Source: Northern_Echo
Creditors hope to reclaim all debt on Quakers' stadium
Darlington Football Club creditors hope the sale of its stadium and land could be completed within months - allowing them to reclaim their debt.[LNB] The Northern Echo Darlington Arena and its 25-acre site was put up for sale on the open market this week.[LNB] A spokesman for creditors, Graham Sizer and Philip Scott, believed the site is attractive with interesting planning potential.[LNB] He also confirmed the pair were looking to reclaim all their debt on the land. It was originally £1.7m but interest has pushed to more than £2m.[LNB] It would rule out a sale to Darlington FC chairman Raj Singh, who made a lower offer based on an independent valuation of the holding company's assets.[LNB] Property firm Edward Symmons was instructed to advertise the sale of stadium and land this week, two months after the holding company that owns the site was placed in receivership.[LNB] The firm has received inquiries after it advertised the sale in regional, national and trade media.[LNB] Property expert Stephen McOwan, a partner at North-East estate agents George F White, believed the land could attract retail or leisure prospects to work alongside the football club, which is two years into a 15-year lease on the site.[LNB] He added: "The ground doesn't have to remain but it would be something of a travesty for it to disappear. If it did, where would it go"[LNB] Darlington Borough Council has given permission for a hotel and other leisure developments to be built subject to legal agreements.[LNB] A spokesman added: "We remain committed with working with the club to see a thriving league football club in Darlington."[LNB] At least two supermarket chains are believed to have contacted the club about the land.[LNB] * To read a full report, see The Northern Echo today.[LNB]
