First Group to be split and sold off.

Vehicle and Fleet discussions for First Midland Red Buses Limited or its predecessor, Midland Red West Limited.
TimBrown
Posts: 604
Joined: 05:59 Monday 4th July 2016
Location: Worcester

Re: First Group to be split and sold off.

Post by TimBrown » 11:07 Monday 22nd July 2019

Thanks for setting my misconceptions straight!

TimBrown
Posts: 604
Joined: 05:59 Monday 4th July 2016
Location: Worcester

Re: First Group to be split and sold off.

Post by TimBrown » 13:20 Monday 22nd July 2019

TimBrown wrote:
11:07 Monday 22nd July 2019
Thanks for setting my misconceptions straight!
Meanwhile this report appeared in the Business & Money supplement of The Sunday Telegraph yesterday Sunday 21 July 2019. Yet another twist in the tale!
Insurance increase on Greyhound fleet 001.jpg

DD12
Posts: 1106
Joined: 19:49 Monday 4th July 2016

Re: First Group to be split and sold off.

Post by DD12 » 16:31 Monday 22nd July 2019

Thanks everyone for the info above !

There's almost as much to consider as Brexit !! -- -- I would not want to be on the board of First Group at the moment !!

winston
Posts: 20
Joined: 23:38 Tuesday 27th June 2017

Re: First Group to be split and sold off.

Post by winston » 19:28 Wednesday 24th July 2019

AdamH wrote:
20:43 Sunday 21st July 2019
All owned by First. The land that is now the bus park was acquired in the 1960s by BMMO to build a new depot to replace both Padmore Street and East Street sites, but there were problems with planning due to a proposed road expansion. By the time that was sorted bus usage was on the decline and the plan never went ahead.
Hmm, must have dreamt that bit then.

Thought I read it on here at some point.

Reddibus
Posts: 8
Joined: 18:46 Tuesday 22nd January 2019

Re: First Group to be split and sold off.

Post by Reddibus » 20:26 Wednesday 24th July 2019

With regards to the garage sites. In 1986 when Midland Red (West) Ltd was privatised a second new company was formed called Midland Red West Holdings Ltd and that owned everything including the vehicles and garage sites. This Company took on the garages at Hereford, Worcester, Redditch (the two sites), Evesham and Kidderminster.. It did not take the Bromsgrove garage site which was being used for vehicle storage. Before Midland Red Coaches joined there were plans to base the Midwest Coaching unit there. The company had also moved into Heron Lodge which they certainty owned a number of years latter if not from the start as the up stairs it was sub let to the property arm of First group.

At Worcester they owned the Garage and the whole of the patch including where the Aldi supermarket is now. One of the first acts of the new Midland Red West Holdings company was to sell the land where the supermarket is today only to realise it was sold too cheaply and then attempted to buy it back without any success!.

Once Midland Red West joined Badgerline and latter First group the parent company went around buying any land up around their garage sites all over the country . For example in Redditch they purchased the for employment offices in Church Road which were next to the garage. They latter went on to resell them for use a doctors surgery. The aim was by land assembly some of the garage sites would become more valuable and could be sold off like what happened at Evesham where they purchased the old dairy site which had been in days gone by been part of the garage and the group managed to sell the whole site for redevelopment

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