Burderop park sell off?? and Halcrow pension scheme to Govt Pension Authority?

[Jerry Neville]

We have heard an unsubstantiated rumour re the above.


Has anyone else heard anything?


Regards   Jerry

[John Ratsey]

There's plenty of substance behind the rumour about the BP sale.

The intention is to sell Burderop Park and then lease back the areas that are needed, to better suit the business needs (I understand that about half of the office space is empty) and also dispose of the full burden of managing the Burderop Park estate.

It's part of the campaign to reduce overheads which, if successful, should mean that there's a bit more cash left in the money box to fund the pension deficit.

There's no intention to not have an office in the area. Should CH2M find a purchaser who wants the whole of BP without the leaseback then they would rent other office space in the Swindon area (there's plenty available although Princes House has become a Travelodge Hotel.

[John Ratsey]

On a related subject, if anyone wants to revisit the mansion then see the attached poster about a Christmas Market on 28th November which was sent out yesterday by the Pensions Team.

[finneyb]

It's part of the campaign to reduce overheads which, if successful, should mean that there's a bit more cash left in the money box to fund the pension deficit.

I think CH2M will want the £30M loan repaying first and then want to recover their purchase price before HPS sees anything but the agreed contributions.

[John Ratsey]

I've heard on the grapevine that a purchaser for BP has been found and a deal agreed which includes the ability to lease back the space currently needed for at least three years and solicitors have been instructed to proceed.

[John Ratsey]

The new owner of Burderop Park is City and Country. CH2M Hill have a 5 year lease on the pavilions and some associated buildings and facilities.

it will be interesting to see what the new owner creates from their acquisition.

[Donald Holliday]

This is the end of an era!
I joined Halcrow in the early days of Burderop Park because I did not want to work in London; but Vineyard House carried on regardless and only grew bigger and stronger!
In those days we were run by engineers, not financiers.
I will always remember the summer garden parties with fireworks.
A very sad day for us all.

[Jane Tordoff]

It is certainly a sad day for all who worked at BP.  We also came to Swindon because we did not to work and could not afford to live in London. I remember when I was on Staff Council being asked why the summer garden parties were continuing when Halcrow was going through a rough time in the 90's.  The response from the Main Board was that they would continue as it was a moral booster.  In those days they cared about the staff but in latter years this was not the case.  All they cared about was money and they got that wrong!! 

Those who worked for many years at BP probably have many fond memories of our time there.

[John Ratsey]

It appears that the new owner is trying to rent out the empty buildings as office space. Read the brochure at http://loveday.uk.com/wp-content/uploads/2015/06/Burderop-brochure-with-avail-sch3.pdf.