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- Thread starter Wannabe2
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There are rumours and I stress rumours from no source connected to this project that due to poor advanced sales on the housing part of the project the finance for construction of the arena is very stretched. Whether that stretch has now progressed to moth balling is in the hands of those in the know. I just hope it hasn't come to that and just today people were def on site progressing the roof. It would be one of the cruelest blows to hockey in this city.
I would say I was a little shocked at the ambitious asking prices for the housing development as the baseline has costed a lot of people out of getting down there who might have been interested. I don't think the project is dead by any means but the structure does need some looking into as at present it's to ambitious.
I would say I was a little shocked at the ambitious asking prices for the housing development as the baseline has costed a lot of people out of getting down there who might have been interested. I don't think the project is dead by any means but the structure does need some looking into as at present it's to ambitious.
I suppose that would make sense but wasn't it quoted as being more expensive to back out than to continue? And that was before any actual work had even started.
I agree on the asking prices for houses though. The prices are crazy for South Wales. Some are over 500k, for little land and a house that isn't all that big; there much more house for your money out there. There isn't that kind of market around here and the flats are already at a saturation. The price is based on the whole project which is barely off the ground, there is no selling point until the rink, shops and ski slope is built. The area is a mess at the moment.
I agree on the asking prices for houses though. The prices are crazy for South Wales. Some are over 500k, for little land and a house that isn't all that big; there much more house for your money out there. There isn't that kind of market around here and the flats are already at a saturation. The price is based on the whole project which is barely off the ground, there is no selling point until the rink, shops and ski slope is built. The area is a mess at the moment.
*If* Kier are downing tools I imagine the issue is more likely related to payment, Kier are a big company and don't appear to be on the verge of collapsing themselves, but like other contractors they're probably taking a hit from contracts signed a few years back that are now affected by rising material and labour costs.
It's more likely that with the arena being funded by the sales from the housing side, Greenbank maybe haven't made the sales targets for whatever reason so the budget is either reaching breaking point or simply isn't there for the arena until more of the units are sold.
It looks like Mooney has already alluded to that in their post. At the moment it's all still rumour. If it turns out that work is stopping for x amount of months it might be the case that the roof goes up and then work stops.
It's more likely that with the arena being funded by the sales from the housing side, Greenbank maybe haven't made the sales targets for whatever reason so the budget is either reaching breaking point or simply isn't there for the arena until more of the units are sold.
It looks like Mooney has already alluded to that in their post. At the moment it's all still rumour. If it turns out that work is stopping for x amount of months it might be the case that the roof goes up and then work stops.
That'll depend if the issue is with Kier or Greenbank though.
If it's Kier then depending on the contract there might/probably will be financial penalties in place if they were to run beyond the programme.
If it's Greenbank then Kier can/will probably work uptil the point they've been paid and then move the workforce including plant equipment off to another project. With what Mooney#16 was saying, if it's a case of not even housing units have been sold then Kier might be putting the cladding onto the building to give some sort of environmental protection and then heading off until more units have been sold and work can resume.
If it's Kier then depending on the contract there might/probably will be financial penalties in place if they were to run beyond the programme.
If it's Greenbank then Kier can/will probably work uptil the point they've been paid and then move the workforce including plant equipment off to another project. With what Mooney#16 was saying, if it's a case of not even housing units have been sold then Kier might be putting the cladding onto the building to give some sort of environmental protection and then heading off until more units have been sold and work can resume.
Just to get my disclaimer in now I have no inside knowledge here so shouldn't be classed as any sort of evidence. Just going of what seems logical along with the usual rink jungle drums. Out of respect I don't want to start chewing the fat on this to much but from what I have heard construction has been suspended for at least four months and that is about the top and bottom of it for the time being.
This is a 16 million pound build apparently so we are not talking pocket change. It has to be financed responsibly. I believe that is what this is so I do have confidence it will get seen through although whether by Greenbank may be the question mark. I know what I would do if I were the Devils owners right now but they are considerably more well off than me for a reason.
Begs the question. The BBT. What is its timeline for decommissioning.
This is a 16 million pound build apparently so we are not talking pocket change. It has to be financed responsibly. I believe that is what this is so I do have confidence it will get seen through although whether by Greenbank may be the question mark. I know what I would do if I were the Devils owners right now but they are considerably more well off than me for a reason.
Begs the question. The BBT. What is its timeline for decommissioning.
I heard this yesterday. So did a bit of research. Keir Construction have no problem financially indeed for a construction company they seem to be doing well.
As for Greenbank Partnerships, I have no idea. They seem to be a typical development company. They have set up a separate development company to develop the and deliver the scheme.
I doubt very much we have a huge amount to worry about, though given our history I can see why we would all start getting nervous about this.
I ended up asking Greenbank and this is what I got back, very prompt replay as well.
Thanks for your email.
Greenbank in partnership with the main contractor, Kier Construction Ltd, has agreed to a temporary reorganization of the build programme for Cardiff Pointe and IAW in order to manage available local resources more efficiently. Construction on the Ice Arena is continuing, with the cladding of the building scheduled for completion in January.
Hope this answers your question.
Regards
Chris Hartrey
Operations Director
There you have it.
As for Greenbank Partnerships, I have no idea. They seem to be a typical development company. They have set up a separate development company to develop the and deliver the scheme.
I doubt very much we have a huge amount to worry about, though given our history I can see why we would all start getting nervous about this.
I ended up asking Greenbank and this is what I got back, very prompt replay as well.
Thanks for your email.
Greenbank in partnership with the main contractor, Kier Construction Ltd, has agreed to a temporary reorganization of the build programme for Cardiff Pointe and IAW in order to manage available local resources more efficiently. Construction on the Ice Arena is continuing, with the cladding of the building scheduled for completion in January.
Hope this answers your question.
Regards
Chris Hartrey
Operations Director
There you have it.
I read it as, the housing is behind and the rink is ahead so we are putting more resources in to the housing to get it back on schedule so we can get some of the money from sales in to the coffers.
Once the arena is finished it will take longer to get a return the cash invested, whereas by completing some of the housing it will get a quicker return, makes sense to me
It just depends on how you read it
Once the arena is finished it will take longer to get a return the cash invested, whereas by completing some of the housing it will get a quicker return, makes sense to me
It just depends on how you read it
If this is the case I apologise to Chris and IAW for mis stating construction suspended. I was fed a clanger on that one. Seems the construction is being scaled back for a period for whatever reason. My only questions is will this delay the completion date. Will there be a period without ice in Cardiff.