Скачать или смотреть CORRUPTION: Merchant Venturers buy 2600 acre Bristol Port for £10m from 'Ex' Merchant Venturer Mayor

Merchant Venturers buy 2600 acre Bristol Port for £10m from 'Ex' Merchant Venturer Mayor



Merchant Venturers David Ord, Terence Mordaunt & Ross Ancell buy 2600 acre Bristol Port for £10m from Bristol 'Ex' Merchant Venturer Mayor George Ferguson

= CORRUPTION?

Steve Norman, Avonmouth Community Action Group

Dialect podcast - DialectRadio.co.uk - 06Jan16

Controversial sale at Bristol Port goes ahead
By The Bristol Post | Posted: August 04, 2015
http://www.bristolpost.co.uk/Controve...

THE controversial sale of the freehold of the land at Bristol Port has gone ahead despite campaigners raising concerns over the deal.
The sale will raise £10 million for Bristol City Council but objectors have argued that the company behind the port could now sell of some of the land for housing.
The port now owns much of the land and will be looking to expand its operations at Avonmouth.
The Bristol Port Company was privatised in 1991 when the City Council sold the business with a 150 year lease on 2,500 acres at Avonmouth and Portbury.
The port, which provides employment for more than 10,000 people, is still a privately owned company.
Terence Mordaunt, chairman of the Bristol Port Company, said: "It was a visionary move by Bristol City Council to sell the Port in 1991, netting the council £68 million so far.
"Now Bristol's mayor has completed the process so we can continue to invest in this important UK asset. We're delighted to conclude the deal today which gives a further £10m to Bristol City Council and secures our ability to invest in the Port's future."
He added: "The city's decision to sell the freehold is a vindication of the mayoral system which was designed to allow councils to make bold, efficient business decisions.
"We have been impressed by the way the multi-party Cabinet approached this process which was generally helpful.
"The previous leasehold arrangement would have made it increasingly difficult, and eventually impossible, to finance our capital-intensive business. Bristol was the only major port in the UK which was restricted in this way; it is now able to compete for investment on a level playing field."
George Ferguson said: "I'm very pleased to have completed this excellent deal following an extremely thorough business process. All professional advice I've received demonstrates that this is exceptionally good value for the people of Bristol.
"We have driven a remarkable deal for the city, which includes a specific £1m fund for the 'four villages' contained within Avonmouth and Kingsweston wards.
"I have already started discussions with the local councillors and the Neighbourhood Partnership to agree how best to invest this money across these communities close to the Port.
"Meanwhile the whole city benefits from £9m to be invested in a revolving regeneration fund, helping us kick start some high value projects across the city.
"There was an understanding the Council would sell the residual freehold to the Bristol Port Company at market price back in 1991, once the company had proved its capability of running an efficient port. They have more than delivered on this and the agreed price far exceeds market value.
"Most major UK ports are not leased because investors can be put off by what they see as a lack of long term security of the property.
"In selling the freehold we have removed this barrier to open up opportunities for hundreds of millions of pounds of future investment.
"This will be to the mutual benefit of the city and the company, helping boost trade and stimulate the economy. The city retains its 12.5 per cent shareholding in the Port Co, currently worth over £1m a year to us in income, and now hopefully to increase."
If it had kept the freehold, the council would have received no rent for 150 years and did not have any meaningful influence over the management or use of the land.