I was going through our beloved Hartlepool Post earlier and came across the piece on Seneca;
http://www.hartlepoolpost.co.uk/article_king%20oswy%20pub%20development.htm
I could not help wondering what the point of the piece was? Was there a point?
The article fails to inform readers that Seneca chose to sell the land two years ago because it was too small for them to develop and so another developer bought it.
Why would Neil Elliott apply for sites/planning in his own name everywhere else, but not there? It is common practise for a developer to sell land on what is known as a 'license'. Projects are rarely paid for up front and tend to be paid for in phases as the building is completed, its like buy now pay later.
As a avid reader of the Post why did you choose this article to become a member ????
I thought it was very illuminating in regard to who has connections to whom. It did leave us guessing as to who Ray Martin-Wells had sold the site to for his 'paper loss' but you now seem to have supplied the answer, Seneca. So it looks like we now have a possible link between Ray Martin-Wells, Seneca and someone who, according to the BBC News item linked in the article, 'the Crown accepted that the brothers had previously duped customs officials.'
The article left me wondering just who Hartlepool Council thinks it's OK to do business with on the public's behalf.
I don't really know where you're coming from AC. I found the story very interesting. Twelve houses at £30,000 each makes £360,000 which seems a hell of a return for a £150,000 loan. The other thing I wondered about is whether £150,000 is enough to build 12 houses in the first place or is it the case that materials will be paid for as each house is sold. All seems a bit hand-to-mouth to me.
You're right about one thing though. If Seneca are supplying all of the funding for the project then why not just build the houses themselves? All very curious.
Or £150 was the price paid to Wells?