Millard Properties: Locations and Ownership

[SnooperDuper]

Sweet deal for the airport. $47,000 more a year on lease fees, plus fuelling and landing fees. They should be getting their investment back in no time.

JMO

So which is it anyway?

Regional councillors voted Wednesday to approve the deal. Millardair owned the hangar but the region owns the land it's built on and had to give the OK for the sale of the hangar to Penmore Holdings.

http://www.thespec.com/news-story/5537089-region-of-waterloo-lands-new-tenant-for-millardair-hangar/

The sale of the lease of the former Millard Air hangar to Chartright brings to an end a nearly two-year search for a new tenant for the building.

http://www.cbc.ca/news/canada/kitch...akes-over-former-millard-air-hangar-1.3019314


"There was interest by more than one party," said Rob Horne, commissioner of planning, housing and community services. "It's a vote of confidence in the regional economy...let alone the airport."

http://www.therecord.com/news-story/5537088-region-lands-new-tenant-for-millardair-hangar/

"There are very few companies that can utilize the sheer size and height of that structure," Wood said. "I would think that would be what took the most time. There's a limited number of people who can use it."

http://www.cbc.ca/news/canada/kitch...akes-over-former-millard-air-hangar-1.3019314

 

[Carli]

So which is it anyway?

Regional councillors voted Wednesday to approve the deal. Millardair owned the hangar but the region owns the land it's built on and had to give the OK for the sale of the hangar to Penmore Holdings.

http://www.thespec.com/news-story/5537089-region-of-waterloo-lands-new-tenant-for-millardair-hangar/

The sale of the lease of the former Millard Air hangar to Chartright brings to an end a nearly two-year search for a new tenant for the building.

http://www.cbc.ca/news/canada/kitch...akes-over-former-millard-air-hangar-1.3019314


"There was interest by more than one party," said Rob Horne, commissioner of planning, housing and community services. "It's a vote of confidence in the regional economy...let alone the airport."

http://www.therecord.com/news-story/5537088-region-lands-new-tenant-for-millardair-hangar/

"There are very few companies that can utilize the sheer size and height of that structure," Wood said. "I would think that would be what took the most time. There's a limited number of people who can use it."

http://www.cbc.ca/news/canada/kitch...akes-over-former-millard-air-hangar-1.3019314

Massively emphatic thanks for the great leads, Snooper.

Skoosie for now. Gone fishin'.

 

[Alethea Dice]

So which is it anyway?

Regional councillors voted Wednesday to approve the deal. Millardair owned the hangar but the region owns the land it's built on and had to give the OK for the sale of the hangar to Penmore Holdings.

http://www.thespec.com/news-story/5537089-region-of-waterloo-lands-new-tenant-for-millardair-hangar/

The sale of the lease of the former Millard Air hangar to Chartright brings to an end a nearly two-year search for a new tenant for the building.

http://www.cbc.ca/news/canada/kitch...akes-over-former-millard-air-hangar-1.3019314


"There was interest by more than one party," said Rob Horne, commissioner of planning, housing and community services. "It's a vote of confidence in the regional economy...let alone the airport."

http://www.therecord.com/news-story/5537088-region-lands-new-tenant-for-millardair-hangar/

"There are very few companies that can utilize the sheer size and height of that structure," Wood said. "I would think that would be what took the most time. There's a limited number of people who can use it."

http://www.cbc.ca/news/canada/kitch...akes-over-former-millard-air-hangar-1.3019314

Seems like it's anybody's guess. When I first read it, I thought both. They sold the lease and the hangar. In the actual airport announcement it simply says:

Effective April 1, 2015 Regional Council approved Penmore Holdings Inc. request to assume the lease of the hangar owned and operated by Millard Properties Limited.

http://www.waterlooairport.ca/en/newslist/index.aspx?corpId=gzyzez7QxwumqjwReGz9VgeQuAleQuAl&newsId=i52UZ5lA5HLr92zhurNRq1BvcgeQuAleQuAl

So maybe they are leasing the hangar as well. If they didn't buy it too.

Of course the airport would need to approve selling the lease since the hangar is on airport land and they would have the approval for whatever kind of business went in there. But I can't imagine that MillardAir would just give them a $6.4 million hangar along with the lease. The Spec article says both:

Toronto-based Penmore Holdings Inc. is taking over the remaining 46 years on the massive Millardair hangar lease at the Region of Waterloo International Airport.

and..

