(following on from the topic Master Plan - What are Almoners trying to achieve?)
Following many requests for further information, The Ridley Society have published on their website a copy of a letter of 24th June 1998 which went out to a number of Old Blue Governors, regarding the sale of propery in Queen Anne's gate.
Go to http://www.ridleysociety.com and click on the "Queen Anne's Gate" section on the left to read the entire letter, and a brief intro CLICK HERE
The sale of Queen Anne's Gate...
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spiderlegs
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The letter at a glance
Having been through the above letter it necessarily makes quite heavy reading.
For those of you lacking the time I have summarised it below -
1) The Council of Almoners decided to sell the properties to a company called Hedgemanor Ltd for £2,905,000
2) They were immediately sold on to another company called Safelands for £3,500,000
3) From there, it seems they properties changed hands a few more times before reemerging on the market a few months later. In the meantime the then owners had invested £800 in obtaining planning permission for the properties to be converted from office use to domestic use. Asking price - £7.5 million. (The actual advertisement is on the Ridley Society website.)
4) A neutral observer commented at the time that, in effect, CH wrote a cheque for £595,000 payable to Hedgemanor Ltd, "apparently nothing more than a two bit company with no past, very little present and possibly no future."
5) Investigations into who was behind Hedgemanor have proved inconclusive. Their address was 23 Cavage Place, London. Directory enquiries had no number for any such company and the Post Office had no knowledge of any such company at that address.
Attempts by the Ridley Society to question the Council of Almoners further on this matter were cut short by a request from the floor that the meeting be wound up.
End result, the school lost almost £5 million in potential profit from the sale of the properties.
For those of you lacking the time I have summarised it below -
1) The Council of Almoners decided to sell the properties to a company called Hedgemanor Ltd for £2,905,000
2) They were immediately sold on to another company called Safelands for £3,500,000
3) From there, it seems they properties changed hands a few more times before reemerging on the market a few months later. In the meantime the then owners had invested £800 in obtaining planning permission for the properties to be converted from office use to domestic use. Asking price - £7.5 million. (The actual advertisement is on the Ridley Society website.)
4) A neutral observer commented at the time that, in effect, CH wrote a cheque for £595,000 payable to Hedgemanor Ltd, "apparently nothing more than a two bit company with no past, very little present and possibly no future."
5) Investigations into who was behind Hedgemanor have proved inconclusive. Their address was 23 Cavage Place, London. Directory enquiries had no number for any such company and the Post Office had no knowledge of any such company at that address.
Attempts by the Ridley Society to question the Council of Almoners further on this matter were cut short by a request from the floor that the meeting be wound up.
End result, the school lost almost £5 million in potential profit from the sale of the properties.
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Great Plum
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spiderlegs
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The fiasco of Queen Anne's Gate
According to the Clerk in his reply to a letter from the Ridley Society about this, the Council of Almoners take professional advice in these matters. (As in keeping with directives from the Charity Commission on the disposal of charity owned land.)
The professionals advising the Council of Almoners' Property Sub-Committee were DTZ Debenham Thorpe. Following the fiasco, DTZ were relieved of their duties - a move which left them 'very upset'. As regards the Property Sub-Committee, there were no resignations.
In fact, in the Council of Almoners' 1996 Annual Review, the Treasurer congratulated the Chairman (someone with, apparently, plenty of experience in central London property developments) on his expertise in negotiating terms for the redevelopment of another property, 15-17 Long Acre.
Pass the cigar box and double brandies all round, what what?
The professionals advising the Council of Almoners' Property Sub-Committee were DTZ Debenham Thorpe. Following the fiasco, DTZ were relieved of their duties - a move which left them 'very upset'. As regards the Property Sub-Committee, there were no resignations.
In fact, in the Council of Almoners' 1996 Annual Review, the Treasurer congratulated the Chairman (someone with, apparently, plenty of experience in central London property developments) on his expertise in negotiating terms for the redevelopment of another property, 15-17 Long Acre.
