Administration and beyond!

Sluffy wrote:

???

What railway yards?

If you are thinking of Horwich Loco, then that isn't where the Middlebrook development is.

I understood Middlebrook was previously a farm - Sefton Fold, and that part of it was used as a council tip (although I only heard that as gossip I don't know how true that was?).

Middlebrook was developed by Emerson's (they were later the company that bought some of the car parks off Eddie to keep us going), in a partnership with the Town Hall and BWFC.

I've no idea who owns what land - if you are so keen to know you can always search the land register - although I suspect all of the land is owned by one of Emerson's, FV or Bolton Council.

Sorry Sluffy but I think you will find that it was PBP that bought some of the car park space to keep the club in business. Emerson were one of the objectors to the scheme.

Ten Bobsworth wrote:Sorry Sluffy but I think you will find that it was PBP that bought some of the car park space to keep the club in business. Emerson were one of the objectors to the scheme.

Thanks Bob.

However the original intent WAS indeed to sell to Emerson's...

"Days after assurances were given that the sale of car parking land to the Emerson Group would provide some “breathing space” ahead of a second High Court hearing, staff were left dumbstruck with the news they could not be guaranteed a wage in January".

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I could probably find the original article from a few days earlier if I tried hard enough but I couldn't be bothered.

In the end though you are right, I'd forgotten that PBP stepped in at the last minute to buy them.

I’m sorry Sluffy but I can’t read that article without subscribing to the Beeno and I’m not doing that.
Everything the Beeno published at the time was slanted and half-baked and nowt’s changed since.

Ten Bobsworth wrote:I’m sorry Sluffy but I can’t read that article without subscribing to the Beeno and I’m not doing that.
Everything the Beeno published at the time was slanted and half-baked and nowt’s changed since.

A slightly different article but I've posted it in full for you - note the reference to Middlebrook Business Park Ltd - I've given the company House link to them below - Company owned by Emerson's.

Late twist as Bolton Wanderers complete car park development deal
31st January 2016

WANDERERS have secured some short-term funding by completing a joint venture deal to develop car parking land at the Macron Stadium.

In what proved a surprising twist at the weekend, the club announced an agreement with Prescot Business Park Ltd, as opposed to Middlebrook Business Park Ltd, who had been expected to complete the purchase until very recently.

The Bolton News has discovered that some of the land was sold to PBP last June with an option to buy back.

That was accomplished on Friday after Wanderers once again went to court for a validation order to allow the transaction to take place.

An advance of around £6million has now been secured against development on the land – which is expected to come to light in the next few months. A statement from the club released on Saturday read: “Bolton Wanderers Football Club can confirm that it has completed a second commercial transaction with PBP Ltd.

“The further agreement provides much-needed short term funding, extends and progresses the long leasehold interests and joint venture development concept over the Macron Stadium North Car Parks that the parties had first entered into last year.

“PBP and the club now intend to bring forward detailed development proposals later in the Spring, although the whole project is expected to take a number of years.

“The club had previously been in advanced discussions with Middlebrook Business Park Limited, but ultimately a deal could not be concluded.”

PBP is registered at Chorley New Road and is owned by local businessmen Michael James and Tom Morris.

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As an afterthought, it may well be that PBP forms part of the consortium for the intended development if they own the land where some of it is going to be built on.

Might be one of the reasons why Mike James/PBP have put his money in/not pushed to get their money back over the last year or two, perhaps?

Thanks Sluffy. I think you could safely say that Iles and the Beeno would have been the last people the Board of BWFC would trust with commercially sensitive information. I expect that may still well be the case but it wouldn't take Hercule Poirot to figure out that Emerson would have been interested in protecting its investment at the Middlebrook.

But it was PBP's £12million that saved the day for BWFC in 2016 and it has seen little or no return on it's investment in the last six years.

What's changed? One thing is the prospect of Levelling Up funds. It seems Bolton Council would like to get its hands on some and use part of it to improve the roads and traffic flows around the Middlebrook.

In todays paper that Bolton Council have approved the plans for the "grand arc" including 200 new apartments.

Growler wrote:In todays paper that Bolton Council have approved the plans for the "grand arc" including 200 new apartments.

Labour’s Cllr Nick Peel also supported the plan, saying that he understood the levelling up fund bid would be '“greatly enhanced and strengthened by this being approved'.

Box ticked then.

LATEST NEWS

Sorry I don't mean to be dramatic simply to split this away from the accounts thread and back to here.

A further Allotment of shares have been issued - dated 28th June for 367,717 at £6.52673 = £2,399,989.58


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Wonder what's happening???