Jump to content
Strawberry Orange Banana Lime Leaf Slate Sky Blueberry Grape Watermelon Chocolate Marble
Strawberry Orange Banana Lime Leaf Slate Sky Blueberry Grape Watermelon Chocolate Marble
Clodi

Canal for sale

Featured Posts

19 minutes ago, Clodi said:

Well I never realised.

 

If it goes for the 'guide-price' it is only giving a return of 4.7% Income fixed for 700 years.

I would think that investors would be aware of better opportunities

Edited by Alan de Enfield

Share this post


Link to post
Share on other sites

I never knew it was privately owned either - are there any other examples of canals/waterways that are leased by CRT ?

Share this post


Link to post
Share on other sites

4.75% pa return on capital, no maintenance cost, own your own freakin' 11 miles of canal for the cost of a luxury widebeam. What's the catch?

Share this post


Link to post
Share on other sites
3 minutes ago, BilgePump said:

..............own your own freakin' 11 miles of canal

But you cannot do anything with it.

 

4.75% ROCE is pretty poor on an investment of that size - no chance it will increase either - what will be £200,000 be worth in 700 years (Nowt !!!) so you will need to right off the Capital.

It may be better than you get from your personal bank account but 7-10% is available for large investments.

Edited by Alan de Enfield

Share this post


Link to post
Share on other sites
19 minutes ago, Alan de Enfield said:

But you cannot do anything with it.

 

4.75% ROCE is pretty poor on an investment of that size - no chance it will increase either - what will be £200,000 be worth in 700 years (Nowt !!!) so you will need to right off the Capital.

It may be better than you get from your personal bank account but 7-10% is available for large investments.

Write the cpaital off. You play big money Alan. This would be about the sheer joy of going "Ha, this is MY bit of water"

Share this post


Link to post
Share on other sites

It’s up for auction so who knows what could happen. 

A guitar sold for 17(?) million the other week. 

For many, £200,000 is spare change these days. 

 

Share this post


Link to post
Share on other sites

Billionaires could buy cheap islands, mountains and canals by the shedload but they don't. Superyachts and jets look proper bling and are tax deductible company transport, right?

Share this post


Link to post
Share on other sites

naughty On the Beeb site Britain's oldest canal in Lincolnshire is up for sale

 

Quote

The Fossdyke Navigation in Lincoln is believed to have been built by the Romans in AD120.

It links the city centre with the River Trent and runs 11 miles (18 km) from Brayford Pool to Torksey.

The waterway is on a 721-year lease to the Canal and River Trust which pays £9,500 a year in rent and carries out all the maintenance and repairs.

Property developer Mike Testler, who has owned the canal for 15 years, said he would be sad to see it go.

Mr Testler said he was disposing of the canal to reinvest some of the money in "animal welfare". He said the sale had generated a great deal of interest.

"There must be many people who want to say, 'Do you know I own the oldest canal in Britain?'," he said.

"You'd be amazed how many people are interested in that type of situation and we've had a very, very, very strong level of bidding for this one."

The auction takes place on 11 July.

 

Maybe 'Naughty Cal' should put in a bid then she be able to set her own speed limit.

 

  • Haha 1

Share this post


Link to post
Share on other sites

So if you bought it and put your own unlicensed boat on it and never moved, could CaRT S8 it?

Share this post


Link to post
Share on other sites

The sale only relates to a long headlease.  Come July 2740 and you'll have nothing, which may not be a great concern, just the same.

Lincoln City Council is the superior landlord.

 

 

Share this post


Link to post
Share on other sites
6 minutes ago, WotEver said:

So if you bought it and put your own unlicensed boat on it and never moved, could CaRT S8 it?

What about the oft cited 1metre offside? That's about 11,000m2, not too shabby a strip, but as everyone has pointed out, there's bu99er all you can do with it. CaRT call the shots for many of your generations. Still, with a lottery win, owning a canal must be a bucketlister.

Share this post


Link to post
Share on other sites
1 hour ago, Alan de Enfield said:

But you cannot do anything with it.

 

4.75% ROCE is pretty poor on an investment of that size - no chance it will increase either - what will be £200,000 be worth in 700 years (Nowt !!!) so you will need to right off the Capital.

It may be better than you get from your personal bank account but 7-10% is available for large investments.

Quite agree. £9,500 pa income means it should have a guide price of £95,000 as a long term lease commercial property. 

 

 

 

 

Share this post


Link to post
Share on other sites
3 hours ago, Goliath said:

Surely CRT will buy it?

