teuchter
je suis teuchter
Chris Boyle if you are still reading this - is there any timescale for work to start on site yet?
Higgs Triangle Loughborough Junction redevelopment
- Thread starter andrewdroid
- Start date
Shippou-Sensei
4:1:2.5
Due to the star trek style teleportation system your including in the build?
Bit late posting this. Just struck me as an oddly thought out statement.
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bimble
floofy
Not exactly the right thread but.. here's a curious tale of from the history of that particular part of the world...
This old map shows something quite big called 'Loughborough Park Chapel', which (I'm very bad at reading maps) but seems to be around where Sureways Ministries is now?
Googling led straight to the grave of a man called the Reverend David Abraham Herschell, 'Founder of and for 31 years Minister of Loughborough Park Chapel, Brixton, and of Homes for Aged Christians. A Jew by birth, a Christian by Grace.' Some sort of early incarnation of jews for jesus out here in the wilds south of the river?
Jewish East End of London cemetery curiosities
This old map shows something quite big called 'Loughborough Park Chapel', which (I'm very bad at reading maps) but seems to be around where Sureways Ministries is now?
Googling led straight to the grave of a man called the Reverend David Abraham Herschell, 'Founder of and for 31 years Minister of Loughborough Park Chapel, Brixton, and of Homes for Aged Christians. A Jew by birth, a Christian by Grace.' Some sort of early incarnation of jews for jesus out here in the wilds south of the river?
Jewish East End of London cemetery curiosities
CH1
"Red Guard"(NLYL)
It's not that odd - on the continent the Mendelssohn family were Lutheran converts and Mahler became a Catholic to enable him to conduct the Vienna State Opera.
Benjamin Disraeli became a member of the Church of England at age 12, following his father's falling out with their synagogue.
No doubt the people attending Loughborough Park Chapel might have been migrants similarly seeking social advancement.
To come back to the point - yes it is the site of the Sureway Ministries. It would be interesting to know if that was a bomb damaged site that got reinvented at light industrial though.
bimble
floofy
Oh of course, plenty of that sort of thing, if you were born into a Jewish family converting has been quite a good idea for centuries.
Just thought it an interesting local tale.
Found this, has a nice picture of the chapel :
Loughborough Park Congregational Church
CH1
"Red Guard"(NLYL)
Yes - quite imposing isn't it? We could have set LJAG the task of fundraising and reinstating it. That would have kept them quiet for a few years!
teuchter
je suis teuchter
This is largely hearsay, so I can't guarantee the accuracy of it all, but:
Parritt Leng, the developers who applied for, and got, planning permission for this development seem to have folded, or at least, one of the two directors has resigned. This seems to be verified here:
Parritt Leng, Company and Director Search.
I see that a new company called "Parritt Boyle" seems to have appeared:
PARRITT BOYLE LIMITED. Free customer feedback, reviews and supplier feedback from Company Check on PARRITT BOYLE LIMITED. Registered as 09944139
(Chris Boyle was the project architect who commented on this thread)
I have been told that the site has been sold on to another developer. Can't say for sure this is true.
Also that in a few weeks the whole site is going to be bulldozed so that they can stop paying business rates on it.
This doesn't sound very positive news - does this mean the centre of LJ is going to be a derelict site for an undetermined number of months or years? It would be a sorry state of affairs when the buildings currently standing there are entirely usable. Sounds like a situation where a "meanwhile" use could actually be welcome, rather than a source of contention.
Parritt Leng, the developers who applied for, and got, planning permission for this development seem to have folded, or at least, one of the two directors has resigned. This seems to be verified here:
Parritt Leng, Company and Director Search.
I see that a new company called "Parritt Boyle" seems to have appeared:
PARRITT BOYLE LIMITED. Free customer feedback, reviews and supplier feedback from Company Check on PARRITT BOYLE LIMITED. Registered as 09944139
(Chris Boyle was the project architect who commented on this thread)
I have been told that the site has been sold on to another developer. Can't say for sure this is true.
Also that in a few weeks the whole site is going to be bulldozed so that they can stop paying business rates on it.
This doesn't sound very positive news - does this mean the centre of LJ is going to be a derelict site for an undetermined number of months or years? It would be a sorry state of affairs when the buildings currently standing there are entirely usable. Sounds like a situation where a "meanwhile" use could actually be welcome, rather than a source of contention.
CH1
"Red Guard"(NLYL)
What has happened to their other 2 nearby Walworth developments - on either side of the railway on the National Building Supplies site?
It looked in an advanced state last time I noticed.
Maybe scope for Jerry Knight's Lexadon to diversify into Southwark. He very adeptly in "rescued" The Viaduct on Coldharbour Lane/Valentia Place out of bankruptcy.
Of course Jerry might also step into the Higgs site. He is currently applying for planning permission on 423-9 Colhdour Lane (next to Clifton Mansions). Another developer applied on that site and was turned down. Then there is the Diamond Merchant site.
All in all Lexadon seem to be awash with money. So do not despair.
CH1
"Red Guard"(NLYL)
I was Googling around and found this news item about Parrit Leng's Camberwell Road development: A2Dominion New Homes acquires land for 82-home scheme in Camberwell | A2Dominion
I tried doing some searches on the Companies House website and Parrit Leng does not come up at all.
All I can find out is that Kuan Wai LENG resigned from a whole host of these interlocking Parrit Leng type companies on 27th November 2015.
No indication of solvency or insolvency.
