Finch Farm under new ownership

10/06/2013

Everton's Finch Farm training complex has been sold by previous owners Finch Farm Ltd to Liverpool City Council for £12.925m.

The firm had enlisted property management company DTZ to sell the land and facility in October 2011 with an asking price of £15.3m but Finch Farm remained in their hands until last month whereupon LCC stepped in to insolvency last month.

Formerly New Blue Properties and then ROM Capital [Academy] Ltd and registered in Chigwell, Essex, the company bought the land for £2.1m and paid for the development costs for the facility which was completed in 2007.

Everton signed a 50-year tenancy agreement for Finch Farm then and the club had an option to purchase the site every 5 years, one they declined last year. According to the Land Registry filing, the terms of the club's lease of Finch Farm remain unchanged, although there appears to have been an adjustment in the deal based on comments made by Liverpool Mayor Joe Anderson who said the council had used its “borrowing power” to buy the Halewood facility, in order to rent it back to the club.

The Liverpool Echo report that the terms of the deal "mean the Blues will make 'significant' savings on their regular rent payments," which were around £1.4m a year before the sale.

Mayor Anderson said: “It's a good deal for us and for them.

“We will get revenue from it, and it frees up money for the club.

“When I was approached to see if we could assist, we were happy to, and after a few months of negotiation it was done.

“This nails the lie that the council does nothing for Everton. We will do what we can when we can.”

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