Quote:
Originally Posted by AlessioSBT
Someone working in the industry told me Holborn has no intention to build this. They are planning to wait for the market to improve and then sell the project to someone else and make money in the process.
I don't know this person personally so take this as it is (random person saying something).
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I mean,... I made the same prediction a couple of posts higher up, but to be honest, it doesn't take that much of a genius or a clairvoyant to work out that that's what the play is here.
Even in the best of market conditions, there's just too much risk involved in a project of this magnitude without considerable backing (both financial and experiential) and I just don't see either coming together on this one.
And as noted in the post before mine, we can literally see Bonnis running the exact same play in a couple of their project proposals in real time as we speak, just a few blocks away.
I'll be more interested to see who actually buys it from them and subsequently what their plans will be, just as I'm more interested now in seeing what Onni* does with the former Bay store and building next door.
(*....though I realize it will be a long while before we see any movement, or even a proposal on that front. But at least with them we know they're not just buying it to sit on it for a couple of years, submit a proposal and then sell on a couple of years later for a profit.)