On 14th March 2012, the KSIMC of Birmingham placed an unconditional offer for £1,500,000 for land and buildings on Sampson Road. On Monday 27th March 2012, the Jamaat was informed that our offer on the Sampson Road site had been declined by the vendors. The vendors received 5 offers, two of which were from owner occupiers retaining the property for its existing use.
The vendors agents are now attempting to finalise heads of terms with one of the occupier bidders who offered a higher price than the Jamaat did. It may well be that the sale falls through either at this point or during the legal process and the site may come back on the market.
According to Bill Houle of Trigram Properties (the company helping us to investigate the acquisition of a new site):
“For the present time, we must assume that the site is being sold elsewhere. However, in view of the sites drawn out sale history and our knowledge of the ground conditions (which the purchasers’ bank’s valuers will consider very carefully) we may get another chance. This means that we have a better opportunity to consider the purchase of the former Matthew Boulton site when it comes to the market.”
We are very keen to hear your views on what you think we should do if the Sampson Road site does come back on the market. Please use the comment facility below in order to let us know your views. Alternatively, please do not hesitate to email us with your views on this as well as any other issues.