Island sale set to be completed

The Island entertainment complex, on South Promenade, St Annes, looks dilapidated after lying empty for months.
The Island entertainment complex, on South Promenade, St Annes, looks dilapidated after lying empty for months.
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A DEAL to sell The Island entertainment complex is set to be finalised in the coming weeks.

The seafront centre shut in September 2009 and the plug was pulled on the four-screen cinema, bowling alley, amusement arcade and restaurant.

Following a long struggle to find a buyer, the price was slashed from £750,000 to just £295,000 and finally an un-named bidder came forward in August of last year.

And after long and protracted negotiations, which have taken more than five months, a deal could now be on the horizon.

Ian Simpson, of Savills – who are responsible for selling the site – said: “We are still moving forward and hopefully we can get a deal done in the next four to six weeks. It’s not even a case of negotiation, it’s just a question of getting all the legal documentation finalised and signed.

“Terms are still agreed and it’s the same buyer.

“It’s just that the legal documents are very complicated and it’s taken a long time to resolve.

“It’s one of the most complicated titles I’ve seen.”

He added: “I know it was a focal point for the town and hopefully it will be again if this deal is done.

“I think the people of St Annes will approve.”

Mr Simpson said that he could not release the name of the name of the bidder but both St Annes-based Renovate Life Church and Northern Morris Cinemas have expressed an interest in taking over the site in the past.