October 3, 2018 at 11:52 am #156742
Furthermore I know some people who went to Ty Pawb specifically for a Blank Canvas coffee so it means footfall is going to get hit even further for the rest of the traders in there.October 3, 2018 at 10:08 pm #156772
Blank Canvas guys are young and deserve support — Bank Street and Bus Station still very much openOctober 5, 2018 at 7:55 pm #156901
Interseting Tweet from Cllr Terry Evans — I think he has forgotten that he is a Executive Board Member responsible for the whole fiasco at Ty Pawb- assd the Lead Member for the Town it is in his portfolio- in other words he was congratulating himself!October 5, 2018 at 8:55 pm #156904
Of maybe sick of the constant negativity (some , but not all justified) and hoping to move on from the rather depressingly repetitive comments from largely the same group of contributors. A new chapter. Would be nice to hear the true picture from the remaining traders.October 5, 2018 at 9:50 pm #156908
Just remember that any reduction in rental income will increase the shortfall at the end of the year and increase the amount of rate payers money going to subsidise a building for the very few users at a time when Social Services, Education , Roads etc are having budget cuts.October 6, 2018 at 1:22 pm #156920
CW– There will be a shortfall of around £20k with rents being discounted based on all 20 units being let continuously for the 12 months. I do not know the number of stalls still available to let but this will increase the £20k figure.
In the Business Plan by consultants Fourth Street the Rent Roll for the markets side was put in at £194k. With this shortfall and no Café/Bar at £32k it would seem that the final return will be quite a bit below expectations. Once again the Council have messed up and let a lot of traders down.October 6, 2018 at 4:01 pm #156922
The only saving grace is that parking income appears to be above estimates.October 6, 2018 at 5:08 pm #156923
Liam– The Fourth Street Report projected car park receipts to be £159k. This was allowing for a charge of £4 for 2 hours, since that projection the Council have reduced the charges.
The projected income was £159k with overheads of £95k leaving a net income of £64k.
It remains to be seen if the final figure after the reduced tariffs will come in at £64k net income.
October 6, 2018 at 5:26 pm #156925
- This reply was modified 10 months, 2 weeks ago by jimbow.
The activities in Ty Pawb are the same ones local pubs put on before they close down, bring and buy sales, coffee mornings etc… its supposed to be an art hub! footfall wont increase till they put something of interest in. why would any art lovers from further than Chester want to come and see one room of art in a building the size of a warehouseOctober 6, 2018 at 8:15 pm #156926
The financial on this project are not going into the red but have been there since day one.
1. Rental income from stalls and food outlet is less than 50% of what is should have been since the opening – the refusal by stall holders to pay rentals, Council reducing the fees as compensation, and the lack of full occupancy. No waiting list for people to take over the empty units
2. As pointed out the car park income is actually way below original projects due to the car park price war
3. Generated profits from the food outlets is nil as the Council are not running any food establishment
4. No income from Police aerial
5. No rental income from the old Art Gallery by the Police as occupancy has not been taken on yet and dispute over who is to pay for the additional work to deal with asbestos
6. Virtually no income from events as most that have been put on are by external organisations
7. Shop taking/profit is significantly less than projection (mainly due to an overpriced product range)
8. Cleaning and maintenance costs higher than budget
These are just a few of the main points that are going to make the ratepayers of Wrexham pay- there is no Plan B for the Council to make up the shortfall from external sources- the Arts offering at present has been so low there is likely to be questions within the Arts Council about whether the place will get the £140k plus of revenue in the budget (which has never been confirmed even though they put so much capital in).
What a very sorry state of affairs but with officers and Council Members in total denial over their failure the deficit is going to keep increasing with no hope of recouping in the future
Complaint? Please use the report post tools or contact Wrexham.com .
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