Forum Topic

Landlord's greed triumphs over Riding for Disabled stables in Teddington

Please read below article, it's heartbreaking...https://www.standard.co.uk/news/london/park-lane-stables-riding-school-crowdfunded-ps1million-teddington-b937634.html

Loraine Pemberton ● 1976d32 Comments

Yes, you do wonder how these people sleep at night, after raising the £1M that he originally demanded and the stables having raised £1.3M he ups the ante, disgraceful. The irony is that the site probably isn't worth his original demand anyway. What a real charmer he must be.

Vanessa Smith ● 1976d

Vanessa, Greed is a problem and always has been, this is a very unfortunate example of it. Not good !

Chris Vessey ● 1976d

No doubt the buyer thinks that planning permission will be forthcoming for residential development.  I doubt the Council will approve such a scheme so presumably they are pinning their hopes on an appeal.

Simon Derbyshire ● 1976d

That's very sad. I was amazed coming back from the vet yesterday in a cab to see all the developments between Gunnersbury Park and Acton/North Chiswick  - block after block after block.  Sure there is what looks like a new mini-Sainsburys but apart from that couldn't see much else.  Where are the doctors and dentists?  The parking?  The play spaces (a few tiny bits of grass and very small playground was all I saw). Looked pretty much like Colditz apart from the barbed wire. Felt a sense of ovewhelming relief to get back, within a couple of minutes of these huge blocks, to the low rise Victorian houses of North Chiswick.  But already, from Southfield Playing Fields, to the South East you see the blocks of Chiswick Park, and now to the North, sky scrapers being built.  Am starting to feel pretty hemmed in.

Claire Moran ● 1976d

  Discraceful I would hope someone with money will buy some land as a gift of generosity and the money raised can be used to build new facilities You never know when it comes to calls of help given those who benefitfrom the school

Julian Pavey ● 1976d

If I have understood the situation correctly  the charityis prevented from paying more than the stables have been valued at (Charity Commission reugulations) even though they have raised considerably more.The valuation was £840,000. The other bid is £1,350,000 which means the difference is over half a million pounds.As a semi retired estate agent I have seen many such situations. Although sellers will say they would never dream of gazumping the truth of the matter is that almost everyone has their price.If you can hand on heart say you would turn down an extra half million then you are either fooling yourself, very wealthy, or a truly exceptional person.Of course this is a most regrettable situation to which their there is no easy answer although maybe the original valuation was way to low and another could be commissioned to reflect the higher value. I guess someone has thought of that and for some reason it wouldn't be possible.

Adrian Irving ● 1976d

Adrian has summarised the position perfectlyI do wonder whether the valuation was done correctly.  I appreciate that valuation is as much an art as a science but the valuer appears to have been more than 50% out compared to the open market value.All those people who are complaining about the "greed" of the landlord are no doubt the same people who, when selling their home, would accept the highest offer

Justin Stephenson ● 1975d

Justin, the valuer  must have been at a loss to find any comparable properties that had sold to help as a guide and maybe the best route to sale would have been by auction.Without the full facts, who knows.

Adrian Irving ● 1975d

'If you can hand on heart say you would turn down an extra half million then you are either fooling yourself, very wealthy, or a truly exceptional person.'I think that's a really scathing view of a lot of people. The landlord- whoever this charming individual is - is obviously not down to his last few hundred thousand, and many people, if they are in a financial position to help those who really need it, will do so. Even in this day and age there are philanthropists who contribute to many charities and fundraising efforts, not least the great British public, many of whom have been hit very hard over this last year or so. So - I will put my hand on my heart and say I couldn't and wouldn't behave in such a heartless and callous manner, if you cannot give a helping hand to someone who needs it - as we all may at sometime - then perhaps you ought to take a good hard look in a mirror. But please don't tar us all with the same brush.

Vanessa Smith ● 1975d

Vanessa Well said ! Sometimes taking the philanthropic path is the right thing to do, and this is one of those cases.

Loraine Pemberton ● 1975d

This sounds to me like a developer has made the landlord an offer over and above £1,5,000,000 and in order for it to go through legally made an offer to the charity knowing full well they could not pay over the regulated amount.  Developers are going round the whole of London buy land and property which is then left to deteriorate so badly councils are often brow beaten by residents to "clear up the eyesore" Then the developers step in and build flats at a premium and the council get around it by talking about affordable homes which none of them ever are.  I know the good this charity did with severely disabled children and adults.  Contact with horses is incredibly therapeutic and can mean a child with no external interaction is brought out of themselves.  If I had the land I would give it to them because the work they do gives more to the community than many other activities.  The replies in the Standard however are literally appalling and without any compassion or empathy.  It is still as my faher described it "the group magazine for psychopaths"

Caroline Carney ● 1975d

I am simply reporting what real world experience has told me. That's it, I didn't say I like it or not. Having acted for charities, limited companies, government departments, local authorities etc who obliged to sell to the highest bidder in a position to proceed. They don't have the luxury of choice.The point is, if this charity was the vendor they would have no choice but to take the highest bid that is able to proceed.Fortunately it is not down to an agent to make moral judgments as it is a well known 'fact' we have a hearts of stone.

Adrian Irving ● 1975d

Well said Vanessa and Caroline.

