26th Jun, 2022

LETTERS from our latest edition: Wasps finances, Coventry city centre listings and hospital parking

Need the concerts to boost Ricoh revenue

I notice with interest the article in the Observer regarding Wasps failure to file accounts as required by law. Wasps Finance Plc administers the £35million bond scheme. This runs until 2022 and pays yearly dividends at 6.5% interest. This is £2.8million in interest payments each year. If the scheme runs 2015-2022, in the seven years this is a total of £15.9million in interest payments. The bonds are repayable in 2022 so I would expect to see a provision in the accounts

to meet this requirement of £5million times 3 years equals £15million. Where is this coming from? Is this coming from the income generated by Wasps Holdings Ltd? This is income generated from the playing,

match day and stadium activities. Is it enough to fund the bond scheme? What was the £1.1million loan from Derek Richardson for? Was it to meet the interest payments to the Bond holders? The last valuation of the prime asset, Ricoh Arena is £60million, up £12million from the previous year, which begs

the question, What did Wasps pay for the Ricoh? Coventry City Council seems very coy about this transaction. Is the valuation of the Ricoh Arena from a independent valuer or Wasps valuation? Let us hope that there is plenty of concert bookings etc in the summer months to bring in much needed revenue.

Michael Harrington

Frilsham Way


Need a long term vision for the city

Les Reid’s interesting commentary on the listing of buildings in Broadgate and the Upper Precinct concludes: “… promote, champion and sell the unique post-war centre? And find innovative ways of attracting more people to live, work, shop and play in it, in the run-up to hosting UK City of Culture in 2021.” Coventry Society heartily agrees. There’s been a stony silence since Coun O’Boyle’s outburst over the listing of our pioneering pedestrian precinct. Can it be that there’s a re-think in the offing over the historical importance of this heritage asset? We can mince words about more floor space for chain stores in the Upper Precinct. Some even still cling to the hope that John Lewis will come to our high street. But remember, retailers come and go. C&A Modes, the Heart of England Co-op, Owen Owen, the British Home Stores, to mention a few. The constant is our infrastructure. The quality of it. The legacy from our past whether it’s our medieval Guildhall, Victorian Drapers’ Hall or our ground-breaking city centre constructed in the Festival of Britain era. It’s universally acknowledged as a classic piece of town planning. Donald Gibson’s amazing car-free vision. Knock it about once again and the whole essence of that vision will be depleted. It’s been tinkered with for many years and lost important features.

Can we afford to see more significant changes to its design and fabric? We maintain it’s time to restore and celebrate it as we approach the City of Culture. Our fifties city centre, Broadgate and the Upper Precinct, are iconic, visionary and internationally renowned. Why serve the short term needs of out-of-town developers and transient chain stores now? There will be no second chance, “when it’s gone, it’s gone.”

Keith Draper

Coventry Society

Trust must be getting big slice of revenue

I would like to make the following comments on the article.

1) UHCW spokes person states that the car parking is a PFI issue and nothing to do with the trust.

2) the same person states if we don’t increase the parking fees we will have to take money from budgets meant for patient care.

3) this trust charges staff to park on site or work place parking.

4) visiting one hour if you visit the elderly / sick or terminally ill you spend time looking for a a space then you queue to pay or have to look for a terminal that’s working your one hour visit is two hours parking minimum.

5) who in their right mind says lets got shopping @ the hospital with it car parking problems you go to hospital / out patients because you are ill and some times you are not not up to public transport a taxi from my house is £12:50 pence each way. The trust must get a very nice slice of this cake as they hold a captive audience.

Geoffrey Ferris

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