 

Spend £200K of their capital in order to save £9.5K expenditure per annum?  I'd be very surprised.

 

1 hour ago, WotEver said:

So if you bought it and put your own unlicensed boat on it and never moved, could CaRT S8 it?

Of course they could, being the landlord doesn't excuse you from not paying your dues.

 

The current owner Mike Testler has owned it for 15 years and says he'll be sorry to see it go, so having bought it t'would appear you can't keep it where it is, but will have to move it! 

It would be nice if they move it by boat.

 

Just a thought but how many members have we on this forum?

 

 

Edited by zenataomm

Share this post


Link to post
Share on other sites
3 hours ago, Alan de Enfield said:

But you cannot do anything with it.

 

4.75% ROCE is pretty poor on an investment of that size - no chance it will increase either - what will be £200,000 be worth in 700 years (Nowt !!!) so you will need to right off the Capital.

It may be better than you get from your personal bank account but 7-10% is available for large investments.

But the value could and almost certainly will go down. If interest rates rise (they cant get much lower) the capital value will have to decrease to maintain the same rate of return. Of course, the income will be reliable.

Share this post


Link to post
Share on other sites
1 hour ago, Mac of Cygnet said:

 

Count me in.

Me as well.

...and Mrs Bob.

.......and the duck.

Share this post


Link to post
Share on other sites
10 hours ago, BilgePump said:

Billionaires could buy cheap islands, mountains and canals by the shedload but they don't. Superyachts and jets look proper bling and are tax deductible company transport, right?

I rather suspect they (collectively) do all of the above but we only notice the latter. 

Share this post


Link to post
Share on other sites

"Evidence for the Romans building the waterway includes a statue of the god Mars which was recovered from the water near Torksey in 1774 and is now on display in the British Museum."

 

Perhaps it's just me, but if the Romans were going to chuck a statue of a god into the canal, wouldn't it have been Neptune? 

The fact that it was chucked in by somebody at some date before 1774 is somewhat inconclusive, methinks.

Share this post


Link to post
Share on other sites
17 hours ago, Alan de Enfield said:

But you cannot do anything with it.

 

4.75% ROCE is pretty poor on an investment of that size - no chance it will increase either - what will be £200,000 be worth in 700 years (Nowt !!!) so you will need to right off the Capital.

It may be better than you get from your personal bank account but 7-10% is available for large investments.

Where is this 7 - 10% available, please.

Share this post


Link to post
Share on other sites
5 minutes ago, Harpur Hill said:

Where is this 7 - 10% available, please.

Peer-to-peer lending can be up to 1% (gross) per month.

Just one example - Try here https://www.thehousecrowd.com/ppc/peer-to-peer-lending?gclid=Cj0KCQjw9pDpBRCkARIsAOzRziu5C442E3amyYNFTfMToFKBlf7huFfP8xXg_B4rM31c9Fq7P1O3N5gaApaiEALw_wcB#utm_source=google&utm_medium=cpc&utm_campaign=investing&utm_term=Peer-To_Peer_Lending_&utm_content=Earn_7

 

 

How it works :

https://www.moneyadviceservice.org.uk/en/articles/peer-to-peer-lending--what-you-need-to-know

 

 

Alternatively 'normal' current bank accounts in Asia are (a minimum) of 7% and for larger investments 10% is readily available. As these are mostly US$ accounts we have probably gained as much on the steady decline of the GBP against the $ as on the Interest.

Edited by Alan de Enfield

Share this post


Link to post
Share on other sites
10 minutes ago, Alan de Enfield said:

Peer-to-peer lending can be up to 1% (gross) per month.

Just one example - Try here https://www.thehousecrowd.com/ppc/peer-to-peer-lending?gclid=Cj0KCQjw9pDpBRCkARIsAOzRziu5C442E3amyYNFTfMToFKBlf7huFfP8xXg_B4rM31c9Fq7P1O3N5gaApaiEALw_wcB#utm_source=google&utm_medium=cpc&utm_campaign=investing&utm_term=Peer-To_Peer_Lending_&utm_content=Earn_7

 

 

 

Current bank accounts in Asia are (a minimum) of 7% and for larger investments 10% is readily available.

Thank you for that information.

Share this post


Link to post
Share on other sites
1 hour ago, Alan de Enfield said:

>>we have probably gained as much on the steady decline of the GBP against the $ as on the Interest.<<

 

How very patriotic of you, as a Brexiteer!

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Recently Browsing   0 members

    No registered users viewing this page.

×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.