IMG Grading System (Many Merged Threads)

[Griff]

2 hours ago, Dave T said:

It's not something I have a clue about, so it's a genuine q, but is this the kind of thing that happens with valuations? I'm aware people get things revalued all the time, but does this seem odd, or is it reflective of land value etc? 

Some companies are required to revalue annually.  Apart from those, it'd be unusual to revalue more than once every five years.

[Griff]

2 hours ago, dboy said:

No, because it will now cost any potential buyer considerably more to get their hands on the club and it's assets.

I don't think IMG will look at this in a good light.

They quickly jumped on Hudds when they suggested they would close stands to improve their utilisation score, so they won't let this far more serious act slip by.

Can the deliberate mis-valuing of assets be deemed a fraudulent act in tax law etc?

How is it misvalued when they have a chartered surveyor's valuation?

[Griff]

2 hours ago, dboy said:

There is no way on Earth that 3 acres of land, in a flood plain, with no current PP for housing, in Castleford, with a rugby club on it that isn't moving out, is worth anything like £8m.

That would buy you prime real estate in the centre of Leeds!

I see that, following the demise of your tax accountant career, you've switched to Chartered Surveyor.

[dboy]

9 minutes ago, Griff said:

I see that, following the demise of your tax accountant career, you've switched to Chartered Surveyor.

Tomorrow I'm fixing Boeing's space craft software issue.

If you think the Cas ground is worth £8m, you can help me seal an Icelandic volcano with plasticine at the weekend.

[dkw]

2 minutes ago, dboy said:

Tomorrow I'm fixing Boeing's space craft software issue.

If you think the Cas ground is worth £8m, you can help me seal an Icelandic volcano with plasticine at the weekend.

What exactly is it you think has happened here then, a chartered company has basically committed fraud , fraud which is open to an independent audit at any time? 

[dboy]

2 minutes ago, dkw said:

What exactly is it you think has happened here then, a chartered company has basically committed fraud , fraud which is open to an independent audit at any time? 

Well, I'm not sure that the claim that the ground has been revalued at that price has actually been verified, but if you've read the thread, you'll have seen that I've suggested it may be more to do with underwriting a significant bank loan.

The asset benefit on the IMG score sheet is pretty insignificant and not worth a paper-based over-valuation. It can't be the main reason it's been done.

[Damien]

3 minutes ago, dboy said:

Well, I'm not sure that the claim that the ground has been revalued at that price has actually been verified, but if you've read the thread, you'll have seen that I've suggested it may be more to do with underwriting a significant bank loan.

The asset benefit on the IMG score sheet is pretty insignificant and not worth a paper-based over-valuation. It can't be the main reason it's been done.

The reason is pretty much irrelevant though to this discussion about the revaluation and if its correct or not.

[dboy]

2 minutes ago, Damien said:

The reason is pretty much irrelevant though to this discussion about the revaluation and if its correct or not.

Who died and made you moderator?

I didn't introduce the topic to the thread.

I'm sure a moderator will move it to another thread if deemed appropriate, though if it has been done to affect an IMG score, then it certainly is relevant.

In the meantime, feel free not not engage in that element of the discussion, if you don't feel it has relevance.

[dkw]

11 minutes ago, dboy said:

Well, I'm not sure that the claim that the ground has been revalued at that price has actually been verified, but if you've read the thread, you'll have seen that I've suggested it may be more to do with underwriting a significant bank loan.

The asset benefit on the IMG score sheet is pretty insignificant and not worth a paper-based over-valuation. It can't be the main reason it's been done.

I like that you claim thats a "ploy". 

[Click]

3 minutes ago, dboy said:

Who died and made you moderator?

I didn't introduce the topic to the thread.

I'm sure a moderator will move it to another thread if deemed appropriate, though if it has been done to affect an IMG score, then it certainly is relevant.

In the meantime, feel free not not engage in that element of the discussion, if you don't feel it has relevance.

whoosh

Edited August 29, 2024 by Click

[dboy]

3 minutes ago, dkw said:

I like that you claim thats a "ploy". 

Not "claimed", rather suggested, but yes, a "a cunning plan or action designed to turn a situation to one's own advantage".

Well spotted.

[Tommygilf]

4 minutes ago, Damien said:

The reason is pretty much irrelevant though to this discussion about the revaluation and if its correct or not.

It's just under 10 acres of land, according to the financial charges against the club held by the Fulton's on the Freehold. Even at 8 properties per acre (working on 9 acres), selling at modest 150k a piece, that's £13 million...

[RP London]

27 minutes ago, dboy said:

Tomorrow I'm fixing Boeing's space craft software issue.

If you think the Cas ground is worth £8m, you can help me seal an Icelandic volcano with plasticine at the weekend.

and your qualifications for thinking it is worth £8m are?

based on the valuation for our land and buildings, where we are in Sheffield and taking into account accessibility, infrastructure etc I would say it may be a bit high but its not out of the realms of possibility as ours was valued about 54years ago (about to get it done again)

[RP London]

15 minutes ago, Damien said:

The reason is pretty much irrelevant though to this discussion about the revaluation and if its correct or not.

if it was done to secure a loan then a bank is hardly going to just take your word for it they would either send someone out of engage an independent surveyor.. as they do with houses.

