Discussions on purchase of fields due to commence

The ACV for the sale for Udney Park playing fields was finally triggered on 15^th September 2023, when the owners formally confirmed to LBRUT that they intended to sell the fields. A moratorium of six months now commences during which time the fields can only be sold to a Community Interest Company (CIC). LBRUT has confirmed that the Foundation is a qualifying CIC. The Foundation has already approached the owners to commence meaningful dialogue. A selling agent is to be appointed to act on their behalf. There is no obligation for the owners to sell to a CIC but the sale of the fields will be a tremendous legacy, and hopefully an exit can be found that suits both parties.

Whilst this has all been happening the Foundation has continued to have very positive dialogue with other charities who would like to make use of the facilities, adding great social value to the community sports proposal already put forward. The hope will be to develop these discussions once a purchase of Udney Park moves closer to being realised.