What I did find interesting was 4 apparently locally connected names amongst these small companies connected with Mr Parrit and Mr Leng:
44 WELLFIT STREET LIMITED (09576440)
100 LOUGHBOROUGH SQUARE LIMITED (09316869)
8 LOUGHBOROUGH SQUARE LIMITED (09130127)
1 LOUGHBOROUGH SQUARE LIMITED (09110432)
Far be it from me to second guess the activities of an aspiring property magnate. Would you like to try?
goldengraham
Well-Known Member
The old power church building on Herne Hill Road has been squatted now
It look like Family Mosaic has taken on the Parritt Leng Higgs Industrial development on Herne Hill Road.
New site acquired in Lambeth to create a mixed-tenure development of 115 homes | Family Mosaic
Odd that towards the end of the piece they talk about development of adjacent land to include a Waitrose and a cinema.
New site acquired in Lambeth to create a mixed-tenure development of 115 homes | Family Mosaic
Odd that towards the end of the piece they talk about development of adjacent land to include a Waitrose and a cinema.
CH1
"Red Guard"(NLYL)
I think this is an indication of the slow collapse of the housing boom.
Rather like the old Barrington Lodge site on the Loughborough Estate (Metropolitan in that case) this has now become a a game where housing associations pick up the less desirable scraps and use their government subsidies to speculate in the housing market.
Note that Higgs II is to be 30% social, 24% shared ownership and 46% (almost half) full market price for sale.
CH1
"Red Guard"(NLYL)
It does say "The site located at Herne Hill Road was acquired from Parritt Leng in August 2015."
Twattor
Well-Known Member
I'd imagine "PL Architects" aquired the site through an option and set up "PL Developer" as a special purpose vehicle. As an an architect I doubt they'd have access to sufficient credit to manage the cashflow that development entails and needed a partner for the affordable element, so would have looked for a joint venture partner in the HA world. The way these things work is that one partner then buys the land from the other thus providing money to build out the site. The developer ends up with the private units and the HA with the affordable. With social housing the housing association may have marginally higher build costs but puts less money up at the early stages so has lower front end risk.
I'd imagine PL overextended themselves and bit off more than they could chew. Labour and material prices have been leaping up recently which destroys any appraisal based on figures from a couple of years back. As a developer without a construction arm PL would have been very vulnerable to market fluctuations, and any delays in planning would have exacerbated this.
As CH1 has pointed out, most HAs have a massive advantage in that they have a huge asset base which they can use for leverage to obtain finace for their developments, which puts them in a very strong position when competing against private developers, particularly so when you consider that they can manage the affordable elements themselves.
I'd imagine PL overextended themselves and bit off more than they could chew. Labour and material prices have been leaping up recently which destroys any appraisal based on figures from a couple of years back. As a developer without a construction arm PL would have been very vulnerable to market fluctuations, and any delays in planning would have exacerbated this.
As CH1 has pointed out, most HAs have a massive advantage in that they have a huge asset base which they can use for leverage to obtain finace for their developments, which puts them in a very strong position when competing against private developers, particularly so when you consider that they can manage the affordable elements themselves.
teuchter
je suis teuchter
The question is what happens next - do Mosaic go ahead and build the development with some version of PL (or someone esle altogether) acting as architects, or do they mothball it and leave us with a derelict site for however many years?
Folk have been saying they plan to bulldoze it so they don't have to pay business rates. I don't know if that's true. It would be a massive waste for this to happen, and the site unused for an extended time, when until a couple of years ago several businesses were operating quite happily from the various buildings on the site.
Do HAs like to present themselves as better landlords than other developers? It would be awfully nice of them not to leave the centre of LJ a wasteland for the forseeable future.
Folk have been saying they plan to bulldoze it so they don't have to pay business rates. I don't know if that's true. It would be a massive waste for this to happen, and the site unused for an extended time, when until a couple of years ago several businesses were operating quite happily from the various buildings on the site.
Do HAs like to present themselves as better landlords than other developers? It would be awfully nice of them not to leave the centre of LJ a wasteland for the forseeable future.
Twattor
Well-Known Member
They won't be able to mothball - if they have received government funding to build it they'll be under a lot of political pressure to get a move on and produce the units. These things do take time though; depending on the structure of the agreement and how PL ended , PL's assets may be in the hands of liquidators/administrators. If there is an institutional investor behind them then they may have rights to step in to fulfil PL's contractual obligations. All this will have to be sorted by solicitors before anything happens.
Irrespective of this, it is likely that none of the partners will be a firm of building contractors, so the works will have to be tendered. If FM have government funding this this may have to be a Europe-wide open tender in line with EU legislation, which could go on for months.
The site is unlikely to be unused for years, but it may be 6 months - too short a time to tenant the units but plenty of time to be exposed to business rates, security costs and squatters. In this situation I'd expect them to demolish and give the incoming contractor a clear run at site the moment contracts are executed.
Harbourite
Eggnog
quite a bit of police around there at about 630 this evening - guess the travellers were "moved on"
editor
hiraethified
footballerslegs
Well-Known Member
Saw the convoy of van-pulled caravans driving down coldharbour lane around 5.30. I don't think I'd have noticed were it not for my 2 year old picking up on it. I put two and two together on where they were from based on teucher's previous post. And my son learnt a new word: 'cawavan'.
CH1
"Red Guard"(NLYL)
If Family Housing are serious about this site they'd be better negotiating a deal to relocate the Sureway Ministry and re-submitting an improved scheme. (IMHO)
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