Announced on the front page of the Gazette this week, news that the company, much associated with the late Jimmy Godden has now changed its name from the Margate Town Centre Regeneration Company to the equally in my opinion misleading name, DreamlandLive.
Calling itself the Margate Town Centre Regeneration Company, always seemed rather insulting to the town given that its largest assets in Margate was surely the old Dreamland Amusement park, which as far as I know had been dismantled by Mr Godden and his associates and has lain in pretty much either derelict or run down state before and during the life of this blog, now to add insult again in my opinion they are choosing to call it DreamlandLive giving it a snazzy new identity, under its previous brand it didn't regenerate much and I cannot imagine any group of businesses and banks looking too kindly on keeping any part of Dreamland alive.
The idea that the current owners are going to pay some homage to the past, is just an impression, still if that were true, why have they not rebuilt the Scenic Railway, which is in their ownership, why have the council had to step in and make repairs to Dreamland building?
Chief Executive Toby Hunter, has the cheek to claim that Thanet residents do not realise the scale of Thanet's potential commitment to invigorating the Dreamland site, still I'd hazard a guess the Mr Hunter doesn't realise the scale of contempt for the blight caused to the area, by the speculative nature of destroying what was once an important asset for Margate, the Dreamland Amusement park, on the assumption that if you can get away with building hundreds homes on what was a once an important leisure site, you'll make far more wonga.
Maybe Margate Town Centre Regeneration Company DreamlandLive could take a look just how the property, market is doing in these parts or anywhere else for that matter. Worryingly according to the company, they've cut plans to shoe horn 800 homes on to the site and but still hope to go for five hundred, no doubt they've considered whether the infrastructure, roads, drains and all that will support maybe a thousand plus residents also given the extreme deprivation in Margate, who's going to want to live on the proposed estate, if this high density project goes ahead, the most likely occupants will be, social security dependents and migrants on poverty wages.
Still since I understand back in January this year it was reported that "the Close Brothers bank, is owed £6 million from mortgages on the site and is understood to be willing to lend MTCRC at least half of the estimated £20 million development costs" that there must be incredible pressure to steam roller the authorities in capitulation, myself I assume that the banks made a cynical decision at some time that they could ride roughshod over the greater interests of the people of Margate a gamble on their part and I hope they lose.
Hopefully the compulsory purchase order to purchase part of the park, will be decided in favour of the council and those wishing to create a heritage park will get the go ahead and even better we get our Margate back from the speculators and banks.
DreamlandLive as the new company is now called and its predecessor MTCRC has so far looks to have contributed nothing in Margate other than maintaining an eyesore and blighting the area for some many years, lets hope those in authority can give Toby Hunter and his associates a message from the people. Dream on!
Seems that there is rather a lot at stake here for the compny. With Margate houses and apartments costing at least £165,000, 500 houses could bring in between £85 and £100 millions. Profits could be at lest £30 millions. CP order is not an option for this company with these sums involved.
ReplyDeleteAmen to all that.
ReplyDeleteMaybe a more appropriate name for the 'new' outfit would be G-REED?
Just one question ... why have they done zilch, nada, nothing, nowt with the site so far?
Surely just a shower of shysters.
[Sorry - No name for fear of recriminations or attacks from them]
Anon 12.54 why should the owners do something with the site? They probably spent the last 8 years trying to find a solution that TDC would agree to give them a decent profit and Margate an attraction. They are not a charity.
ReplyDeleteSo we need 500 houses at £165,000 a pop smack bang behind the seafront do we?
ReplyDeleteI found MTCRC offensive as a company name, I find DreamlandLive even more so.
Apart from holding the Dreamland site hostage from the people what else does DreamlandLive do?
In accounts for 2010 filed in Spetember 2011 they had no employees, turnover of £150k, £20k in the bank, had a net worth of -£3mil, £11mil in liabilities and £15mil in assets. Not much to write home about really.
...and where will these 500-1500 new residents be employed? Where will their children go to school? Isn't Thanet already saddled with the highest unemployment in the country?
ReplyDeleteSure, short term, it's fine, then after the Godden Legacy takes the money and leaves, you're back in the same boat in 3 years with a bigger burden.
I have the guts to sign my comments.
Come on you people...be patient and let the private sector investors regenerate our economy. that being said it dosent matter the name of the investor , but if they are willing to put together a scheme of brand new state of the art Cinemas , and attractive fun sites for day and "night" so let them go for it , and THANET council please help them to preform the right way with a posotive manor. but as it seems we wanto complain and disturb all efforts of private regenerating , thats how you look after all this nonscence, we the residents are the loosers because these investors will make their money some other place , with some better relationship with local authorities. Private investing regenerating has proven more then enough times that they are far better off in todays modern tech world for the poulation ,then the goverment regenerating. example heathrow new terminal 5 more then 75% private. take a look in the US that has been proven time and time. so dont be so hatefull against these group of investors, and attract dreamland margate for future investors in all aspects, it will boost our revenue in all areas begining with jobs and ending with more tax payers for the local council.....so start using your logic brains and stop the nonscence dumb hate....Good Luck.. now start bashing me
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