- Feb 12, 2013
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I beleive CBRE are involved, at least in identifying a partner for the hotel schemeI was writing here a couple of days ago that the club is likely to work with an experienced residential developer to deliver Phase 3, which comprises the hotel, the external works south of the stadium and primarily 500+ units of housing. This sounds very much like a THFC/Stanhope joint venture company, which would be consistent with such an approach.
It wouldn't be to sell the stadium. You wouldn't form a JV to dispose of a Freehold. You'd just sell it. Assuming the finance for the NDP is secured, in whole or in part, on the site itself, it wouldn't make sense to sell the stadium Freehold until the debt has been reduced using the sales receipts from Phase 3.
I've got no inside info, I'm just trying to add up 2+2 here, based on how developments are usually procured. Everything about the descriptions above sounds like a JV to carry out Phase 3. THFC would contribute the land, Stanhope would probably cash-flow the build and there would be a profit-sharing formula.