Millardair owned the hangar but the region owns the land it's built on and had to give the OK for the sale of the hangar to Penmore Holdings.

http://www.thespec.com/news-story/5537089-region-of-waterloo-lands-new-tenant-for-millardair-hangar/

So maybe the sale of the hangar was conditional on the airport accepting the sale of the lease.

 

[Tamarind]

So which is it anyway?

Regional councillors voted Wednesday to approve the deal. Millardair owned the hangar but the region owns the land it's built on and had to give the OK for the sale of the hangar to Penmore Holdings.

http://www.thespec.com/news-story/5537089-region-of-waterloo-lands-new-tenant-for-millardair-hangar/

The sale of the lease of the former Millard Air hangar to Chartright brings to an end a nearly two-year search for a new tenant for the building.

http://www.cbc.ca/news/canada/kitch...akes-over-former-millard-air-hangar-1.3019314


"There was interest by more than one party," said Rob Horne, commissioner of planning, housing and community services. "It's a vote of confidence in the regional economy...let alone the airport."

http://www.therecord.com/news-story/5537088-region-lands-new-tenant-for-millardair-hangar/

"There are very few companies that can utilize the sheer size and height of that structure," Wood said. "I would think that would be what took the most time. There's a limited number of people who can use it."

http://www.cbc.ca/news/canada/kitch...akes-over-former-millard-air-hangar-1.3019314

Chartright were in Hangar 3 at Derry Road it seems. Millardair was at hangar 5, I seem to recall.
Probably knew WM pretty well. They apparently have a large fleet of jets and carry out MRO. I don't see a mention of helicopters on their main website. Maybe they are combining both types of business. Penmore Holdings ? seem into wealth management and estate planning :thinking:

http://kitchener.ctvnews.ca/chartri...ormer-millard-air-hangar-councillor-1.2310027

A second party was also interested and the hangar and may choose to build elsewhere at the airport, Coun. Tom Galloway told CTV News.

The deal closes later this month.

'Once that happens, Chartright will move some of its operations, including a helicopter service centre, from a hangar in Toronto.'


They also have a helicopter service centre. Looks like they plan on doing what WM had planned to do.

 

[Carli]

So does this make it impossible for DM to commit murder against three people? People who stood in his way from getting what he wanted? I fail to see your point. Unless DM and WM competed in a friendly manner way back when it was all talk after CM passed away. Talk about whether the hangar was going to be for servicing planes or a helicopter business. WM got what he desired and it wasn't such a friendly competition nor was there any cooperation on DM's part? MOO.

With all due respect, swedie, I think we may be approaching on a different tack altogether. Come to think of it, from a sailor's perspective, we may not even be heading for the same destination. LOL. All of which is just a diplomatic way of saying I haven't the slightest understanding about what you're trying to say. Sorry. MOO.

MOO. IMHO.

Just to haul the whole thing in to perspective, do we all understand exactly how much money has been hanging in the balance here? Do we all understand exactly what certain people are prepared to do in order to secure some or all of that uninterrupted cash flow? Golly I hope so, because without that direct and full understanding I gravely doubt it will be possible to get to the root of the terrible event that has transpired. "As plain as the nose on your face." What is that reference? Does DM himself actually know the facts? At this point, tell you what, I doubt it although I think he may have some inklings especially now that the province have cranked over into high secrecy, high protection mode. IMO. IMHO.

 

[Alethea Dice]

Hmmm, or I guess it could all depend on how much they sold the lease for. Enough to give up the hangar in the deal?

If you "assume" a lease, can the rent go up that much for the new tenant???

 

[Alethea Dice]

Chartright were in Hangar 3 at Derry Road it seems. Millardair was at hangar 5, I seem to recall.
Probably knew WM pretty well. They apparently have a large fleet of jets and carry out MRO. I don't see a mention of helicopters on their main website. Maybe they are combining both types of business. Penmore Holdings ? seem into wealth management and estate planning :thinking:

Hangar 3 and Corporate offices are in Hangar 6. But I see helicopter services on their website.

 

[Carli]

Hmmm, or I guess it could all depend on how much they sold the lease for. Enough to give up the hangar in the deal?

If you "assume" a lease, can the rent go up that much for the new tenant???

Has anybody been able to sleuth up the original lease agreement? I'm having a bit of trouble understanding how we can just cancel a lease, regardless of the "misbehavior" of the principals, so long as the terms of the lease have been observed. (Timely payments, etc.).

