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Old Yesterday, 08:10 PM   #10581
VDB
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Yep, think you're right Andrew.

Any ideas why the changes? Are there any other changes in other areas of Manchester?
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Old Yesterday, 08:21 PM   #10582
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Are more wards being created than currently exist?
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Old Yesterday, 08:33 PM   #10583
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Quote:
Originally Posted by VDB View Post
Yep, think you're right Andrew.

Any ideas why the changes? Are there any other changes in other areas of Manchester?
I can only think its for the increase in population and to better manage the CC. However, there was a consultation last year to extend/change the existing boundary of Castlefield so may have something to do with that.

http://ourcastlefield.co.uk/neighbourhood-plan-update/
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Old Yesterday, 08:53 PM   #10584
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All existing wards have been abolished and replaced. Next year's elections will be for all three councillors in every new ward as per the following Order: http://www.legislation.gov.uk/uksi/2017/1068/made

A map of the new wards can be found here: https://www.lgbce.org.uk/__data/asse...ster_IT_V1.pdf and an interactive version here: https://consultation.lgbce.org.uk/node/8609
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Old Today, 12:25 AM   #10585
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Apart from Found Space what else would be in trouble if anything happened to Carillion?
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Old Today, 01:26 AM   #10586
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Angel Gardens has a Carillion sign on the gates.
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Old Today, 01:49 AM   #10587
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Quote:
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Apart from Found Space what else would be in trouble if anything happened to Carillion?
There's a good chance Carillion may go bust although I don't think the impact would be as bad as some fear. But even if they did administrators would find them a buyer quite quickly for the remaining assets once liabilities they have accrued have been deducted. The workforce (many are sub-contractors now anyway) would shift to other contractors as there is enough demand in the construction industry and wider economy to support them. For those reasons I can't see why the government would wish to get involved and let the market soak up the loss. But all construction projects can go bad, particularly if they're big infrastructure that can overrun in time as Carillion have gambled on. Contractors work off a 3-4% profit margin which is a meagre profit compared to most other industries - if only a few big projects are in trouble they the whole balance sheet does not look rosy. Carillion are stuck in a financial whirlwind - projects are being underpriced during tender stage. Once built, they will be lucky to make any profit and may even be making a loss. They are not progressing quickly enough to release installments/fees to help cashflow (HS2!) And projects are not being completed on time and which results in heavy extension of time penalties for contractors. Carillion are a perfect example of bad management - not of the wider construction industry.

In regards to Carillion projects like Found Space, that's where it is less clear. As I understand it it is a joint venture between Carillion and a few other developers with the proviso that Carillion will build the towers and pocket the contract (and some profit). If Carillion goes bust then this leaves the joint venture short of equity and they may have to find a new partner - however that is not guaranteed unless another company believes there is money to be made from the project. If Carillion were simply a contractor for Found Space, then fine, no shovel in the ground just appoint another contractor. But if there is some financial obligation to fund the project as part of a JV then this obviously jeopardises the project in its current form somewhat.

Angel Gardens is an interesting one as it is on-site and Carillion are the contractor. If Carillion was declared insolvent tomorrow then they could just suspend work and walk off site as a JCT Standard Building Contract would allow. A new contractor can be appointed to complete the remaining works but this is not ideal. What reasonable contractor takes liability for what has been built by the previous insolvent contractor without knowing any potential defects? Let's hope that does not happen because an eyesore concrete core in Manchester city centre for 2+ years is certainly not desirable!
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Old Today, 01:58 AM   #10588
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Quote:
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Apart from Found Space what else would be in trouble if anything happened to Carillion?
You don't want to go there.....no more Found Space would be the least of your problems.
Don't under-estimate the tsunami effect of one of Britain's major construction firms going under. Not just for Manchester but for the UK as a whole. The knock on effects would damage the economy as a whole.People would blame Brexit / knock confidence / investors would get the jitters...those that don't get the jitters will find that they can't get contractors to bid for their project or if they do at stupidly inflated prices that 'kill' the projects' economics etc etc)
Obviously this is just 'me' as a member of a joint account but I'll leave it for others in the team to edit this post if they want to or need to....we have talked about this already and I don't think I'm talking out of turn here.
Carillion going under would have all manner of consequences on these pages....all of them negative.

Last edited by guys in the office; Today at 02:05 AM.
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Old Today, 02:09 AM   #10589
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Quote:
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Angel Gardens is an interesting one as it is on-site and Carillion are the contractor. If Carillion was declared insolvent tomorrow then they could just suspend work and walk off site as a JCT Standard Building Contract would allow. A new contractor can be appointed to complete the remaining works but this is not ideal. What reasonable contractor takes liability for what has been built by the previous insolvent contractor without knowing any potential defects? Let's hope that does not happen because an eyesore concrete core in Manchester city centre for 2+ years is certainly not desirable!
That's spot on JS
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