[Tommygilf]

2 minutes ago, RP London said:

if it was done to secure a loan then a bank is hardly going to just take your word for it they would either send someone out of engage an independent surveyor.. as they do with houses.

Yeah having looked at the size of the plot, the relative similar developments in the local area, (and my own limited experience in these matters) it seems very reasonably valued given the other potential issues.

[dkw]

2 minutes ago, RP London said:

if it was done to secure a loan then a bank is hardly going to just take your word for it they would either send someone out of engage an independent surveyor.. as they do with houses.

Ah but your not taking into account it could be a "ploy", maybe even a "cunning ploy", i mean no one is going to see through one of them...

[RP London]

Just now, dkw said:

Ah but your not taking into account it could be a "ploy", maybe even a "cunning ploy", i mean no one is going to see through one of them...

yes... damn it.... I've been duped again by Baldrick and his cunning plans.... 

[Damien]

7 minutes ago, Tommygilf said:

It's just under 10 acres of land, according to the financial charges against the club held by the Fulton's on the Freehold. Even at 8 properties per acre (working on 9 acres), selling at modest 150k a piece, that's £13 million...

As I said originally it's hardly a huge shock then to be worth around the revaluation figure.

[dboy]

2 minutes ago, Tommygilf said:

It's just under 10 acres of land, according to the financial charges against the club held by the Fulton's on the Freehold. Even at 8 properties per acre (working on 9 acres), selling at modest 150k a piece, that's £13 million...

That's more than double the size I was told by a Cas aficionado - they said 4 acres.

10 acres is just under 9 football fields in area - I don't see that on the map.

The value of the land isn't worked out in the way you suggest, and it would need PP in place to be valued with a residential value. Let's not forget, there is no suggestion at all that Cas have any intention to leave WR.

If you go right back to when this new investor came in to Cas, some, not me I'd never heard of him, suggested he was after the land for development and nothing more. He is a property speculator.

 

[dboy]

7 minutes ago, RP London said:

if it was done to secure a loan then a bank is hardly going to just take your word for it they would either send someone out of engage an independent surveyor.. as they do with houses.

Correct.

But you think IMG will take their word for it on a score sheet?

Has anyone got a link to the news that this valuation is actually a thing? I've only seen it mentioned on this thread.

[Damien]

8 minutes ago, RP London said:

if it was done to secure a loan then a bank is hardly going to just take your word for it they would either send someone out of engage an independent surveyor.. as they do with houses.

Good point.

[LeeF]

7 minutes ago, RP London said:

if it was done to secure a loan then a bank is hardly going to just take your word for it they would either send someone out of engage an independent surveyor.. as they do with houses.

And any valuation worthy of the name will be underpinned by comparables for the basis of the opinion.

[Click]

1 minute ago, dboy said:

That's more than double the size I was told by a Cas aficionado - they said 4 acres.

10 acres is just under 9 football fields in area - I don't see that on the map.

The value of the land isn't worked out in the way you suggest, and it would need PP in place to be valued with a residential value. Let's not forget, there is no suggestion at all that Cas have any intention to leave WR.

If you go right back to when this new investor came in to Cas, some, not me I'd never heard of him, suggested he was after the land for development and nothing more. He is a property speculator.

 

So you have no idea on the size of the land and are just going on what some "Cas aficionado" said.......

But you want people to believe you know what the real value is? 

[RP London]

1 minute ago, dboy said:

That's more than double the size I was told by a Cas aficionado - they said 4 acres.

10 acres is just under 9 football fields in area - I don't see that on the map.

The value of the land isn't worked out in the way you suggest, and it would need PP in place to be valued with a residential value. Let's not forget, there is no suggestion at all that Cas have any intention to leave WR.

If you go right back to when this new investor came in to Cas, some, not me I'd never heard of him, suggested he was after the land for development and nothing more. He is a property speculator.

 

When we last got the factory valued it was worth more for industrial than residential due to demand. That, obviously changes, but we are in an area where there has, in the past, been high residential demand so we were surprised to be told this.. 

Unless you are in the field you dont know what is affecting costs and values.. as mentioned, when looking at our site compared to theirs on the map I can see where they are coming from but it seems a but high, if they have more land than the block on the map then even more reason to believe it. 

 

[dboy]

13 minutes ago, RP London said:

and your qualifications for thinking it is worth £8m are?

based on the valuation for our land and buildings, where we are in Sheffield and taking into account accessibility, infrastructure etc I would say it may be a bit high but its not out of the realms of possibility as ours was valued about 54years ago (about to get it done again)

Are you seriously going to compare land in Sheffield to land in CAS!!??

In a flood plain, with no PP, backing onto a railway, with limited vehicular access, opposite a defunct chemical works. Did I mention it's in Cas?

Have you ever been to Cas??