NOM

https://www.standard.co.uk/business/mor ... 83950.html

At first glance I had the impression the church was buying an operating Amazon hub, but I guess it's a warehouse that Amazon is decommissioning? I'm still not quite sure. Does this purchase have any kind of significance besides another example of the LDS corporation using the gold and silver of charities to buy up huge tracts of land, armies and navies, false priests who oppress and tyrants who destroy.

It will be interesting to see what they do with it. They could use it as a giant bishop's storehouse for Europe or they could use it to generate even more meaningless wealth for the pile.

I am finding conflicting reports.

MSN says that it was purchased via one of LDSinc's property investment companies.
https://www.msn.com/en-ie/money/other/m ... r-AA1bIPIk

But other news outlets are saying it was part of their charitable property use companies.
https://www.standard.co.uk/business/mor ... 83950.html

So it isn't clear what their intention is at the moment. However, I'm sure it will clear up in the next few weeks.

Right now, warehouses are a big growth business. One of the things to come out of the pandemic is that distribution and logistics are growing by huge amounts to keep up with demand.

I work in Hagerstown, MD. This town has the intersection of I-70 and I-81, one of the biggest east-west shipping corridors and one of the largest north-south shipping corridors on the east coast. you could call this town the cross roads of the eastern US. We have several dozen major distributors that feed the mid-Atlantic. We already have 1 amazon DC. They just opened a 2nd, and they are building a 3rd just down the street from where I work. There are a half dozen big warehouses being built at the moment. Half don't have tenants yet, but they are expecting them to fill by the time they are complete.

For a large real estate developer, getting into warehousing is the trendy thing these days. There is big money in it. Of course, it does beg the question when will this market settle down and could we potentially have a bubble in the warehouse real estate market in the next few years? We are already seeing a major drop in common commercial real estate. I saw something over the weekend that demand office real state in New York City is down by over 40% from 5 years ago. The shift to work-from-home is that big.

Just This Guy wrote: ↑Tue May 30, 2023 5:39 am There is big money in it.

Hence the Lord's interest.

Just This Guy wrote: ↑Tue May 30, 2023 5:39 am ...when will this market settle down and could we potentially have a bubble in the warehouse real estate market in the next few years?

Unfortunately, it is just as risky for the LDS corporation as for a corporation that does not pretend prophesy.

The edge the LDS corporation has is that if that property loses value, they have the option to spend even more tithing money to put an empty temple there and claim that the original purchase was divinely inspired. Or replace the warehouse with a strip mall or other for-profit business venture, as directed by Jehovah. But rest assured, good member, they will not be unprofitable servants and use that land for something that is not financially praiseworthy.

Word on the street is it will house a 1,000 year storage supply of garments. The pandemic created a shortage of the Lord’s brand of polyester underoos and one sleepless night, Russell asked Wendy to leave the room while the revelatory pen scribbled feverish into the night… buy a warehouse, store garments so that the children of the Lord may never go without. Let there be 1,000 years of supply to meet the eternal and endless demand!

Does anyone know if polyester is flammable in large quantities when stored over time?

What’s interesting is the name of the organization used to buy the property.

Covent Garden IP

A quick google search suddenly takes you down a path of luxury: VERSUS Versace Women's Covent Garden IP Stainless Steel Quartz Watch Strap, Black, 20 Model: VSPCD1C21

All other references lead to Covent Garden, a high end fashion and luxury shopping destination in London.

Whoever is setting up these real estate transaction entities appears to be naming them in order to nestle them into common places where a google search doesn’t expose them to search results.

Or I could be too cynical here and the church is simply expanding its Deseret Industries capacity in Wembley.

Red Ryder wrote: ↑Tue May 30, 2023 9:09 amDoes anyone know if polyester is flammable in large quantities when stored over time?

Is large amount of polyester flammable? Yes. Time doesn't really factor into it much. In the US polyester used for consumer garments is required to have a fire retardant coating. There are also various fire codes that have to be followed when storing large amounts of raw materials. YOu can't just put a whole much in a warehouse. Commonly it involved special modifications to the fire suppression systems. These codes and what must be done to comply vary by state.

Since this is in England, it is possible that they have very different rules, but I would imagine that it wold be similar to how the US handles this sort of stuff.

Wait... that was pretty tangential. I meant to post this on topic YouTube short by Nemo the Mormon:

https://www.youtube.com/shorts/KSmK7xPOHY8

Red Ryder wrote: ↑Tue May 30, 2023 9:09 am Does anyone know if polyester is flammable in large quantities when stored over time?

All I know is what I hear in testimony meeting. They should not only fill that building with garments, but cover the exterior with a layer of them. It will be the safest building on the planet.

moksha wrote: ↑Wed May 31, 2023 10:18 am Wait... that was pretty tangential.

It works in any application.