If MillardAir built the wholly owned hangar on the leased land I certainly doubt that the land lessors could claim that capital property. If the bank and/or various government agencies were involved in providing mortgages/loans for the construction and payments were not up to date, I suppose any of the above could seize the asset.

Aargh. Totally complicated.

Where's MB in all this? Isn't she supposed to be keeping the whole ship on an even keel? (Then again, how could she? Corp exec miracle worker is hardly her expertise.)

I have to say, at the end of the day, I certainly hope the much maligned Hamilton LE have a case that sticks. Otherwise, quite apart from the emotional and highly personal issues that could remain unresolved, the citizens of Ontario will have a heck of a bill to pay. MOO. IMHO.

 

[Alethea Dice]

Has anybody been able to sleuth up the original lease agreement? I'm having a bit of trouble understanding how we can just cancel a lease, regardless of the "misbehavior" of the principals, so long as the terms of the lease have been observed. (Timely payments, etc.).

If MillardAir built the wholly owned hangar on the leased land I certainly doubt that the land lessors could claim that capital property. If the bank and/or various government agencies were involved in providing mortgages/loans for the construction and payments were not up to date, I suppose any of the above could seize the asset.

Aargh. Totally complicated.

Where's MB in all this? Isn't she supposed to be keeping the whole ship on an even keel? (Then again, how could she? Corp exec miracle worker is hardly her expertise.)

I have to say, at the end of the day, I certainly hope the much maligned Hamilton LE have a case that sticks. Otherwise, quite apart from the emotional and highly personal issues that could remain unresolved, the citizens of Ontario will have a heck of a bill to pay. MOO. IMHO.

They don't actually "cancel" the lease. They sell it and the new tenant "assumes" it, with the airport approval. I would have thought it was like sub-letting an apartment, but on a much larger scale. The original lease (according to reports) was for 50 years at $19,000 per year. The new tenants are paying about $66,000 per year. How does that happen? Did the airport buy the hangar and the new $66,000 rent covers both? I would think if nothing was coming to MillardAir for it, they would have the choice of tearing it down, like in Toronto, if they didn't get a good enough offer.

 

[Carli]

They don't actually "cancel" the lease. They sell it and the new tenant "assumes" it, with the airport approval. I would have thought it was like sub-letting an apartment, but on a much larger scale. The original lease (according to reports) was for 50 years at $19,000 per year. The new tenants are paying about $66,000 per year. How does that happen? Did the airport buy the hangar and the new $66,000 rent covers both? I would think if nothing was coming to MillardAir for it, they would have the choice of tearing it down, like in Toronto, if they didn't get a good enough offer.

OK thanks, that makes abundant sense - and may I say an uptick 47 thousand smackers per year sounds like a good deal in this day and age. I'd have to go into deep google but as I recall the hangar was deeply debt encumbered (which would have seemed like a smart move at the time) but now I rather doubt that would represent a very good deal. At the same time, we also now have a (relatively) brand new and well equipped building so tearing it down just for the halibut seems kind of stupid. Hmmm. Conundrum. Methinks we need smart people here. MOO. IMHO. (Oh yes, and not to forget, when trying to get to the bottom of your plain vanilla murder, the question is always "who benefits". So all this rooting about in the affairs of the Kitch/Wat expansion is not exactly aimless IMO. IMHO.

 

[Tamarind]

OK thanks, that makes abundant sense - and may I say an uptick 47 thousand smackers per year sounds like a good deal in this day and age. I'd have to go into deep google but as I recall the hangar was deeply debt encumbered (which would have seemed like a smart move at the time) but now I rather doubt that would represent a very good deal. At the same time, we also now have a (relatively) brand new and well equipped building so tearing it down just for the halibut seems kind of stupid. Hmmm. Conundrum. Methinks we need smart people here. MOO. IMHO. (Oh yes, and not to forget, when trying to get to the bottom of your plain vanilla murder, the question is always "who benefits". So all this rooting about in the affairs of the Kitch/Wat expansion is not exactly aimless IMO. IMHO.

Penmore Holdings, this appears to be the company in whose trust Chartright is now entrusted ! :shush: Trusts being very helpful on the business front, as in keeping things safely locked inside. IMO. Chartright seems to have become quite a large company from its smaller beginnings, it even has a base in Russia according to its website and an employee on a forum. I wonder why Russia and not say... Spain! Do we know who the owner of this company (Chartright) is that has bought the Millardair hangar?

