General   (General discussion, talk about anything.)

Baker Boy

So who is paying for it ?

The Chinese government is, and that is because it has been awash with money, and to make that money work, it needs to be tuned into assets, and by building 500 flats plus the Pavilion and new Market Hall, then that money or liquid capital, is turned into property assets, which appreciates in value over time, it also will generate a cash flow from the flat rents.

Not a bad return, considering that leaving that £130 million in the bank, will not earn anything much in interest, compared to redeveloping the Galleries, I suppose also the temptation from Wigan Council, will be that those flats will have to have portion of them for 'affordable' rent, which means they will have what is known has nominated tenants from the council's housing waiting list, and of course if as if people like me and others are predicting, that those flats do not attract up market tenants, and they start to be tenanted by folk from the Wigan Council Housing waiting list, then the council will have access to 500 more flats, that is probably another reason why the council want the eyesore to be built.