The completion of the sale is now dependent on the vendor undertaking the work to separate the building into two. This will be done by demolishing one span of the warehouse and we will have the front section and a Data Centre will have the rear.
We heard last week that work to split the building will commence on the 12 Oct and should be completed in 8 weeks ie the 7 Dec. One reason for pushing to complete the sale quickly is that VAT is due to increase from 15% to 17.5% on the 1 January. If we can complete by the 31 December then the saving will be a very significant £37.5K.
We have recently met with our architect and he should have scheme plans of the auditorium, welcome area and King’s Kids area ready at the end of October. We are also developing detailed plans for the refurbishment and occupation of the offices in early March.
So we continue to make progress and I think may be approaching the end of the beginning!!
Roydon
