|Accrington Cricket Club|
EGM. Monday 28th February 2011
As most of you will know this years AGM. on the 7th Feb was followed by an EGM to discuss the possible signing of an Option with Lancashire County Council, (L.C.C) to sell off land for a housing development, the Car Park, the Tennis Courts, Tearoom, and Garages, all included.
At various times in the past we have discussed this option with the membership and talked about the various complications and the land sale values and how we are progressing. The whole process is encompassed in a five year deal between the Club and L.C.C. who own the adjoining land o n the left hand side of the access road and the unmade road itself all this being some 6.7 hectares, our area which is being offered is approximately 2.2 hectares. Both areas were valued at 880K per hectare making a total land value of our land on offer of 1.7M approximately, that was some two or three years ago, and of course well worth pursuing.
L.C.C. Land has been subject of some contamination of methane gas, and they had to seek professional advise which took time, so things were delayed and in the meantime land values continued to drop. We are now faced with almost 50% reduction in value down to approximately 850K and since mid January we have been informed that we will be required to pay a charge to L.C.C. for repairing the land and the expenses in obtaining planning and costs in preparing the outline details. They are looking for some 30% of your total for this, also Ribblesdale Development who are acting as agents for L.C.C. will require 10% on top. Therefore we will be required to pay out some 340k leaving us with a development fund of 510K Of course this figure is still a variable as the deal will still take time and the signs are that the market is improving it will not make a great improvement as percentages still control the final figures.
There is no guarantee that this won’t go the wrong way, and we need enough cash to develop new buildings for cricket, tennis, and tearoom along with the re-siting of the courts and all the car parking which is required planning will also be required.
We have tried to negotiate various other deals, which allowed the development to retain the present buildings for the tennis a tearoom etc,
But County are bound in their development to provide quality housing and require that extra amount of land which is yours, to attain the 100 quality houses with sufficient free land which is the target.
But we realize that this is a one off chance to sell the land, and pay off any debts whilst having some money to do it.
This is a once in a lifetime chance, to move forward and develop our Club. So far the membership has supported the management to move this forward with a vote of 36 for and 8 against, at the above meeting, We are aware of the consequences, and will obtain reliable quotes and costing before the final option is signed.
P.J. Barratt President
On behalf of the Management
17th March 2011.