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Llangollen Railway

Discussion in 'Heritage Railways & Centres in the UK' started by 14xx Lover, Jan 4, 2010.

  1. D1039

    D1039 Well-Known Member

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    See http://www.lnersvrcoachfund.org.uk//wpimages/teak_set/ts_643ib.jpg

    Patrick
     
  2. Wagoniester

    Wagoniester Member

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    Looking at the site again this morning, I don't recall seeing it before, but it looks like the buyer premium incurs its own VAT before the final total VAT is added, or at least that's what the wording implies?
    Would make a £5000 purchase come out at £7152 (i.e. nearly adding 50%) - might chase off a few private owners.
     
  3. D1039

    D1039 Well-Known Member

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    Discussed upthread - see previous page

    Patrick
     
  4. Ribbleman

    Ribbleman New Member

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    The Trust have reported that the Spa Valley Railway have put in an offer directly to the Administrators. This is for the MkI RMB and is said to be in excess of £30,000 but less than £35,000. They are urging anyone interested in making a counter offer in order to keep the buffet car at Llangollen to put it in pronto.
     
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  5. Jamessquared

    Jamessquared Nat Pres stalwart

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    Is it an open auction, or sealed bids? If the latter, disclosing a bid in that way would seem somewhat not quite the done thing.

    Tom
     
  6. D1039

    D1039 Well-Known Member

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  7. Johnb

    Johnb Resident of Nat Pres

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    I’m surprised that the HRA hasn’t tried to discourage other heritage lines from bidding. I think it is slightly distasteful others taking advantage of the Llangollen’s current difficulties. There but fit the grace of God as they say.
     
  8. johnofwessex

    johnofwessex Part of the furniture

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    But other HRA members are creditors and in theory stand to benefit from this sale.
     
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  9. Jamessquared

    Jamessquared Nat Pres stalwart

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    Fair enough - surprised they have disclosed the identity of the bidder though.

    Aren't the best interests of the LR served by obtaining the maximum value for the assets? That might not come from the Trust. If you prevent others bidding and thereby depress the values obtained, you just end up with more of the asset base needing to be sold.

    Tom
     
  10. Gav106

    Gav106 Well-Known Member

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    I don't think that the assets sold will cover the costs of the amount they owe, unless they go for a really high amount.

    However from the point of view of the lms patriot project, and I'm sure many others who are out of pocket from the engineering, the more that they sell for the more likely we are to see some of the missing £100,000 owed, that we will have to go out and fund raise for to get it done properly.
     
  11. simon

    simon Part of the furniture

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    The plc owes more than the value of its assets, by some margin. The benefactors will be the creditors, who, in this case, include a number of railways/loco owning groups. But no one will be being paid off in fill, unless some really high bids are received. I don't think that will happen.
     
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  12. Alan Kebby

    Alan Kebby Member

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    The only thing that would achieve is the coaches being sold for lower values, and ending up with private owners as holiday homes or at scrap merchants.

    Much better for them to go for further use with other heritage lines or mainline operators.

    Clearly and understandably the RMB is one the Trust would like to keep though.
     
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  13. D1039

    D1039 Well-Known Member

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    I know enough to know that there are rules about abuses such as collusive behaviour, but someone other than me would have to advise what they are.

    Patrick
     
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  14. Ribbleman

    Ribbleman New Member

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    It will be an online auction, but the RMB is now said to have been withdrawn from the lots to be sold. It is the Administrators’ duty to obtain the best prices possible. They must have decided that the offer was in excess of what might be obtained on the day of the auction. Informing the Trust of the offer, albeit not the exact amount, does seem unorthodox but presumably within the rules that the Administrators adhere to.
     
  15. 61624

    61624 Well-Known Member

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    On a 9-mile line the buffet car is of questionable value imho. They would be better served keeping one or two more TSOs and running a trolley-based catering service. This is particularly true of an RMB that has next to nothing by way of kitchen facilities.
     
  16. Wagoniester

    Wagoniester Member

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    Disclosing a bidder’s identity is surely against some kind of rule/law?
     
  17. Thompson1706

    Thompson1706 Well-Known Member

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    It wasn't used on service trains, only on real ale trains and other special events.

    Bob.
     
  18. Kje7812

    Kje7812 Member

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    Would I be right in thinking that should 1864 be taken away, the Llangollen would be without a buffet car? As the Thompson buffet is moving to Embassy.
     
    Last edited: Apr 20, 2021
  19. ccbysh

    ccbysh New Member

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    @Thompson1706 is probably the perfect person to explain all this with his direct involvement in LR’s previous boards and 1706!
     
  20. Alan Kebby

    Alan Kebby Member

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    A good point, and arguably even more questionable value to a 5 mile line like the Spa Valley.

    Can’t say I’ve ever seen a buffet trolley on a preserved line. Are there any railways which do this?
     
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