 

[Carli]

Penmore Holdings, this appears to be the company in whose trust Chartright is now entrusted ! :shush: Trusts being very helpful on the business front, as in keeping things safely locked inside. IMO. Chartright seems to have become quite a large company from its smaller beginnings, it even has a base in Russia according to its website and an employee on a forum. I wonder why Russia and not say... Spain! Do we know who the owner of this company (Chartright) is that has bought the Millardair hangar?

Oh yeah. Trusts be awfully useful. (Well I mean, how would I know -LOL - but thats what the smart money sez). Got linx on this stuff?

<modsnip>

 

[SnooperDuper]

They don't actually "cancel" the lease. They sell it and the new tenant "assumes" it, with the airport approval. I would have thought it was like sub-letting an apartment, but on a much larger scale. The original lease (according to reports) was for 50 years at $19,000 per year. The new tenants are paying about $66,000 per year. How does that happen? Did the airport buy the hangar and the new $66,000 rent covers both? I would think if nothing was coming to MillardAir for it, they would have the choice of tearing it down, like in Toronto, if they didn't get a good enough offer.

They haven't posted the minutes/video for Apr 1 yet http://www.regionofwaterloo.ca/en/regionalGovernment/councilminutesagenda.asp but anything to do with property or lawyers is done in camera anyway

All meetings are open to the public with the exception of those dealing with personnel, property acquisition, litigious or MFIPPA (Municipal Freedom of Information and Protection of Privacy Act) matters.

I understand the lease has been assumed by the new guys, I am just wondering if that also means the hangar has been sold to them (April 24 when the deal closes). It sounds to me that switching the lease over was a last consideration for the sale of the hangar, which hasn't officially gone through yet.

I wonder if this deal will clear things up for DM to go ahead and retain DP and RP, or if all of these proceedings have been in camera because they all deal with property issues.

Well I guess DM is all ready to jet off to Guadeloupe and lay low for a while if the charges are all a hoax against him.

 

[Tamarind]

They haven't posted the minutes/video for Apr 1 yet http://www.regionofwaterloo.ca/en/regionalGovernment/councilminutesagenda.asp but anything to do with property or lawyers is done in camera anyway



I understand the lease has been assumed by the new guys, I am just wondering if that also means the hangar has been sold to them (April 24 when the deal closes). It sounds to me that switching the lease over was a last consideration for the sale of the hangar, which hasn't officially gone through yet.

I wonder if this deal will clear things up for DM to go ahead and retain DP and RP, or if all of these proceedings have been in camera because they all deal with property issues.

Well I guess DM is all ready to jet off to Guadeloupe and lay low for a while if the charges are all a hoax against him.

Hoax? Thats an interesting word isn't it? A hoax would possibly mean that it's all a joke?

''hoax
noun
a trick or fraud, esp. one meant as a practical joke''
http://www.yourdictionary.com/hoax

I see nothing even vaguely humourous about any of this, JMO.

 

[Carli]

Here's the CBC offering a few more insights into the deal.

http://www.cbc.ca/news/canada/kitch...akes-over-former-millard-air-hangar-1.3019314

Interesting that they note "The hangar made headlines when police discovered a cache of stolen auto parts within its walls in May 2013, following Millard's arrest in connection to the murder of Tim Bosma... etc" Does this mean the CBC has determined that charges will be laid re the "chop shop" or is somebody just being creative? I think we've discussed those "hundreds" of stolen vehicles - make that "up to" ten - would you believe one motorcycle - enterprise, most, if not all of which were subsequently sold on kijiji. But the CBC article says "parts" so maybe that's it although I don't recall if LE has ever mentioned anything so specific. In any case, I don't actually think that the hangar made headlines because of either imaginary or real stolen auto parts. Just MOO.

 

[swedie]

Here's the CBC offering a few more insights into the deal.

http://www.cbc.ca/news/canada/kitch...akes-over-former-millard-air-hangar-1.3019314

Interesting that they note "The hangar made headlines when police discovered a cache of stolen auto parts within its walls in May 2013, following Millard's arrest in connection to the murder of Tim Bosma... etc" Does this mean the CBC has determined that charges will be laid re the "chop shop" or is somebody just being creative? I think we've discussed those "hundreds" of stolen vehicles - make that "up to" ten - would you believe one motorcycle - enterprise, most, if not all of which were subsequently sold on kijiji. But the CBC article says "parts" so maybe that's it although I don't recall if LE has ever mentioned anything so specific. In any case, I don't actually think that the hangar made headlines because of either imaginary or real stolen auto parts. Just MOO.

