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Developer sold Boleyn Ground for £19m profit

Accounts for a company called Boleyn Phoenix Limited appears to suggest that Galliard Homes sold the Boleyn Ground land for a £22m mark on the £38m they paid West Ham. The Boleyn Phoenix hopefully owned by Galliard shows revenue of nearly £60m with the cost of sales of £40m.

After spending £38m on the land, Galliard spent another £3m on planning, project management and fees to record a profit of £19m for the transaction. West Ham recorded a £8m profit in their recent financial accounts.

Barratt London bought the land from Galliard and are busy developing the site into an 832 home site including social housing.

A source close to the club said: Galliard didn’t fancy the development but property prices have gone up big time in two years Galliard held the property so whatever they bought would have gone up. They have interest, legals and other costs. The second highest bid was £30m when we offered the ground to the market.”

Accounts for Boleyn Phoenix Ltd can be found at https://beta.companieshouse.gov.uk/company/08869033/filing-history

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About Sean Whetstone

I am Season Ticket Holder in West stand lower at the London Stadium and before that, I used to stand in the Sir Trevor Brooking Lower Row R seat 159 in the Boleyn Ground and in the Eighties I stood on the terraces of the old South Bank. I am a presenter on the West Ham Podcast called MooreThanJustaPodcast.co.uk. A Blogger on WestHamTillIdie.com a member of the West Ham Supporters Advisory Board (SAB), Founder of a Youtube channel called Mr West Ham Football at http://www.youtube.com/MrWestHamFootball, I am also the associate editor here at Claret and Hugh. Life Long singer of bubbles! Come on you Irons! Follow me at @Westhamfootball on twitter

4 comments on “Developer sold Boleyn Ground for £19m profit

  1. Good start but you need to look at the ownership of BP for more.

    • Is it the Spurs connection? I know the sole director of Mount Pleasant Development is Vince Goldstein who co-founded Rock Investments with Paul Kemsley who was once Vice Chair of Spurs. Is that the link you were trying to hind at?

  2. Only two shareholders Gallaird homes and Mount Pleasant Development.

    Email me more clues at mrwesthamfootball@gmail.com if there is a story behind the story.

  3. so very very depressing .
    Our spiritual home sold for peanuts…
    Absolute disgrace.makes me feel sick in my stomach
    No true West Ham fan would’ve done what Brady Gold and Sullivan have done .
    I always used to get excited to go to Upton Park ..Ive dragged my heels going to see this club called West Ham London.

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