ex head honcho) and even for Andrew at the Fridge - those two helped a lot to maintain Brixton's reputation as a clubbing centre. I've still fond memories of Soul II Soul nights in both.

Minnie_the_Minx · Apr 30, 2008

Bob said:
I hope not because the Fridge is a pretty good venue - where I first saw the Topcats.

How long ago was that?

tarannau · Apr 30, 2008

Not that long ago if it's the gig I'm thinking about.

Bob · Apr 30, 2008

Minnie_the_Minx said:
How long ago was that?

Probably about three or four years ago?

It's probably only about 9 years since I first went to a gig there - which is pretty poor since I've lived in central(ish) London my whole life. :oops:

Minnie_the_Minx · Apr 30, 2008

Bob said:
Probably about three or four years ago?

It's probably only about 9 years since I first went to a gig there - which is pretty poor since I've lived in central(ish) London my whole life.

oh right, I thought you'd been in Brixton a lot longer.

editor · Apr 30, 2008

Minnie_the_Minx said:
How long ago was that?

I saw them there in 2003. Storming night!

http://www.urban75.org/brixton/features/brixtown.html

Minnie_the_Minx · Apr 30, 2008

editor said:
I saw them there in 2003. Storming night!

http://www.urban75.org/brixton/features/brixtown.html

Looks great fun. Can't remember when they first played in the Windy but I'm sure Twisted will be along to remind me

Bob · Apr 30, 2008

Minnie_the_Minx said:
oh right, I thought you'd been in Brixton a lot longer.

I've lived in Lambeth on and off since 1995 (with a 2.5 year gap living in Africa) but only moved to Brixton in late 2004 - when I realised I spent half my spare time here.

Gixxer1000 · Apr 30, 2008

Bob said:
The Fridge could make a fair number of flats. On the back of an envelope I reckon you could probably get 20 flats worth £250,000 in there. That means it's worth at least £5m.

So for the Fridge to be viable it would need to clear £250-500k profit a year, so £5k - 10k a week.

I reckon that probably makes it vulnerable to conversion...

I hope not because the Fridge is a pretty good venue - where I first saw the Topcats.

Hectually developers usually operate on the thirds rule. a third to buy the plot, a third to build, a third profit.

How viable is the Fridge without a license?

ricbake · Apr 30, 2008

They own the building in Brixton where the Job Centre and PlanB.

dogmatique · May 1, 2008

Seemingly every friggin music venue in the capital is either being demolished (Astoria) or turning into flats (Intrepid Fox) etc... etc...

Soon we'll be like Singapore or some such. No culture, just lots of buildings.

Pff.

Brixton Hatter · May 1, 2008

Monkeygrinder's Organ said:
Yeah it looks like a total wreck these days. It's a pretty horrible club inside as well ime...

Didnt they do up the inside fairly recently? In the past 2 years or so? Haven't been in since though,.,,

Topester · May 1, 2008

dogmatique said:
Seemingly every friggin music venue in the capital is either being demolished (Astoria) or turning into flats (Intrepid Fox) etc... etc...

Soon we'll be like Singapore or some such. No culture, just lots of buildings.

Pff.

only the other day me and the wife were talking about how a revamped Fridge would make a great replacement for the Astoria. Its potentially a great venue... the Soul II Soul nights there were indeed excellent

twistedAM · May 1, 2008

Topester said:
only the other day me and the wife were talking about how a revamped Fridge would make a great replacement for the Astoria. Its potentially a great venue... the Soul II Soul nights there were indeed excellent

Much of the Astiria's appeal was that it right bang centre in the West End..as opposed to being at the end of a tubeline that shuts down at 10pm Mon-Thurs.

DeadManWalking · May 2, 2008

editor said:
I saw them there in 2003. Storming night!

I was there too, wasn't Laurel Aitken playing with them? Who has since died.

Fuzzy · May 2, 2008

Bob said:
The Fridge could make a fair number of flats. On the back of an envelope I reckon you could probably get 20 flats worth £250,000 in there. That means it's worth at least £5m.