Basil Finnis ● 1975d

Adrian, no-one as far as I can see has accused you of having a 'heart of stone', but I think sort of implying we would all sell out to the highest bidder were we in the landlord's shoes just isn't true. And I think we all get the constraints on charities that you have pointed out, but the landlord did have a choice, money versus facilities for children with disabilities and special needs, mammon against morality.

Vanessa Smith ● 1975d

Vanessa, I never said or knowing implied either you or any other reader would take the higher offer. Full stop.For the very last time I will repeat that my vast experience tells me what I have said is true.It's called human nature. I have known people drop a buyer for just a couple of thousand. Nice eh?

Adrian Irving ● 1975d

The person whose I bought my flat from accepted my offer over one that was £4000 higher - mind you the £4000 was only around 1% of the asking price - but I'm sure that doesn't happen most of the time.

Andrew Jones ● 1975d

Well it’s nice to know there was one guy who didn’t take any offer.The owner of Rams Westgate Service Station Brentford wouldn’t except Barrett’s offer to buy him out, that’s after “every man has his price “ was uttered  by some employees of the company, although Barretts never said that themselves at the time of development So the developer had to build around Rams, nice to know some people still have principles nowadays.

Bernard Allen ● 1975d

"truth of the matter is that almost everyone has their price." What I said was almost everyone not every man. Small but important point.

Adrian Irving ● 1975d

Very sad about this. I hacked out from Park Lane many times. It was always a little hairy as one had to mount kerbside, traffic and all. It was lovely yard that had housed horses that worked municipal dust carts and it had many Victorian features. Yet another London riding school gone for greed.

Charlotte Kasner ● 1975d

One has to have the means to buy a homier the frost place - chance would be a fine thing. It's greed that has placed purchasing our of my reach too.

Charlotte Kasner ● 1975d

Sealed envelopes is another way to sell.  Then you can choose the offer.Doesn't the estate agent have to tell the seller about all offers and takes a percentage of the selling price?How does Scotland's law on gazumping work - or doesn't it?

Philippa Bond ● 1974d

Gazumping is one thing another is when a 'buyer' places a higher bid than one that has been agreed and going ahead with the sole purpose of knocking out the existing deal only to drop the price just prior to exchange.An experienced agent can usually smell a rat and advise the owner accordingly.

Adrian Irving ● 1974d

http://squaremilenews.blogspot.com/2021/02/drunken-farmer-posed-as-cop-on.html

Vanessa Smith ● 1970d

Vanessa Are you saying this is the Landlord/Owner of the stables ?

Loraine Pemberton ● 1970d

Apparently so! See the comment at the bottom of the article.

Vanessa Smith ● 1970d

In response to Caroline and others, we retired to the Country but still take an interest in Chiswick affairs, at a distance. But I feel moved by this, as we all saw the national crowd funding efforts so brilliantly rewarded when sufficient was raised to safeguard this site. My betting is that some smart a*se developer also saw the national campaign and has come along with an offer to purchase which includes an "overage" clause. this means that not only does the landowner get a "good" price when he sells, but is also offered a proportion of the INCREASED value of the land once Planning Permission has been granted. That's a Win/Win for the landowner AND the developer.But I do wonder who the landowner is, as to have asked a CHARITY to raise £1 million and then renege on the sale makes me wonder just what type of people we have in this country, without a conscience. I do hope the landowner (so far un named) can live with their conscience. In my opinion, an oxygen thief if they stoop so low.

Kevin Regan ● 1968d

Look at this link posted by Vanessa http://squaremilenews.blogspot.com/2021/02/drunken-farmer-posed-as-cop-on.html

Loraine Pemberton ● 1968d

I wonder if the charity gets to keep the million+ they have raised?I don't know but it would make sense that Charity Commission would have a ruling that the money raised can only be used for the purpose for which it was intended, ie the purchase of the freehold. If this is the case then some bending of the rules needs to be applied.

Adrian Irving ● 1968d

From what I understand the Charity Commission will only allow a registered charity to pay the price for the land that it has been offically valued at and that - in this case, is way below what the landlord reckons -  £1.35M. So the stables have no alternative in this instance. I would hope that the charity can use the money raised for when they find a forever home, I can't think many contributors would begrudge it.

Vanessa Smith ● 1968d

Your understanding is correct Vannessa.However going forward it my not be a question of what contributors want but what the charity are permitted to spend the funds raised on.I think it is a very important question which needs answering.

Adrian Irving ● 1968d

Horse and Hounds have a thread running too.I checked the link posted by Vanessa at the outset and noteQUOTE: Dailly was separately prosecuted for drink-driving at three times the limit and last year (THAT'S 2019) was fined £500 and DISQUALIFIED for two years. So, immediately after he gets his licence back, he's putting a blue light to impersonate police? Not just once, but THREE times, and he's over the limit? Veterinary Farming from Esher Surrey, was born in June 1962, 59 years ago. This company officer is, or was, associated with at least 3 company roles. Their most recent appointment, in our records, was to EQUINE LIVESTOCK LIMITED on 2019-05-30. Slough Farm, 81 Telegraph Lane, Claygate, Esher, Surrey KT10 0DTand note:JMD Collective Property Developers Ltd (Dissolved). Company number:10896459. Registered address: Slough Farm Lodge 81 Telegraph Lane, Claygate, Esher, KT10 0DT

Kevin Regan ● 1968d

"forward it my not be"aforward it MAY not be.I swear there is a gremlin in my Kindle Fire that changes words just for the fun of it.Woe betide it if I catch the little beggar.

Adrian Irving ● 1968d