17 Feb 2008
Haçienda investment opportunities 
It would appear that the Haçienda still retains the capacity to lose money.

According to Miles Brignall in The Guardian, such is the state of negative equity in the Manchester City Centre new-build market that "professional investors [are] clamouring to get out of properties in a desperate attempt to cap their losses".

This exodus is causing a significant drop in the values of the thousands of apartments ('flats for tw@ts' as one piece of Hulme graffitti puts it) that have been, and are still being built, as part of Manchester's 'new urban renaissance'.

"At the landmark development, The Haçienda, flat 213 is being offered for sale for GBP 205,000. The same apartment was bought for GBP 261,000 in April 2004."

The same apartment was initially sold by the developers Crosby Homes ("You can see the Haçienda - it does exist") at GBP 236,000 as new in 2002.

As the original marketing brochure put it: "now the party's over'.

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A Certain Ratio

"Manchester, 1978. In the beginning there were four: Jez Kerr (bass), Martin Moscrop (guitar/trumpet), Peter Terrel (guitar/effects) and Simon Topping (vocals/trumpet). Four thin boys with a name borrowed from a Brian Eno record, the intense, drummerless quartet initially drew influence from Wire, Eno, the Velvets and Kraftwerk, and gained a manager in Anthony Wilson of Factory Records.

"May 1979 saw the release of their first ACR single, the dark All Night Party, although the sound and musicianship of the band would be transformed by the arrival of funky drummer Donald Johnson (DoJo) in August. Over the next few months the band gigged widely, often with Joy Division as part of Factory packages, and recorded demos with producer Martin Hannett as well as a Peel session. Their support slot with Talking Heads on their UK tour in December 1979 set David Byrne on a new course, and provided the compelling live half of their chic cassette package The Graveyard and the Ballroom. Post-punk, ACR now reflected the influence of Funkadelic, George Clinton, Bootsy Collins, The Bar Kays and James Brown."

- intro to ACR Biography by James Nice (LTM)

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