About 10 Portman Square | 2-14 Baker Street
10 Portman Square | 2-14 Baker Street Campaign
This blog makes no claim of association or representation of the development known as 10 Portman Square | 2-14 Baker Street in London. This blog is a communication tool only and serves to highlight issues affecting members of the public and residents in the vacinity of that site.
The development site at 2-14 Baker Street (10 Portman Square) was acquired by McAleer and Rushe in 2005 with a loan from Bank of Ireland. The price paid was £57.2m.
Unable to repay the loan, the debt was designated for NAMA. Before NAMA assumed the debt, McAleer and Rushe sold the site back to British Land in 2010 for nearly £30m less than it had paid.
The deal appears to have benefited McAleer and Rushe in a number of ways that may not be realised financially by NAMA. This includes a share of the development profits and the awarding of the construction contract to McAleer at a time that their auditors (KMPG) suggest that this company may not be "a going concern".
According to McAleer & Rushe's latest available accounts (filed 2011) all the company's debts are "payable on demand" suggesting that they have not met their repayment schedule on their loans. There are ongoing issues at the site at 2-14 Baker Street (10 Portman Square) affecting members of the public and local residents.
Members of the public and local residents have been put at risk many times and, too date, neither British Land or McAleer & Rushe appear to have faced no real consequences from a regulatory or legal persective.
McAleer & Rushe have resorted to threats, harrassment and intimidation towards local residents objecting to unsafe practices and affected by the practices employed on and around the site.
There have been a number of safety failures leading to deaths on other McAleer & Rushe sites in the UK. Full information and supporting evidence is available on request to interested parties.
10 Portman Square – the new name for 2-14 Baker Street. Sharper, better sounding and, perhaps a better address without having to move….. The name change may help achieve higher rents, shorter rent free enticements and might well have pointed to … Continue reading →
Posted in 10 Portman Square, 10 Portman Square l W1, 10portmansquare, 2-14 Baker Street, Bank of Ireland, British Land, Building Site, Child Safety, Commercial Development, Construction, HSE, Legal Action, London, McAleer and Rushe, Mob, NAMA, Retail Development, Thug, Thuggery, Uncategorized, West End, Westminster, Westminster City Council
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Tagged 10 Portman Square, 10 Portman Square | 2-14 Baker Street, Baker Street, Bank of Ireland, British Land, Business, Central London, Concrete, Construction, Construction and Maintenance, Criminal, damage, Health and Safety, inconsiderate builders, London, McAleer & Rushe, Portman Square, stupid, Thugs, wanton, Westminster, Wikipedia
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2-14 Baker Street which has been renamed as 10 Portman Square, British Land and McAleer & Rushe. Q&A: Background and Facts Subject: 2-14 Baker Street | 10 Portman Square), London W1 Background and Facts McAleer & Rushe originally bought British Land’s … Continue reading →
Posted in 2-14 Baker Street, Boris Johnson, Brighton & Hove City Council, Brighton & Hove Council, British Land, Building Site, Child Safety, Children, Commercial Development, Competition, Construction, HSE, Legal Action, London, London Mayor, McAleer and Rushe, Mob, NAMA, Retail Development, Tax Avoidance, Thug, Thuggery, Uncategorized, West End, Westminster
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Tagged 10 Portman Square, 2-14 Baker Street, Baker Street, Bank of Ireland, Belfast Telegraph, British Land, Central London, Considerate Builders, Construction, Health and Safety Executive, Jersey, KPMG, London, London Stock Exchange, McAleer & Rushe, NAMA, NAMA Wine Lake, National Asset Management Agency, Northern Ireland, Portman Square, public hazard, West End, Westminster City Council
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In what may be more evidence of skullduggery by McAleer & Rushe (or, perhaps, further evidence that they are simply broke?), the firm is facing yet another legal action. This time by Brighton & Hove Council in what the BBC refers to as … Continue reading →
Posted in 2-14 Baker Street, Brighton & Hove City Council, Brighton & Hove Council, Brighton and Hove, British Land, Building Site, Child Safety, Children, children's playground, Commercial Development, Construction, HSE, Legal Action, London, McAleer and Rushe, Mob, NAMA, New England Quarter Development, Playground, Retail Development, Uncategorized, West End, Westminster
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Tagged 10 Portman Square, 2-14 Baker Street, Baker Street, Brighton & Hove City Council, Brighton Magistrates' Court, Children, children's playground, Construction, construction site safety, Councillor Phelim MacCafferty, Enforcement Notice, Health and Safety Executive, HSE, Legal Action, Magistrates' Court (England and Wales), McAleer & Rushe, NAMA Wine Lake, News, Northern Ireland, Playground, Retail Development, West End, Westminster City Council
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