Thanet Star

Is Gloag scaring away Manston investors?

Thanet's Liberal Democrats say that investor interest in Maston is sufficient to give the airport Airport another go but keeping it closed is doing a lot of harm.

The Liberal Democrat Thanet Team are calling for the owner of Manston Airport to reopen the airport and create the confidence necessary for investors to come in.

The demand from a team that includes significant expertise in this area comes amid indications that potential investors are now shying away from Manson because it has been closed.

Investors see the airport is no longer operational and worry that it's future is (as a result) uncertain which is the point at which previous enthusiasm for Manston proposals starts to evaporate.

A business plan by the local chamber of commerce shows that Manston airport financially viable and that opportunities do exist. The Thanet and East Kent Chamber of Commerce's recently produced business plan is available for serious investors to scrutinise in a confidential way but for all the good that is doing the closure is too off putting.

Reacting to the news that Manston Airport might be turned into a Garden City, Russ Timpson said Dressing up a massive urbanisation programme with green credentials will not fool people. This is quite contrary to what people want and have so clearly expressed over the past months. We support the Compulsory Purchase Order route, not necessarily as a permanent solution, but to put the airport back on track for private business to take it seriously.

With all political parties working together everything is in place to bring in investors. Everything that is except an open airport.

Saving Manston Airport belongs to the People, not to a single political party, said George Cunningham. The involvement of Labour's Iris Johnston as well as our own international investor contacts mean that new opportunities are being brought to the table in a genuine all-party push to solve the issue.

George Cunningham is the Liberal Democrat Prospective Parliamentary Candidate for North Thanet. Russ Timpson is the Liberal Democrat Prospective Parliamentary Candidate for South Thanet. Quotes come from a statement on Manston Airport by the Liberal Democrat PPCs for North and South Thanet.

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Public Comments

This Normal comment was left by Gollum [score: 0]:

Puleeease!!! Can we stop pretending that anybody has a clue how to turn Manston around and make a profit. If these investors really believed they could make money from the airport, why didn't they buy it when it was up for sale? For that matter, why don't they buy it now? It's easy. If you really have a credible business plan, you take it to the bank, the bank looks it over, lends you the money and you're off.
The truth is that these people don't have any money and they don't have a credible business plan which would allow them to borrow the money. So, they are trying to get somebody else to reopen the airport and pay for the massive losses.
I can see no good reason why should Ann Gloag, or anybody else, pay to continue to run an airport which has never made a profit. If a private individual, or group of individuals really believes that the airport can be profitable they are free to use their own money to buy it and run it. The fact that nobody is prepared to do this tells you everything you need to know.
P.S. To the individual who asked why lottery money should not be spent on this the answer is simple. The airport is not a charity. It's a commercial venture; a business. Either it makes money and stays open or it doesn't and it closes.
05/06/2014 19:05:19

This Normal comment was left by Tango and Cash [score: 0]:

How long was Manston on the market for before Ms Gloag bought it, and during that great length of time, where were these mythical investers and the Kent Chamber of commerce with it's business master plan? Why hasn't one of the business leviathions from the chamber come forward and purchased Manston, so that they could make the easy profits you suggest are so readily available, where so many others have failed?

Is this viable business plan available somewhere? It's very easy to claim to have a viable plan, that's secret, but that doesn't mean that in the real world it's either. If you are refering to the plan that suggested recycling aircraft at Manston would be it's salvation, then sadly that would really show that the idea's box is somewhat bare.

Perhaps a quick survey through your good auspices via Thanetstar, asking whether people would be in favour of a large scale aircraft dismantlers and breakers at Manston might demonstrate why that particular idea, and and business plan relying on it would find itself on a particularly weak footing.
05/06/2014 22:12:38

This Insightful Golden comment was left by sirwolf [score: 4]:

@ Gollum.. the reason investers didn't buy it when it was up for sale is because ms Gloag was not accepting offers, even above her asking price because (she claims) they were not buyers she trusted.. she brought it for 1 and wants 8 million for it..
06/06/2014 16:23:11

This Normal comment was left by Tango and Cash [score: 0]:

@ sirwolf Why didn't these investers buy it when it was for sale, and Ms Gloag bought it for 1?

Surely they would have been astute enough to buy it then, if they exist, if not, then I would certainly doubt their ability to buy it for 8million + and make a profit.
06/06/2014 16:40:41

This Normal comment was left by Gollum [score: 0]:

So, let's get this straight Sirwolf. You say that AG wants 8mill for the airport. Presumably, this means that RiverOak weren't prepared to pay this amount. Presumably this also means that the mystery investors being touted by the East Kent Chamber of Commerce aren't prepared to pay this amount either. If the airport is such a good bet and has such great potential how is it that none of your investors will fork out such a pitiful amount? You can't have it both ways. Either it has great potential, in which case it is worth a lot of money, and certainly the 8 mill, or it's a basket case and is barely worth the 1 she paid for it. So, you tell us, which is it to be?
06/06/2014 19:08:21

This Informative Normal comment was left by purple om [score: 3]:

It stands her 30 million so she will want more than that
06/06/2014 23:13:47

This Normal comment was left by Richard [score: 0]:

I think you will find that she took liability for the existing debt so in effect paid around 23 million and one pounds for it. To get a CPO TDC would have to pay the commercial valuation of the site plus AG's legal costs. Then if they lease it to an operator they were negotiating with prior to the CPO they would invalidate the CPO.

Iris Johnson may well be best to go with the Lord Wolfson garden city flow. But she is keeping balls in the air. As far as I can tell she is consulting on the reasons Thanet/Manston may for decades have been unattractive to some investors and potential employers.

It may be that, as part of raising a more investment attractive flag for the area, TDC will finally introduce a policy (with blogging guideline for cllrs wont to deny the existence of statutory duties to report) for compliance with Terrorism Law.

Matt you were kind enough and honest enough to admit that you did not previously know that UDA men were arrested at their Margate base of operations by Met Police in 1992. Hit men and drugs importers. What I do not know, but can reasonably suspect, is whether these arrests triggered inquiry into theft of chemicals used in back street drugs factories. EG Cyclohexanone from Sericol. It was definitely an inquiry of this nature that discovered in 1993 the massive contamination of Thanet aquifer by Sericol.

It was not until 1998, as far as I know, that inquiry was made into the suspected use of forged engineering qualifications to obtain site engineer work at Sericol. The Cyril Hoser effect reverberating on to continue to harm Thanet.

Some of the information I obtained and reported to Police was from companies who are competitors of factories in Thanet. EG Backup generator manufacturers. They knew the state of quality control and they made forecasts of loss of market share to Petbow. A year on year loss of market share was publicly acknowledged by the director IIRC at the time TDC were involved in directing 7 million quid of grant aid at them to keep jobs here for the Cummins buy out.

But the rub is if they help grant aid a company whilst failing to comply with statutory duties and common law duties to report then potential investors get a pretty fair gist of the way the council is operating.

The same applies to keeping the Sericol contamination secret at the same time as failing to comply with statutory and common law duties to report.

If a policy is introduced then it should trigger a review of TDC process since the 2000 Terrorism Act was introduced. Then finally the Hoser/Maison effect might be cleansed and Thanet lower the investment warning flag and raise the "We are better now" flag having lanced the boil of bent tories and earner burners and saboteurs and paramilitaries and bottleless ex trades union cllrs and strange private military cadet groups known as Hitler Youth ...... and you think it is Ann Gloag who frightens off quality investors ? Wake up.

I hope Iris has the courage and the support to bring in the policy and put the review process boots on.
07/06/2014 07:42:01
 


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