CRT buys canalside property in Wolverhampton

[springy]

In saturdays Express & Star - Crane Foundry Site

 

 

http://www.expressandstar.com/news/2016/01/31/wolverhampton-canalside-foundry-site-set-for-revival/

 

springy

[jonesthenuke]

My initial thought is that I would rather CRT spent my licence fee on maintaining the canal infrastructure (like some dredging) rather than investing in property, though perhaps this may be a revenue stream in the future which could support the system.

Is the CRT supposed to act like a commercial property developer?

[jenlyn]

John Dodwell has always stated that the property arm of the trust would be developed, and hoped eventually to see the income from it cover any loss of government funding.

I have put this up on here previously, there is nothing dodgy. Though it is noted that this "separated" side of the trust seems to be top flippin secret.

[Allan(nb Albert)]

My initial thought is that I would rather CRT spent my licence fee on maintaining the canal infrastructure (like some dredging) rather than investing in property, though perhaps this may be a revenue stream in the future which could support the system.

Is the CRT supposed to act like a commercial property developer?

The problem with this type of investment is that it does not provide immediate or regular income for CaRT. Furthermore, it can require significant further investment to develop the site.

 

I hope it is not a repeat of Gloucester Quays where CaRT's predecessor, BW, wrote off a £33 million investment.

Edited February 1, 2016 by Allan(nb Albert)

[BMC problems]

By 'wrote-off' you mean somebody made £33million out of BW. It would be an jnteresting audit trail.

[Peter X]

If I remember discussions of the CRT property arm correctly from other topics, it is indeed allowed to buy/sell/develop property, subject to some constraints. In principle it seems good to me that CRT own sites like this alongside canals so that they can exert influence on what is put there and its impact on boaters and other users. In practice it's good as long as they get the decisions right, and of course making money to fund CRT not losing it should be high on the list of priorities!

 

The money to finance the build would come from the private developers mentioned in the article, but the architects are going to have to think carefully about sound insulation if they're going to build homes, shops and offices next to a railway viaduct. It can be done, and perhaps the target market will be canal enthusiasts on one side of the building and trainspotters on the other.

[archie57]

Perhaps it's time for CRT to buy waterside property to prevent it being developed and save canal users from endless residential corridors and the (sometimes) accompanied antisocial behaviour!

[Heartland]

The Crane Foundry site includes parts of other other former businesses. It would be useful if an archeological study was made first. a proper one that is not like the secret report made for Albion wharf

 

There is also the issue of polluted land here too.

 

Ray Shill