BBM - Yes we have, at least a few times. And yes it is interesting to note reports in the MSM are still suggesting STOLEN property found within the hangar. Guess we will have to wait until trial to find out for certain what LE found, claiming to be stolen vehicles/parts. Ironic MM had his HD listed on Kijiji just as TB had done with his truck. Both vehicles found on properties with connection to DM. MOO.

I honestly don't believe anyone is debating on the number of vehicles, just the point there were STOLEN vehicles and/or parts. To suggest there had only been stolen parts and/or under ten vehicles, the accused should be excused? Or is it to make a mockery out of LE for stating what they found or the way the press reported it? I'm just not sure what the point here is. Again IMO one stolen vehicle is one too many. The two vehicles (HD and trailer) could have been sitting in the hangar since the fall of 2012, right around the time WM died. I have to wonder if WM knew what was going on in the hangar and voiced his concern. JMO.

Hamilton police confirmed Thursday they're investigating multiple stolen vehicles and parts found inside the massive Breslau hangar.
o
One of the vehicles was a $35,000 Harley Davidson motorcycle advertised on Kijiji last fall. The bike was MM's and it sat inside his trailer when both were stolen from the driveway behind his home...

Bosma had also advertised his truck for sale online, including on Kijiji.

"I can confirm that the motorcycle written about was recovered in the hangar by the Hamilton police. There were a number of vehicles and/or parts found in the hangar and this remains under investigation," Constable Debbie McGreal-Dinning said in an email.

Police say they're still trying to track down owners of the discovered vehicles, putting the number found at fewer than 10.

The description of vehicles dismantled, repainted and having serial numbers ground away fits with a "typical chop shop," said Waterloo Regional Police Inspector Kevin Thaler.

http://www.thespec.com/news-story/3250204-murder-suspect-s-waterloo-hangar-set-up-as-chop-shop-/

 

[Juballee]

At the time it may have fit with 'a typical chop shop', but then we have seen the vehicles in question get sold on Kijiji, which I doubt that the Millard's would have been allowed to do if it had turned out that these were stolen vehicles, so I really think that puts the whole chop shop theory to rest. I would also like to think that if LE had a reason to add extra charges to DM for the theft of all those vehicles they would have done so by now, in my opinion.

 

[SnooperDuper]

At the time it may have fit with 'a typical chop shop', but then we have seen the vehicles in question get sold on Kijiji, which I doubt that the Millard's would have been allowed to do if it had turned out that these were stolen vehicles, so I really think that puts the whole chop shop theory to rest. I would also like to think that if LE had a reason to add extra charges to DM for the theft of all those vehicles they would have done so by now, in my opinion.

You only need one dismantled stolen vehicle to turn a garage into a chop shop.

 

[Carli]

You only need one dismantled stolen vehicle to turn a garage into a chop shop.

True, but as I recall the Harley was allegedly stolen in October and discovered the following May. Some chop shop! LOL. MOO One could only wish that Toronto LE had developed a similar tracking program to seek out missing persons, such as LB and others, that was used to successfuly find Marty's bike and trailer. (I wonder why they didn't chop the trailer.)

 

[swedie]

At the time it may have fit with 'a typical chop shop', but then we have seen the vehicles in question get sold on Kijiji, which I doubt that the Millard's would have been allowed to do if it had turned out that these were stolen vehicles, so I really think that puts the whole chop shop theory to rest. I would also like to think that if LE had a reason to add extra charges to DM for the theft of all those vehicles they would have done so by now, in my opinion.

Certainly I can see CM's collection and DM's toys being sold on Kijiji. I agree, I highly doubt the vehicles sold on kijiji would have been those LE suggested as stolen. That's just common sense IMO. Don't forget DM has been charged with theft over $5000. I realize that charge was one of the initial charges and in conjunction to TB's truck but it may also apply to the chop shop. AGAIN...more charges can be applied prior to trial. Just because it's not in the MSM at this time, doesn't mean it won't happen. I guess when someone is facing the remainder of their life in prison, theft charges are peanuts. MOO.

Are we to assume Inspector KT was only speaking of MM's HD in this statement? Should we assume DM was chopping his grandfather's collection and grinding serial numbers off of parts and repainting? If they were DM's toys, why grind serial number away? KT spoke of vehicleS. TWT and MOO.

The description of vehicles dismantled, repainted and having serial numbers ground away fits with a "typical chop shop," said Waterloo Regional Police Inspector Kevin Thaler.