Administrators move to sell Gigg Lane
Bury FC’s 12,000-capacity stadium has been put on the market, after initial attempts to dispose of the asset last year ground to a halt.
Talks are already being held with interested buyers, including an unnamed community interest group, and other parties.
Last March, Place North West reported that a consortium of eight local businessman hoping to save the club from administration had asked Bury Council to purchase the Gigg Lane ground and then lease it back to the consortium.
However, Bury FC collapsed in November more than a year after the club was expelled from the Football League in 2019, and no deal was reached. The ultimate aim of the administration was to rescue the club as a going concern, enabling it to seek readmission to the football pyramid system.
Now, Steven Wiseglass, the club’s administrator at Inquesta Corporate Recovery & Insolvency, has appointed Fleurets as agent to sell the 135-year stadium.
The 6.4-acre stadium site, which was redeveloped in various stages during the 1990s, also includes the ticket office and club shop. The stadium is freehold, and Fleurets is seeking unconditional offers for the entire property.
“As part of the administration process, I have been liaising with the secured charge-holder over the stadium and have now appointed Fleurets to actively market the stadium for sale,” Wiseglass said in a statement.
“My role is to secure the best possible outcome for all stakeholders of The Bury Football Club Company. Bury FC is a club with a rich history and a loyal and enthusiastic fan base, and I hope a suitable buyer will be forthcoming to secure the future of football at Gigg Lane.
“All expressions of interest should be submitted directly to Fleurets.”
Wiseglass added: “It is understood there may be an offer from a community interest group to purchase the stadium and trading name as a result of the Chancellor’s announcement in the recent Budget to provide matched funding for purchasing assets of community interest.
“There are other potential parties interested in acquiring the business and assets, and I am liaising with them.” Inquesta is continuing to investigate the financial transactions that led to the club going into administration as part of the process. The club reportedly has more than £12m in unsecured debt.
Bury FC – known as The Shakers – was previously owned by businessman Steve Dale
Graeme Bunn, managing director of Fleurets, said: “This is an opportunity to purchase a freehold stadium, with an all-seating capacity of over 12,000.
“The marketing of the stadium presents a variety of buyers and occupiers with the prospect of securing the landmark property. Offers will be invited on an unconditional basis and we encourage all interested parties to contact Fleurets as soon as possible, as we anticipate significant local and national interest.”