Four major investors in the frame for Kirkby

Published on: Tuesday, 21-July-2015

Tesco and Knowsley Council have confirmed that four formal offers have been made to purchase Tesco’s land in Kirkby.

All four bids are from experienced investors, and would result in significant multi-million pound development in the town centre.  The bids come after months of behind the scenes work from Tesco and the Council to attract investment.
Cllr Andy Moorhead, Leader of Knowsley Council commented:
“We are naturally delighted that four high quality proposals have been submitted for Kirkby.  We made it very clear when Tesco pulled out of the town that we would do whatever we could as a local authority to help to attract new investment.  We are looking forward to the conclusion of the bidding process, so that we can then work with a new partner on the completion of our regeneration programme.”
Discussions with interested investors have been ongoing for a number of months and the deadline to submit formal bids passed on 9 July 2015.  Following an initial review of the proposals, Tesco is now in the process of carrying out due diligence (detailed investigations and checks of the interested organisations and their proposals) before making a final decision on the sale of the company’s assets in Kirkby.
A Tesco spokesperson added:
‘We are very pleased to have received bids for our site in Kirkby and are now evaluating these bids.  We are treating this process as a priority and while we’re not currently able to provide definitive timescales, we look forward to making a positive announcement to the local community soon that will secure long term investment in Kirkby.”