Like Kerry Packer said, you only get one Alan Bond in your life – and Len Brown’s Alan Bond has showed up today.
Two bozos called James Brown and Simon Rowntree, who own Tournament Parking, have offered Len a mind-boggling $75 million for a scummy downtown carpark, $10 million more than the $65 million council valuation and $45 million over its $30 million book value. They’ve even sent in a $7.5 million deposit. The tipline is running hot with rumours that they haven’t even done due diligence and only decided to go ahead on Wednesday.
Brown and Rowntree say the money should go to get Len’s loopy rail loop underway and are willing to be legally bound that they can’t raise prices above inflation and say they will be forced to keep operating it as a carpark until 2085. They’re also at risk of having to pay Len’s carpark tax.
It’s an offer Len can’t refuse. Read more »