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Most commercial/leisure leases tend to be on an FRI (Full Repairing & Insuring) basis. 


You'll be paying £200k for the next 20 years on it, which pays for it back. Plus as you say, all maintenance and dilapidation repairs upon Lease expiry, or interim. If Partick are clever and can gain other income from it, then it's potentially a zero cost facility.

Obviously I don't know what you pay for your other facilities, but I'd imagine the costs will be similar. It's potentially a tremendous deal for Partick, what with the Weir'd being fans, they won't be looking to exploit the club like other potential landlords would.
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Including our current one at Garscube?


Do you not just hire that facility? I don't know of your circumstances there, but I don't imagine it's a lease is it? If so, then you'll be liable for all repair and decoration costs when you move out. If there are other parties which use it along side you, then it's not an FRI lease and you should be ok, maybe a small payment for ending the agreement early?
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4 minutes ago, dave.j said:

 


Including our current one at Garscube?

 

No idea, do we have a lease there or just rent the facility as required? Would have thought Glasgow Uni retain the headline use over their facility.

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I'm sure I read somewhere we do have a 5 year agreement. I may be wrong, but I don't think I am. Obviously they cover all costs.


That's definitely not a Lease, or at least not an FRI one. If they are responsible for the upkeep and maintenance on the building, it's just a long term hire agreement.
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That's definitely not a Lease, or at least not an FRI one. If they are responsible for the upkeep and maintenance on the building, it's just a long term hire agreement.


Exactly. Thar was my point I had been trying to make earlier, if somewhat vaguely, in my wording
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What's stopping any other club offering more money to be the main tenant to use this new training facility? Seems as if it's billed as Particks new training complex when it's apparently just a similar arrangement as they have the now with the likes of Garscube by paying their way to use when they can.

Edited by paddymcp
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What's stopping any other club offering more money to be the main tenant to use this new training facility? Seems as if it's billed as Particks new training complex when it's apparently just a similar arrangement as they have the now with the likes of Garscube by paying their way to use when they can.


Because the facility is being built specifically for us.
Because it won't be offered to the highest bidder.
It's a completely different set up to the one we currently have.
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Our current arrangement is likely on a license type basis where we are granted use at specific times and probably pay an element of service charge proportionate to the use within our costs. 

Assuming we are taking the headline lease and it allows then there should be nothing stopping us putting similar deals in place to generate revenue. I'm sure whichever local authority it ends up in will want some community use from it. Celtic have/had a deal in place with East Dunbartonshire at Lennoxtown although I'm sure that was fairly limited and under scrutiny at one point towards it's value for public money.

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Our current arrangement is likely on a license type basis where we are granted use at specific times and probably pay an element of service charge proportionate to the use within our costs. 
Assuming we are taking the headline lease and it allows then there should be nothing stopping us putting similar deals in place to generate revenue. I'm sure whichever local authority it ends up in will want some community use from it. Celtic have/had a deal in place with East Dunbartonshire at Lennoxtown although I'm sure that was fairly limited and under scrutiny at one point towards it's value for public money.


I would say that's the best thing Partick can do, put in place a number of facility agreements and reduce their overall repairing liability by way of service charges.
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I said it was an exciting time to be a Jag the other day. I didn't quite realise how exciting...

It's quite a remarkable development for the club to have its own custom training facility and one that I certainly didn't see coming. It potentially gives the club a tremendous advantage particularly when trying to entice players to sign and the benefits of having all teams training at one base are clear for everyone to see. Additionally, I think it gives us a real good chance of keeping Archie at the club for an extra couple of years unless an offer that he couldn't refuse comes along; it's an opportunity to create a proper legacy, one that would never be forgotten.

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Agreed. I feel much more confident that Archie and several of the better players are going to want to stay to see this come into fruition. Obviously one or two will go as money talks like Lindsay, but this news is exceptional.

It may even give us the ability to bring in those 2-3 players Archie really wants this summer to keep us kicking on.

 

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