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Norton Motorcycles Acquires Donington Hall

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Norton Motorcycles Acquires Donington Hall

Postby swooshdave » Thu Mar 14, 2013 9:11 am

Norton Motorcycles has purchased the Donington Hall estate from British Airways including the Hall and its surrounding 25 acre grounds and the modern 45,000 sq ft Hastings House facility.

British Airways acquired Donington Hall and its’ surrounding 25 acre grounds as part of its deal to takeover Bmi in April 2012.

Stuart Garner, CEO of Norton Motorcycles, said “Donington Hall conjures up a uniquely British way to show style, strength and quality which are all great attributes of the Norton brand. However, beyond the drama and romance of Donington Hall is a thoroughly modern 45,000 sq ft building (Hastings House) which will become the new Norton Motorcycles production facility and design offices. It became clear some time ago that we had outgrown our current location, to be able to move less than a mile down the road to an outstanding facility like Donington Hall is ideal. It will allow Norton to grow our manufacturing business with focus on ‘built in Britain by British hands’, export growth and job creation”.


http://www.nortonmotorcycles.com/news/n ... gton-hall/

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Re: Norton Motorcycles Acquires Donington Hall

Postby worntorn » Thu Mar 14, 2013 9:52 am

Mark Twain's famous quote " the reports of my death were an exaggeration" fits nicely here.

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Re: Norton Motorcycles Acquires Donington Hall

Postby 79x100 » Thu Mar 14, 2013 1:31 pm

Could Donington Hall be the new Umberslade Hall ? :roll:
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Re: Norton Motorcycles Acquires Donington Hall

Postby BillT » Thu Mar 14, 2013 1:35 pm

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Re: Norton Motorcycles Acquires Donington Hall

Postby Matt Spencer » Thu Mar 14, 2013 6:34 pm

Wonder if we're invited to Tea .

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Re: Norton Motorcycles Acquires Donington Hall

Postby MarshalNorton » Fri Mar 15, 2013 1:35 pm

Now if I could only afford a new Norton on a civil servant's salary.
Then my aging frame probably wouldn't let me enjoy it to the extent of a young'n.
Excuses excuses i just can't afford anything newer than a 1972 :roll:
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Re: Norton Motorcycles Acquires Donington Hall

Postby swooshdave » Fri Mar 15, 2013 2:15 pm

MarshalNorton wrote:Now if I could only afford a new Norton on a civil servant's salary.
Then my aging frame probably wouldn't let me enjoy it to the extent of a young'n.
Excuses excuses i just can't afford anything newer than a 1972 :roll:
Marshal


At the rate that Commandos are going you could sell yours and get a new one.
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Re: Norton Motorcycles Acquires Donington Hall

Postby Rohan » Fri Mar 15, 2013 3:37 pm

No-one has yet explained where the £££ required for this has come from ?
£6m is the price being bandied about.
If they are struggling to pay suppliers, where has this secret stash come from....

As someone said, Mr Bloor started in real estate, and went into motorcycles.
Mr Garner seems to have started in motorcycles, and gone into real estate.
Somewhat divergent business plans ?

Be a cool place for the Gathering of the Nortons though....

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Re: Norton Motorcycles Acquires Donington Hall

Postby worntorn » Fri Mar 15, 2013 3:45 pm

The price is right at least.
Seems a lot of building and land for about 9 million $, but then I am used to overinflated Vancouver Real Estate prices.
For the price he gets the lovely new 45,000 square foot facility plus the even lovelier old Donington Hall with 25 acres of land that must have at least some commercial designation.
I hate to think what all of this would be worth here in Vancouver, but my guess is somewhere around 200 million.
If he can generate rental income from the hall and possibly also rent out some of the new 45,000 sq. Ft building, he might get enough cash flowing to keep the Nortons coming!

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Re: Norton Motorcycles Acquires Donington Hall

Postby mike996 » Fri Mar 15, 2013 8:35 pm

The maintenance on such a property is immense. NO company would buy such a property as part of their manufacturing effort - they would lose their A$$ in no time at all. There is something else going on; I'd bet they won't own it long (and never planned to).
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Re: Norton Motorcycles Acquires Donington Hall

Postby swooshdave » Fri Mar 15, 2013 8:40 pm

Garner added, “We have worked with our local authorities and politicians to put the project together, special thanks go to N W Leicestershire Council and Andrew Brigden MP. We are also working with LLEP [Leicester and Leicestershire Enterprise Partnership] to put together our job creation and export growth plans, by working with LLEP we are able to put together a Regional Growth Fund application to enable further funding to help accelerate our growth plans and bring more job creation to the area as soon as possible”. We must also thank ASC Commercial Finance Nottingham for helping Norton arrange the best commercial funding for the purchase.


I sense a lot of tax breaks and incentives helped out the purchase. It's not like Norton had to go in there with £6m cash...
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Re: Norton Motorcycles Acquires Donington Hall

Postby hobot » Fri Mar 15, 2013 8:54 pm

PR and write off make sense, converting ancient mansion and grounds into manufacturing facility is just plain silly - unless just a few one offs produced now and then. Garner does knows real estate values though.
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Re: Norton Motorcycles Acquires Donington Hall

Postby worntorn » Fri Mar 15, 2013 9:33 pm

The ancient mansion has already been converted to offices. It was the HQ of BMI from 82 on.
The manufacturing will be done at Hastings house, a new 45,000 sq ft building that is on the property.
See the original post and link. Why do the Brits know how to make a warehouse look like a Castle?
Our commercial/warehouse buildings are all concrete tilt ups-serviceable, cheap and hideous.

Again, 6 million pounds for this much building and land is very cheap. The new building alone is worth more than that. By local comparison, neighbour just sold her parents old house in Vancouver- a tear down 50s house on a 1/4 acre lot - 4.2million!

I don't know how much Garner paid for Norton but I'll bet it was a lot less than the 11 million that various investors had poured into Dreers effort. Garner's purchase of this property is likely also an opportune one.
He is a very clever man.

Glen
Last edited by worntorn on Fri Mar 15, 2013 10:18 pm, edited 1 time in total.

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Re: Norton Motorcycles Acquires Donington Hall

Postby hobot » Fri Mar 15, 2013 10:09 pm

I did not read past the few paragraphs so didn't realize it was already converted to offices and on site shop. I hope its a bargain for Norton and not a big white elephant. Its pretty cool if Garner can pull it off in the long run.
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Re: Norton Motorcycles Acquires Donington Hall

Postby L.A.B. » Sat Mar 16, 2013 3:11 am

hobot wrote:I did not read past the few paragraphs so didn't realize it was already converted to offices and on site shop. I hope its a bargain for Norton and not a big white elephant.


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