Pop Brixton (formerly Grow Brixton) Pope's Road development
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hiraethified
Always vibrant, yet never paying back money to the council...Despite the transition from oasis to ?????, it is reassuring that the vibrancy remains a constant.
sparkybird
ask the bird...
I'd hardly say it was a 'leading cultural space' - although maybe if your culture involved eating and getting pissed....
Rushy
basically a scrotum
Sounds like a pretty good summary of British culture to me.
isvicthere?
a.k.a. floppybollocks
"Vibrant hub"? The very least I expect of my "hubs" is that they be "vibrant"!
editor
hiraethified
The farce continues
www.brixtonbuzz.com
Pop Brixton backers collapse into administration
The Collective, the property empire that has been bankrolling loss making Pop Brixton for several years, has collapsed into administration. Bloomberg broke the news in September that The Collective…
www.brixtonbuzz.com
equationgirl
Respect my existence or expect my resistance
That's very interesting, although that's a staggeringly naive decision of his parents, raising money against their house. I wonder if the whole company was just debt piled upon debt. What's happening with his housing blocks for professionals, I wonder...The farce continues
Pop Brixton backers collapse into administration
The Collective, the property empire that has been bankrolling loss making Pop Brixton for several years, has collapsed into administration. Bloomberg broke the news in September that The Collective…
I also read 'Makeshift' as 'makeshit'
ricbake
working out how
I think it moved on quite considerably from Mum and Dad's backing...That's very interesting, although that's a staggeringly naive decision of his parents, raising money against their house. I wonder if the whole company was just debt piled upon debt. What's happening with his housing blocks for professionals, I wonder...
I also read 'Makeshift' as 'makeshit'
The main loan to the company was a £140M debt facility provided in February 2020 — just a month before the UK and U.S. went into lockdown — by Deutsche Bank and GCP Asset-Backed Income Fund, a specialist real estate lender listed on the stock exchange. The loan partly refinanced an earlier debt facility secured against the Old Oak Common scheme, and it was used by the company’s management to buy majority control of the building from its Singaporean equity backers for £125M in 2018.
But it was also a "discretionary" facility that the company could use to buy more sites and expand. Of the loan, £87M was provided by Deutsche Bank and £53M by GCP.
This 30 Year Old Created A $850 Million Co-Living Empire To Take On WeWork
equationgirl
Respect my existence or expect my resistance
That is a large loan indeed. Cheers for the info.
RubyToogood
RubyTwobikes
I would like the idea of the cohousing thing if they didn't sound like money grabbing wankers.
Gramsci
Well-Known Member
Having read the articles posted it looks like the Collective is victim of the pandemic.
Co working plus Co living came foul of restrictions put in place during lock downs. Also I would have thought with WFH the attraction of living/ working in Central London has dimmed.
I was at a financial company in the City today. The only person present was the security guard. No one able to take the letter. Rang one of them and they are all working from home. Business still working but not at the City office. They come in every now and then.
So a business model based around central London being a hive of activity has fallen foul of the pandemic.
Whilst the annoying cutting edge entrepreneur stuff is annoying looks to me that this is case of yet another company being damaged by pandemic and its possible long term effects.
Co living and Co working isn't going to come back soon. The Co working spaces I've seen in Central London are basically empty. It's been hard for them to keep going and satisfy covid safety guidelines.
What it does suggest is that there us now a surfeit of office space.
Whilst this business model was seen as cutting edge thus attracting investors it now looks like same investors have seen market has changed and the bankrolling of the Collective has dried up.
Co working plus Co living came foul of restrictions put in place during lock downs. Also I would have thought with WFH the attraction of living/ working in Central London has dimmed.
I was at a financial company in the City today. The only person present was the security guard. No one able to take the letter. Rang one of them and they are all working from home. Business still working but not at the City office. They come in every now and then.
So a business model based around central London being a hive of activity has fallen foul of the pandemic.
Whilst the annoying cutting edge entrepreneur stuff is annoying looks to me that this is case of yet another company being damaged by pandemic and its possible long term effects.
Co living and Co working isn't going to come back soon. The Co working spaces I've seen in Central London are basically empty. It's been hard for them to keep going and satisfy covid safety guidelines.
What it does suggest is that there us now a surfeit of office space.
Whilst this business model was seen as cutting edge thus attracting investors it now looks like same investors have seen market has changed and the bankrolling of the Collective has dried up.
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i didnt think they were based in central london
twistedAM
Left Of The Dial
It's the same for co-working spaces everywhere.
RubyToogood
RubyTwobikes
Not sure. I've been back at Impact Brixton lately (which is not at Pop any more) and that's doing fine.
Gramsci
Well-Known Member
The had place in Canary wharf and Old Oak. Depends what you mean by central London.
I actually thought what I wrote was being generous to them. Saying that pandemic contributed to their demise.
The alternative explanation is that they are up themselves "entrepreneurs" helped to get started by bank of mum and dad. The interview about how they are providing affordable housing and are risk taking cutting edge entrepreneurs is bollocks. They weren't as good at business as they made out.
What is your view?
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Gramsci
Well-Known Member
That is interesting as I've found the City still fairly empty. Perhaps Co working places nearer to where people live are still doing OK.
There are gradually more people in the City. I was in Pret by the Gherkin today at lunch time. It almost felt like it used to be pre pandemic. It now feels odd. After all these months of the City just being populated by security guards, post room staff, IT staff and couriers.
I think it depends what days you go in - eg Monday is really quiet
Gramsci
Well-Known Member
Yes it is. I think the five day week at office has gone. Though I've noticed some receptionists have come back in last week or so.
I thought Old Oak would be West London and Canary Wharf East London. For me Central London is more central...
Gramsci
Well-Known Member
So as you've taken issue with my post can you answer my question what is your view on this? I've given you the alternative view.
i was taking issue with your geography rather than your post.
Don't understand what you mean when you say "alternative view"? you basically say it was a victim of pandemic yes? they had a business model & it didn't work out due to a changing social/macroeconomic environment?.
Nothing too contentious there in my view. I commend you for your analysis
editor
hiraethified
Pop Brixton. LOL. Pop Brixton management shown the red card
editor
hiraethified
The continuing farce at Pop Brixton All change again at the permanently loss-making Pop Brixton
cuppa tee
Well-Known Member
pop collapses in shambolic fashion, Taylor McWilliams empties his piggy bank and Hond rides in like cavalry to save the day.....
editor
hiraethified
editor
hiraethified
The loss making site that won't die:
Loss-Making Pop Brixton set for yet another lease extension beyond November 2022 as Lambeth Council plans long term for the Brixton Rec Quarter
A little more detail has emerged from Lambeth Council about the proposed Brixton Rec Quarter.
www.brixtonbuzz.com
editor
hiraethified
I think this could be the most expensive mid week comedy night in Brixton. £16.76!
popbrixton.org
Comedy night at Pop Brixton
popbrixton.org
editor
hiraethified
Here Dad! Come along and enjoy your overpriced greasy burger and beer in a plastic glass on a shit wooden bench (if there's any seating available).
