Completion of the sale

The completion of the sale finally occurred on the 23rd December 2009. The lead-up to this significant event was several days of mounting frustration as the various solicitors talked to each other and large sums of money were moved around between various bank accounts. However it finally happened both before Christmas and, more importantly, before the year end deadline when VAT increased from 15% to 17.5%.

In the weeks prior to the completion of purchase, the work to divide the building was completed and we continued to develop our plans for the refurbishment and occupation of the front offices in early March and for the first phase of the development of the auditorium, welcome area and King’s Kids area to be completed ready for use in September. The first step in this process is to get the electricity supply connected and this requires the Ampthill Road to be dug up one weekend soon and hopefully we will be connected before the end of January – it is amazing how little one can do without electricity!

Roydon

Plans leading to the completion of the sale

The completion of the sale is now dependent on the vendor undertaking the work to separate the building into two. This will be done by demolishing one span of the warehouse and we will have the front section and a Data Centre will have the rear.

We heard last week that work to split the building will commence on the 12 Oct and should be completed in 8 weeks ie the 7 Dec. One reason for pushing to complete the sale quickly is that VAT is due to increase from 15% to 17.5% on the 1 January. If we can complete by the 31 December then the saving will be a very significant £37.5K.

We have recently met with our architect and he should have scheme plans of the auditorium, welcome area and King’s Kids area ready at the end of October. We are also developing detailed plans for the refurbishment and occupation of the offices in early March.

So we continue to make progress and I think may be approaching the end of the beginning!!

Roydon

Significant news on the Planning Application

The Planning Committee of Bedford Borough Council met on Monday the 24th August to consider our Planning Application for ‘Change of Use’ for the building from Employment (B1) to Community use (D1). Around 50 folks from the King’s Arms attended the meting and, following 45 minutes of tortuous deliberation on a wind farm application, we were delighted when our application was approved unanimously by the committee in under two minutes. For a time there was bedlam as the room erupted in loud cheering – something that I suspect doesn’t happen to often at planning committee meetings.

The approval by the committee is subject to various issues linked to noise and parking being satisfactorily resolved, and we are still working on these.

Having got over one major hurdle (well almost!) we are now starting to look ahead in more detail and our best estimate of the future timescales is:

1. Completion of the purchase in late Dec/early Jan.
2. Occupy the offices, following their refurbishment, by the end of Feb 2010.
3. Commence development of the main auditorium, welcome area, kings kids, toilets etc etc in Jan 2010, with the aim of being able to use the facilities from September 2010.

Looking back over the last year we have not been very good at keeping to our forecast timescales, but hopefully we will improve in this next phase.

Roydon

Progress with the Planning Application.

Our Planning Application for ‘Change of Use’ for the building from Employment (B1) to Community use (D1) was ‘validated’ by the Planning Department at the Borough Council on the 24 Jun 2009 as application No 09/01332/FUL, see:

http://www.publicaccess.bedford.gov.uk/publicaccess/default.aspx

In order to ensure that the neighbours to the building are aware of our plans we have distributed a brochure which provides an overview of our plans for the building. We have also written to the Borough and Urban Community Councillors in the Cauldwell Ward. The brochure can be viewed at:

https://files.getdropbox.com/u/610609/Crayola%20building%20brochure%20-%20v4.pdf

We had thought that the process for a planning decision would take 13 weeks but the website says that the ‘Target Decision Date’ is the 19 August, just 8 weeks.

So we are almost half way through the process.

However there are still issues linked to noise and parking that we are still working on.

Roydon

More good news

More good news in the past week.

Firstly a large ‘SOLD’ notice has appeared outside the Crayola building. This is a little misleading as we have only exchanged contracts and it is going to take us a few months yet to complete the sale. However the company buying the rear section of the building have completed their sale and are wanting to get the work to separate the building underway as soon as possible and this is definitely good news for us.

Secondly we have submitted our Planning Application for ‘Change of Use’ for the building from Employment (B1) to Community use (D1) to the Planning Department at the Borough Council. We hope to have a positive decision within 13 weeks.

