by darkspilver 15 Replies latest jw friends
An elder told me a couple of years ago that the Society was buying up plots of land that "may" be suitable for a KH and "may" get planning permission. He said that as the Society were cash buyers with ready funds they were able to negotiate some very good deals. If it turned out that a KH was not needed or they could not get the requisite planning permission they could always sell the plots at a good profit.
Looks like he was absolutely correct.
George
According to the UK Land Registry, this property was last purchased on April 15th 2015 for £925,000.
Land and property prices, particularly in London, have escalated in recent years. If there is a post-Brexit price crash looming in the next few years (as seems reasonable), it could be very good business for them to sell now. There might even be a possibility of buying later for a reduced price.
What's happening with the KH's may be more about a reaction to property prices than anything going on within the organisation.
The move from Mill Hill to Essex is about comparative property prices. I imagine that the exodus from New York City is along those lines too.
Hey St George of England!
An elder told me a couple of years ago that the Society was buying up plots of land that "may" be suitable for a KH and "may" get planning permission. He said that as the Society were cash buyers with ready funds they were able to negotiate some very good deals. If it turned out that a KH was not needed or they could not get the requisite planning permission they could always sell the plots at a good profit.
The only problem though is, as I understand it, the Society is a charity and therefore can not legally financially speculate with charitible funds - and take risks unwarranted risks buying land that maybe usuable by the charity.
Guidance: Charity land and property
How to buy or rent charity land and property
+ the property is suitable for your needs
vis-vis without permission to use land/property as a KH, it would not be suitable.
The property in question here was clearly bought for use as a double KH - even if WT can sell it for a profit (and don't forget the expenses involved in buying and selling property: legal costs etc plus costs to get permission to use, which also doesn't seem to have been straightforward - WT were having to go to an appeal as they were initially refused permission to use it as a KH!
This is interesting. I attended Forest Hill at David Road, Forest Hill from 76 to 82. It was an cinema - they still had the old cinema seats! I attended Peckham Congregation for one year say 1983/84. We were based in Coldharbour Lane. it was on the ground floor of an old victorian house with three or four floors I can not exactly remember. At the time they had a lease on the hall but the owner of the freehold had dissappeared. I think the Lease was about to expire. They had been trying for years to find a new kingdom hall. In 1985 I moved to New Cross Congregation. This was based in Watson Street - compared to the other halls this was the best! They were also saving up to get a new hall! About 1990 New Cross joined forces with Peckham and they pit bids for both the old synagogue on New Cross Road and the premises at Scylla Road. They won both - the old synagogue on New Cross had been empty for years! However it is on a very busy main road with a busy bus station and old Victorian houses that have been converted to flats! There were no parking spaces! The elders were kept busy organising and building the halls. About 1991 we moved out of Watson Street and to New Cross Road. New Cross was split and merged with Peckham to form Nunhead who moved to Scylla Road. The new Kingdom Hall was much better than the old hall but by 1992 I DA.
Watson Street may not had been sold as we were led to believe. David Road may only have closed down due to the scandal of the "Delroy Grant the night stalker".
They were always in a rush to expand and build but no thought was ever put in place.
Those old Kingdom Halls some may never been sold but may have been rented out who knows!!!
St George - "An elder told me a couple of years ago that the Society was buying up plots of land that 'may' be suitable for a KH and 'may' get planning permission... If it turned out that a KH was not needed or they could not get the requisite planning permission they could always sell the plots at a good profit."
Credit where credit's due; I've never heard of anyone going broke flipping real estate.
This, more than anything else, tells me that the Org is expecting to lose their tax-exempt status in the near future.
The property wheeling-and-dealing has become so egregious, it's as though they got nothing left to lose.
