r/Glasgow Tools

Title
Author	124876720
Comment	To perhaps pour a bit of cold water on the outraged in this thread: No doubt there are some dreadful examples of cynical profiteering like the (Dundee-based) dick who owns Egyptian Halls, but a large number of the vacant buildings and brownfield sites in the city centre are in multiple ownership and, especially where there has been damage by fire or some other total loss, have had policies of insurance voided or cover refused by the insurer. All of this means when you it is not necessarily a case of a greedy landlord looking for a handout from the cooncil. Sometimes they just don't have the funds to reinstate and are locked in litigation with their insurer (and then usually their broker) trying to actually get paid. Or, in the alternative, 3/4 owners want to reinstate but one is underinsured or obstructive etc and they get tied up for years. (Also, buildings that burn down are usually not "insurance jobs". Insurers are not stupid. If you have a policy on an abandoned Glasgow city centre building it will be full of special conditions about the type of locks you use, what security system is fitted, how often it is patrolled by a nightwatchman etc. Even if you have a bona fide fire, the insurer will have fire investigators and loss adjusters crawling all over the site finding reasons not to pay out and if you haven't complied to the letter with the conditions you won't get paid.)
Reddit Link	https://www.reddit.com/r/glasgow/comments/15h4yob/owners_of_vacant_buildings_in_glasgow_could_be/juqjzh9/
Created	Fri 4th Aug 2023 9:55am
Status	normal ()

To perhaps pour a bit of cold water on the outraged in this thread:

No doubt there are some dreadful examples of cynical profiteering like the (Dundee-based) dick who owns Egyptian Halls, but a large number of the vacant buildings and brownfield sites in the city centre are in multiple ownership and, especially where there has been damage by fire or some other total loss, have had policies of insurance voided or cover refused by the insurer.

All of this means when you it is not necessarily a case of a greedy landlord looking for a handout from the cooncil. Sometimes they just don't have the funds to reinstate and are locked in litigation with their insurer (and then usually their broker) trying to actually get paid. Or, in the alternative, 3/4 owners want to reinstate but one is underinsured or obstructive etc and they get tied up for years.

(Also, buildings that burn down are *usually* not "insurance jobs". Insurers are not stupid. If you have a policy on an abandoned Glasgow city centre building it will be *full* of special conditions about the type of locks you use, what security system is fitted, how often it is patrolled by a nightwatchman etc. Even if you have a *bona fide* fire, the insurer will have fire investigators and loss adjusters crawling all over the site finding reasons not to pay out and if you haven't complied to the letter with the conditions you won't get paid.)