Roydon

We have a building – well almost!!

On Friday 22 May at 16.10 we finally signed and exchanged contracts to purchase the front section of the Crayola Building. This was achieved after many very frustrating weeks of negotiations between three lots of solicitors (ours, the bank providing our loan and the vendors) and well as the vendors and ourselves.

So after 10 years of trying to get a building for the King’s Arms Church we have made a very significant step towards achieving our goal.

Before we can complete the purchase we need to gain approval for ‘Change of Use’ for the building from Employment (B1) to Community use (D1) from the Planning Department at the Borough Council. A draft submission has been made for comment and we hope to complete the final submission in the next two weeks.

As mentioned previously, we have surveyed 1,250 homes in the area around the Crayola Building to introduce ourselves and also to determine the needs of the community. A good response was obtained (encouraged by the ipod nano to be won in a prize draw!) and the results are now being analysed in detail. The ipod nano was won by a resident of Sandhurst Place and he will be receiving his prize tomorrow.

Further developments and more progress!!

Last week there was a joint meeting between King’s Arms and Frontiers Estates (the Vendors) and our respective solicitors. This was a very positive meeting, which resolved a lot of issues that the two sets of solicitors had been discussing for some weeks, and led to the agreement that we would work towards the goal of enabling the signing and exchange of contract to take place on Friday 17^th April. Since the meeting we have had the Easter holidays and I am still waiting to see if the goal set for the 17^th April is going to be met; but if we do miss it then I anticipate it will only be by a few days.

 

The building has been valued once again. The first valuation was in September 08 and Unity Trust Bank, the bank providing us with a loan, required that we had another valuation undertaken by a different company. Fortunately the result of the exercise was the same valuation as previously, but sadly it cost us £1,900 plus VAT to learn this.

 

We have recently distributed a survey to 1,250 homes in the area around the Crayola Building to introduce ourselves and also to determine the needs of the community. The final response date for survey is the 24^th April and we already have around 50 responses. In order to get a good response we have offered a free ipod nano to be won in a prize draw by one of the folks that completes the survey.

 

A potential problem emerged a few weeks ago when we learned that Bedford College were no longer buying the rear portion of the building. However a new buyer has now been identified but for business reasons they want a detached building and thus Frontier Estates (the Vendors) have agreed to demolish one span of the current building to create two detached buildings. This change will have no effect on the size of the building that we are buying and could be to our advantage.

 

So once again I am able to report slow, but continuing and steady progress. Apologies that this blog is not more exciting – maybe next time!!

 

Roydon

Some real progess at last!

When we agreed a price for the purchase of the Crayola building in October last year, I naively forecast that we would complete the purchase and be able to move-in during April 09. This forecast has proved to be hopelessly wrong and the latest estimate for the completion of the purchase is now Oct 09.

After several months of slow progress things are now starting to move. The main event of the last three weeks has been the signing of a loan agreement with the Unity Trust Bank for around £1M. This is a major step forward which enables us to proceed towards contract exchange and this should happen in the next few weeks.

VAT is another topic that we are wrestling with and, having taken advice from VAT experts, we have decided to register the Trust for VAT. This is because we expect that the amount of business income generated once we move into the building to exceed the VAT threshold in the next year or so. We are also hopeful that we will be able to claim back a good proportion of the VAT that has to be paid on the purchase price – a not insignificant sum!!

We also continue to work on a variety of other issues including: noise, drains, gas and electricity supplies and branding.

The prep-application meeting with the Planners took place in early March, with Bedford College and Frontier Estates (the Vendors) also in attendance. The meeting enabled us to clarify exactly what needs to be included in the Planning Application for ‘Change of Use’ and hopefully this will be submitted within the next few weeks.

So in summary, things continue to move forward.

Roydon

More progress – maybe?

Yet another three weeks have passed and, despite good progress being made in several areas, the goals of exchanging contracts and submitting the Planning Application for ‘Change of Use’ are still frustratingly several weeks away.

