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FRED DONE TO GET ANOTHER £5.2M FOR SALFORD FLATS FROM GREATER MANCHESTER COMBINED AUTHORITY
 

Star date: 24th March 2017

NEW FRED DONE GM LOAN WILL TAKE TOTAL TO £22.5MILLION FOR BLACKFRIARS FLATS

The Greater Manchester Combined Authority is set to issue a new £5.2million loan of public money to Fred Done's company FICM Ltd, which is on top of £17.3million already granted; taking the total subsidy to £22.5million from the controversial GM Housing Investment Loan Fund.

The cheap loan is towards the construction of 380 unaffordable apartments on the corner of Blackfriars Road and Trinity Road.

Full details here...


Fred Done Salford
click image to enlarge

As Salford City Council launches its new 'commission to tackle homelessness in the city' and Paul Longshaw, the Council's Lead Member for Housing, weeps that "we're committed to building genuinely affordable housing in the city", another huge public money loan has been granted to Fred Done's company FICM Ltd to build unaffordable flats in the city.

Fred and Peter Done are the sixth wealthiest people in the North West, worth £950million, up £50million from the previous year, according to the Sunday Times Rich List (see here) but have had a ridiculous amount of help from local public authorities to build 380 unaffordable flats in two ugly blocks on the corner of Blackfriars Road and Trinity Road.

When planning permission was first sought for the blocks, Salford Council waived £1.28million of planning fees plus the need to provide 76 affordable properties because the development wouldn't be 'viable' if the Dones had to pay the fees ie that their profit wouldn't be high enough (see previous Salford Star article – click here).

Once the Done's got planning permission, they went cap in hand to the Greater Manchester Housing Fund and got a cheap subsidised public money loan of £17.312million (see previous Salford Star article – click here).

The £300million Fund is underwritten by Greater Manchester's ten local councils, of which Salford's share is £21.129million.

A meeting of Greater Manchester Combined Authority next week is set to rubber stamp the granting of a further loan for the Dones' Blackfriars project of another £5.2million, making a total £22.5million in subsidies for the North West's sixth wealthiest people.


Also in the running to get cheap loans from the Fund are:

Wiggett Homes Ltd - £1,555,880 for 22 houses on a site in Radcliffe.
Blue Dog Property 2 Ltd - £1,866,000 for 33 apartments on the site of the former police station in Baguley.
Urban & Civic (Princess Street) Ltd - £43,310,000 for 351 apartments on a site on the junction of Princess Street and Whitworth Street in Manchester.
Select Property Group and the Greater Manchester Property Venture Fund - £36,300,000 for 677 apartments on the former BBC site in Manchester.
Hillcrest Homes Woodlands Ltd - £3,900,000 for 15 houses and nine apartments on the site of the Bretherens Hall in Heaton Mersey.


See also previous Salford Star article: Greater Manchester Mayor Candidate Andy Burnham Slates £300million Luxury Housing Fund – click here

See also: Fred Done Honoured for Services to Salford Heritage Destruction - click here

tony ormonde wrote
at 20:03:13 on 24 March 2017
The Labour Party controls local politics. Treachery and betrayal by the labour party seems to be the softest description of their actions.
 
mary ferrer wrote
at 20:03:10 on 24 March 2017
Why are private companies,owned by multi millionaires getting low cost loans to build properties which don't have any social housing within their project's. I would not have a problem giving loans to builders who made some provision for social housing. But WE are helping to line the pockets of millionaires,who are not giving anything back to the community. They also get away with paying NO planning fees.If Fred and his brother want to build flats/apartments,then go do it with YOUR money. If FRED and co are not going to make a profit, then sod off and lets wait till someone comes along who WILL pay the planning fees,and who will build affordable homes.Give them the loans. These apartments that Fred is hoping to build won't help the housing shotfall.So if they jump on a horse and bugger off we in Salford won't have lost anything
 
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