So for the Fridge to be viable it would need to clear £250-500k profit a year, so £5k - 10k a week.

I reckon that probably makes it vulnerable to conversion...

I hope not because the Fridge is a pretty good venue - where I first saw the Topcats.

if you got 20 flats on there you might make 5m selling them but you've missed out what you would have to buy the original building for first and then the cost of actually building the flats. i doubt on that basis its worth anywhere near 5m.

Mikey77 · May 3, 2008

I'm not sure Golfrate do as much developing as buying properties and getting money through long leases or lets, but then I can't be bothered to check their website. They have signs all over London.

mysterybadger · May 6, 2008

<i>every friggin music venue in the capital is either being demolished...Intrepid Fox</i>

Did they ever have music at the Fox? Every time I went there it had all the crap bits of going to a gig without any actual bands

lang rabbie · May 6, 2008

I had suspected that Golfrate were acting for an investor, so I did a bit of quick digging.

Bob said:
The Fridge could make a fair number of flats. On the back of an envelope I reckon you could probably get 20 flats worth £250,000 in there. That means it's worth at least £5m.

So for the Fridge to be viable it would need to clear £250-500k profit a year, so £5k - 10k a week. I reckon that probably makes it vulnerable to conversion...

Thankfully, all the Future Brixton stuff continues to require an entertainment use as part of any redevelopment.

I assume that this likely planning restriction was known before the property changed hands on 27 September last year - for half of what Bob was thinking the site is worth, but still a tidy sum:

HM Land Register Online said:
REGISTER EXTRACT
Title Number : SGL329202
Address of Property : The Fridge Nightclub, Town Hall Parade, Brixton Hill,
London (SW2 1RJ)
Price Stated : £2,600,000
Registered Owner(s) : FRIDGE LIMITED (incorporated in Anguilla) care of
Golfrate Property Management Limited, The Tower, 125
High Street Colliers Wood, London SW19 2JG.
Lender(s) : None

There is an intriguing covenant still on the deeds from 1911 (when the Palladium picture house was first built :confused:

):

"AND the Purchasers do hereby for themselves and their assigns to the
intent that this covenant shall so far as lawfully may be bind the said
premises hereby assured and every part thereof into whose hands so ever
the same may come but not so as to be personally liable for any breach
thereof after the Purchaser shall have parted with the said premises or
with the part or parts thereof in or upon or in respect to which a breach
or breaches of this covenant shall occur covenant with the Vendor and his
heirs and also as a separate covenant with the first Mortgagees and their
heirs owners respectively or undivied moieties of an estate situate at
Brixton aforesaid known as the Hayter Estate that the said pemises hereby
assured shall not nor shall any part or parts thereof at any time
hereafter be used for any purpose that may on account of noise smell smoke
or otherwise be or become noisome noxious or offensive to the adjoining
properties or the neighbourhood."

A pint will be adequate contribution for the Land Registry £3 fee, Bob

Minnie_the_Minx · May 6, 2008

I saw builders in there this morning

peterkro · May 7, 2008

As someone with a reasonable knowledge of the building I'm surprised it hasn't fallen down (in fact part of the ceiling did fortunately after the punters had left). Conversion to flats would entail a virtual rebuild and even to continue as a club needs substantial structural work. Whoever signs off the safety certificates must have a severe eyesight problem (or a healthy offshore bank account).

ovaltina · May 7, 2008

Has the club lost its licence? I thought it was just the bar *confused*

OpalFruit · May 9, 2008

Golffrate have been buying up anything they can in Brixton - ever since Future Brixton was announced.
There will be little property left to achieve anything constructive or community orientated.

Shows Golfrate believe that the regeneration is going to be effective, though.

Golfrate Properties sign on The Fridge

someinenhhanding menbag and me ah bollox

are we nearly there yet?

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cant wheelie a shaftie :(

working out how

merde alors

Home is south London mate

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