The Building Survey report has been received and the building is basically in good condition. However as with all surveys, there are a number of things that will need to be attended to once we move in, like: clearing out gutters, re-pointing of some brickwork and some repairs to the drains. The video taken by the robot device that has been exploring the drains has been received and the most exciting thing I have found was a spider which was obviously scared by the robot disturbing its normal routine! We have also receive a massive two inch thick environmental report on the site clean-up that was completed a couple of years ago and, once again, there doesn’t seem to be any significant issues remaining that should concern us.

There has also been good progress with regard to our application for a loan. Of the four initial offers received, we have pursued the best two and have now received firm offers and decided on the one we plan to accept. However at a late stage the organisation making the second offer slightly improved their terms, but probably not sufficiently such that we will change our decision. So on Monday Michelle Telling and I will be meeting with the Brokers that we have been using, to review the detailed terms which hopefully will be in a form that we can accept.

Another area of progress has been the selection of the architect to work with us on the detailed design and refurbishment of the building. The company selected is ‘i58’ (which stands for Isaiah 58) and they have previously worked on two churches built from converted warehouses in St Albans, and we have been to visit both churches with the architects.

Progress on the preparation of the contract of sale has been frustratingly slow, but now that the Building Survey has been completed and we have a formal offer of mortgage, hopefully things will speed up.

The long awaited pre-application meeting with the planners at the Borough Council finally takes places on the 4th March. As well as ourselves, Bedford College and Frontier Estates will also be at the meeting. It is hope that we will obtain guidance on what is required in the Planning Application such that once the application is submitted that it should progress smoothly through the system.

In summary, I think we are now starting to make some substantive progress. Thank you for your continued interest and patience; this being something we all need lots of!!

Roydon

Progress – maybe!

In the three weeks since I last ‘blogged’ (if there is such a word!), a lot has happened, but unfortunately progress towards the goals of exchanging contracts and submitting the Planning Application for ‘Change of Use’, still seems to be several weeks away.

As mentioned in the last blog, before we can exchange contracts we need to have the building surveyed and have obtained and accepted a firm offer of a mortgage.

A Building Survey was conducted last Monday and initial feedback from the surveyor is that the building is in good condition and we are now waiting to receive his report. The survey included an inspection of the drains and a robot device with a CCTV camera was used to take a video as it travelled 50m down the pipes. I am told that the video is not exactly compulsive viewing, but if anyone fancies watching it then let me know (could be a good evenings entertainment with a few friends and a pizza!!).

Michelle Telling and I have met with another Building Society last Friday and we have now had initial offers from four banks/building societies. With interest rates at a very low level we are thinking that our best option is to go for a tracker mortgage, however it seems that the lenders are putting a ‘floor’ in their offers such that, however low the bank rate falls, the rate on offer to us will not go below the ‘floor’ level.

In support of the mortgage application we have produced a 35 page Business Plan and a Finance Plan. The Business Plan includes details of how we intend to modify and use the building as well as provisional financial accounts for 2008 and the history of our search for a building over the last 10 years. If you would like to read it then send me an email at roydon@loveley.plus.com.

On the Planning Application we are still waiting for a pre-application meeting to be arranged with the planners. This is being organised by Rapleys, the Planning Consultants appointed by Frontier Estates the vendors. Frontiers want the three planning applications to be co-ordinated and submitted at the same time (the three applications are from King’s Arms, Bedford College and Frontiers). Thus we can only wait on this one.

A ‘Travel to Church Survey’ was launched last week and so far there have been responses covering 270 people and we have learned that 82% of folks currently travel to church by car. When we move to Crayola 81% of folks will use cars; so not much difference. This information will be very useful in providing data to support our planning application. If you have not completed the survey then please do so in the next few days.

The final decision on our architect should be made soon. We have now had detailed discussions with four companies, who have each submitted designs for the ‘Welcome Area’ and costs for the complete project. We have also asked for presentations on their previous experience in designing large buildings and, in particular, churches.

So as you can see there has been lots of activity, but unfortunately, not much progress!

Roydon