Haringey council appears to have scuppered attempts by Priest Marians to agree terms for a bid for GRA Group. The council has served GRA with proceedings questioning the validity of the Environment Secretary’s decision last month to grant permission to redevelop Harringay Stadium.
Until the question has been settled, GRA’s agreement to sell to J Sainsbury a site at the stadium for £10.5m cannot be completed. The sale was conditional on full planning consent having been obtained.
GRA is to contest the council’s action, but the sale of the land plus an option for Sainsbury to buy an additional site for £1.5m will be delayed. Clearly this deal would play an important role in the bid talks with Priest Marians and it seems that they will now be postponed or abandoned.
