Troubled Eastpoint Centre sell off to pay debts

Daily Echo: Eastpopint Centre sell off to pay off debts Eastpopint Centre sell off to pay off debts

EVERYTHING must go, even the kitchen sink.

That is the situation at the Eastpoint Centre as administrators Baker Tilly are auctioning all of its goods, including plasma televisions, laptops, tables and furniture.

The Thornhill conference and events business that ran the £10.5m building closed last month.

But ownership of the building will revert back to landlords Plus You Limited (PYL) once the administrators transfer the lease, expected to be at the end of the month.

Baker Tilly are raising the money to pay off more than 30 creditors owed more than £150,000 in total.

Speaking at a Thornhill Community Voices meeting Mike Allot, PYL community coordinator, said: “The administrator is still on site and they have totted up all of the chattels and they have been put up for sale on an online auction.

Everything is up for sale, literally including the kitchen sink.

“From PYL’s perspective the building is still in the hands of the administrator and will remain so until the lease is surrendered back to PYL and that is not expected to happen until the end of this month.”

Mr Allott added PYL had no plans for the building yet but were having regular meetings to discuss its future.

He said: “There’s nothing happening there at the moment and it’s too early to say and it’s not our responsibility yet. We are trying to find a way forward but it’s a case of wait and see.”

“It could be a good thing for PYL because it means we get control of a £10m community facility. But we would also take on the running costs with only four-and-a-half staff whereas the previous tenants had 23.”

He added: “The impact on PYL has been unbelievable and I don’t think we have ever worked as hard as a team as we have in the past few weeks. We have another board meeting on Monday where more will be discussed but until the lease is surrendered there’s not much we can do.”

Comments (10)

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9:06pm Sun 16 Feb 14

loosehead says...

So nows the time to go out & talk to the locals & look at schemes to fill it & at least break even whilst retaining it as an asset for the community isn't it?
So nows the time to go out & talk to the locals & look at schemes to fill it & at least break even whilst retaining it as an asset for the community isn't it? loosehead

10:42pm Sun 16 Feb 14

sarfhamton says...

Lights are still on, try turning them off to save some money.
Lights are still on, try turning them off to save some money. sarfhamton

10:50pm Sun 16 Feb 14

halfbrain says...

i never understood why £6m of Thornhill money was used to build this. And it didn't work, a white elephant.
Who on earth would want to have a conference there when the city centre is nearby, with easy access to hotels, restaurants and other services?
i never understood why £6m of Thornhill money was used to build this. And it didn't work, a white elephant. Who on earth would want to have a conference there when the city centre is nearby, with easy access to hotels, restaurants and other services? halfbrain

10:54pm Sun 16 Feb 14

halfbrain says...

Maybe it was like The Swallow, they bought that too, spent 3 years with various plans to turn it into a community centre, demolished it, then talked about installing portacabins for the same purpose.
And eventually covered it in new housing.......which was possibly what they'd planned all along?
Maybe it was like The Swallow, they bought that too, spent 3 years with various plans to turn it into a community centre, demolished it, then talked about installing portacabins for the same purpose. And eventually covered it in new housing.......which was possibly what they'd planned all along? halfbrain

11:22pm Sun 16 Feb 14

Ginger_cyclist says...

halfbrain wrote:
i never understood why £6m of Thornhill money was used to build this. And it didn't work, a white elephant.
Who on earth would want to have a conference there when the city centre is nearby, with easy access to hotels, restaurants and other services?
Maybe they should turn it into a community gym.
[quote][p][bold]halfbrain[/bold] wrote: i never understood why £6m of Thornhill money was used to build this. And it didn't work, a white elephant. Who on earth would want to have a conference there when the city centre is nearby, with easy access to hotels, restaurants and other services?[/p][/quote]Maybe they should turn it into a community gym. Ginger_cyclist

7:05am Mon 17 Feb 14

Zexagon says...

Ginger_cyclist wrote:
halfbrain wrote:
i never understood why £6m of Thornhill money was used to build this. And it didn't work, a white elephant.
Who on earth would want to have a conference there when the city centre is nearby, with easy access to hotels, restaurants and other services?
Maybe they should turn it into a community gym.
A velodrome?
[quote][p][bold]Ginger_cyclist[/bold] wrote: [quote][p][bold]halfbrain[/bold] wrote: i never understood why £6m of Thornhill money was used to build this. And it didn't work, a white elephant. Who on earth would want to have a conference there when the city centre is nearby, with easy access to hotels, restaurants and other services?[/p][/quote]Maybe they should turn it into a community gym.[/p][/quote]A velodrome? Zexagon

7:33am Mon 17 Feb 14

loosehead says...

halfbrain wrote:
Maybe it was like The Swallow, they bought that too, spent 3 years with various plans to turn it into a community centre, demolished it, then talked about installing portacabins for the same purpose.
And eventually covered it in new housing.......which was possibly what they'd planned all along?
besides Chantry hall where's the conference centre in town?
[quote][p][bold]halfbrain[/bold] wrote: Maybe it was like The Swallow, they bought that too, spent 3 years with various plans to turn it into a community centre, demolished it, then talked about installing portacabins for the same purpose. And eventually covered it in new housing.......which was possibly what they'd planned all along?[/p][/quote]besides Chantry hall where's the conference centre in town? loosehead

9:35am Mon 17 Feb 14

FreemantleJamez says...

I think Southampton really needs a large conference/exhibitio
n centre combined with a concert venue to attract more large events to the city and bring more money into the economy.
I think Southampton really needs a large conference/exhibitio n centre combined with a concert venue to attract more large events to the city and bring more money into the economy. FreemantleJamez

11:00am Mon 17 Feb 14

Outside of the Box says...

halfbrain wrote:
Maybe it was like The Swallow, they bought that too, spent 3 years with various plans to turn it into a community centre, demolished it, then talked about installing portacabins for the same purpose.
And eventually covered it in new housing.......which was possibly what they'd planned all along?
The Swallow was purchased so that it could be used as a Youth Centre, however things changed due to Government restrictions, there were no plans for housing initially, however local residents decided that housing would be the best outcome for Swallow site, the same goes old St Coleman's Church site.
[quote][p][bold]halfbrain[/bold] wrote: Maybe it was like The Swallow, they bought that too, spent 3 years with various plans to turn it into a community centre, demolished it, then talked about installing portacabins for the same purpose. And eventually covered it in new housing.......which was possibly what they'd planned all along?[/p][/quote]The Swallow was purchased so that it could be used as a Youth Centre, however things changed due to Government restrictions, there were no plans for housing initially, however local residents decided that housing would be the best outcome for Swallow site, the same goes old St Coleman's Church site. Outside of the Box

11:26am Mon 17 Feb 14

halfbrain says...

The Swallow was purchased so that it could be used as a Youth Centre, however things changed due to Government restrictions, there were no plans for housing initially, however local residents decided that housing would be the best outcome for Swallow site, the same goes old St Coleman's Church site

I;m a local resident, live next door, and nobody asked me !
The Swallow was purchased so that it could be used as a Youth Centre, however things changed due to Government restrictions, there were no plans for housing initially, however local residents decided that housing would be the best outcome for Swallow site, the same goes old St Coleman's Church site I;m a local resident, live next door, and nobody asked me ! halfbrain

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