Pass the cigar box and double brandies all round, what what?
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spiderlegs
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hedgemanor ltd
All details are in the relevant letter on the Ridley Society web site (http://www.ridleysociety.com), you can also email your question direct to them through the link there.
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spiderlegs
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To add to my earlier point. I think Hedgemanor now no longer even exists. It probably stayed in existence just long enough to cash the huge cheque it made by selling the properties on. (Over £500,000 I think)
Of course the people who could tell you all about who Hedgemanor were is the property committee of the Council of Almoners. After all, it was they who decided to sell Queen Anee's gate to Hedgemanor.
Of course, if somehow it ranspired that there was a link between Hedgemanor and certain individuals on that committee, the last thing they'll want to do is divulge that information...
Of course the people who could tell you all about who Hedgemanor were is the property committee of the Council of Almoners. After all, it was they who decided to sell Queen Anee's gate to Hedgemanor.
Of course, if somehow it ranspired that there was a link between Hedgemanor and certain individuals on that committee, the last thing they'll want to do is divulge that information...
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spiderlegs
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Quick search on http://www.companieshouse.gov.uk/
Name & Registered Office:
HEDGEMANOR LIMITED
23 CAVAYE PLACE
LONDON
SW10 9PT
Company No. 03203034
Status: Dissolved 23/06/1998
Date of Incorporation: 23/05/1996
Country of Origin: United Kingdom
Company Type: Private Limited Company
Nature of Business (SIC(92)):
7031 - Real estate agencies
Accounting Reference Date: 31/05
Last Accounts Made Up To: (NONE AVAILABLE)
Next Accounts Due: 23/03/1998
Last Return Made Up To: 23/05/1997
Next Return Due: 20/06/1998
Last Members List: 23/05/1997
Previous Names:
No previous name information has been recorded over the last 20 years.
Branch Details
There are no branches associated with this company.
Oversea Company Info
There are no Oversea Details associated with this company.
Name & Registered Office:
HEDGEMANOR LIMITED
23 CAVAYE PLACE
LONDON
SW10 9PT
Company No. 03203034
Status: Dissolved 23/06/1998
Date of Incorporation: 23/05/1996
Country of Origin: United Kingdom
Company Type: Private Limited Company
Nature of Business (SIC(92)):
7031 - Real estate agencies
Accounting Reference Date: 31/05
Last Accounts Made Up To: (NONE AVAILABLE)
Next Accounts Due: 23/03/1998
Last Return Made Up To: 23/05/1997
Next Return Due: 20/06/1998
Last Members List: 23/05/1997
Previous Names:
No previous name information has been recorded over the last 20 years.
Branch Details
There are no branches associated with this company.
Oversea Company Info
There are no Oversea Details associated with this company.
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J.R.
- Forum Moderator
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I think one could safely say without fear of reprisals that the above information absolutely stinks !Concerned wrote:Quick search on http://www.companieshouse.gov.uk/
Name & Registered Office:
HEDGEMANOR LIMITED
23 CAVAYE PLACE
LONDON
SW10 9PT
Company No. 03203034
Status: Dissolved 23/06/1998
Date of Incorporation: 23/05/1996
Country of Origin: United Kingdom
Company Type: Private Limited Company
Nature of Business (SIC(92)):
7031 - Real estate agencies
Accounting Reference Date: 31/05
Last Accounts Made Up To: (NONE AVAILABLE)
Next Accounts Due: 23/03/1998
Last Return Made Up To: 23/05/1997
Next Return Due: 20/06/1998
Last Members List: 23/05/1997
Previous Names:
No previous name information has been recorded over the last 20 years.
Branch Details
There are no branches associated with this company.
Oversea Company Info
There are no Oversea Details associated with this company.
The company exists for two years and a month. Fails to make account returns or list members.
Forget the funny hand-shakes and the wearing of aprons, this whole business smacks of company fraud !!