Minerva and the Allders Pension Fund

I draw your attention to today's article in the Times, about the Allders collapse and the dealings of Minerva.

Here is an extract of the article:

"The Minerva Two, however, and other shareholders in their property company, have so far resisted suggestions that they might do likewise. Yet the pensioners action group claims that Minerva has done remarkably well from its involvement with Allders. It was 1997 when Minerva first approached Allders about buying its huge Croydon store. The value it put on it then was £50 million but it was so keen to get the site, which was pivotal to a massive Croydon redevelopment it planned, that it also promised to move Allders to a new store while the development was built and then to return it to pride of place in the wonderful new shopping centre.

Eventually Minerva bought 60 per cent of Allders and installed Terry Green to run it with the disastrous results that will be discussed in Brighton on Monday. But before the collapse, Minerva bought the Croydon store for £49 million. That means it can proceed with its development without the costs and delays of providing a new venue for Allders. It can also install a different key tenant, probably John Lewis, in the main department store, with a consequent boost to rental levels. A fairy tale ending for Minerva, if not the Allders staff..."

I remind you that Croydon Council are happily working with Minerva, in respect of their future plans for Croydon redevelopment.

D Day

20th of April is D Day for Stanhope/Schroders to come up with an "arena based" plan, for the Gateway development in and around the Dingwall Road area.

They have not, until now, wanted to include an arena as it is reportedly unviable.

Now, seemingly, they are talking about including a 6,000-seat arena in their revised plans.

In the event that the council rejects these plans, the battle for Gateway will drag on through the courts for years; as Arrowcroft, the council and Stanhope fight it out for their preferred plans.

Meanwhile the good citizens of Croydon will be left to endure that ugly, rotting and dangerous disgrace that is known as Dingwall Road.

Shame on the council and the developers for making us endure this.

Tax Rise Proposed

Croydon council is proposing a 1% rise in business tax, in their efforts to plug their deficits and raise £5M.

The council claims that the money will be "ring fenced", and that it will be used to improve the Borough.

Sorry guys, given your lamentable record regarding the decline and decay of Croydon and your failure to manage your own budgets effectively; I find this rather hard to believe.

Member of Council Arrested-Allegedly!

I have heard an interesting rumour about the alleged arrest of a member of the transport and planning committee of Croydon council.

Seemingly the unidentified committee member was caught on a tram on Lebanon Road without a ticket, during a combined BTP Surrey Police and Met Police anti theft policing initiative, in March.

Our hapless miscreant when challenged, then swung his bag at an officer and promptly fell over a wall.

Oh Dear!

If anyone can provide me with further details about this allegation, I will be much obliged.

Croydon To Emulate New York?

I recommend that you read this interesting article in Saturday's Times about Croydon (click on the link to the Times to read it).

Basically the article outlines the vision of the big property developers, architects and Croydon council for the future of Croydon.

Were these groups to be believed, the next 10 years or so will see Croydon transformed into a glittering metropolis emulating New York.

The only trouble I have with believing in this dream, is the reality of Croydon today.

How can you believe that these people will succeed in building their vision of the future, if they cannot address even the most basic of issues that have been highlighted on this site over the last 12 months?

• The "Bird House" is still crumbling



• Dingwall Road is a post nuclear disaster area



• "The Little Shop of Horrors" is still a blight on the landscape



• The "pile of rubble" is still there on St James's Road



• The area around the Home Office is still a scrofulous tumour on the backside of Croydon

Bottom line guys, you (the property developers, architects and council) have failed us many times before, we the citizens of Croydon don't believe you any more.