One of Scotland’s largest equestrian competition venues is being marketed for sale with a £650,000 price tag.
The move follows the liquidation of the company behind Kingsbarn Equestrian Centre Jakem Ltd, directed by Fife horse owner and trainer Jackie Kemp.
“The final court hearing with regards to the liquidation of Jakem Ltd took place in Falkirk last week,” confirmed Scott McGregor, of Grainger Corporate Rescue, Bath Street, Glasgow.
He said during the last session at the Sheriff Court, the financial company which had dealt with the provisional liquidation of the equestrian firm was confirmed as official liquidator.
As such, Mr McGregor added: “This has put us in a position to market the property.”
He confirmed Grainger Corporate Rescue appointed rural property specialists Baird Lumsden to handle the sale on Monday (January 19).
The estate agency, which has its headquarters in Edinburgh, will be marketing the equestrian centre via it’s Stirling office in Bridge of Allan.
According to manager Duncan Ferguson, the property and facilities at Kingsbarn EC, near Shieldhill, in Falkirk, should reach the open marketplace early next week.
“However, there is significant on-going interest in the centre,” he added.
Mr Ferguson conceded that, should an offer be received that is “agreeable” to the liquidators over the intervening days, it remains possible the sale of Kingsbarn EC may not go as far as the open marketplace.
But he did say it will be the aim of Baird Lumsden to achieve the best possible price for the property.
“The land and buildings at Kingsbarn Equestrian Centre will be sold with vacant possession,” added Mr Ferguson.
“Obviously the property has been purpose built to run as an equestrian business and we would anticipate it will be sold to an equestrian enthusiast to use it as such.”
Mr Ferguson, who will shortly be drawing up particulars for the property, said Kingsbarn EC is being marketed for offers over £650,000 a price which he described as “reflective of land and buildings”.
The centre is widely regarded as one of the main equestrian competition venues for the country, as a host for training and affiliated events across multi disciplines for all levels of horse riding.
In the latest financial report for Jakem Ltd, dated for the year end June 30, 2013, the tangible fixed assets of the company ie. Kingsbarn EC and the equipment within it carried forward a value of £884,445 (down from £896,423 for the year end June 30, 2012).
Kingsbarn Equestrian Centre first opened its ‘state-of-the-art’ facilities to Scottish equestrianism under the ownership of Stewart Aitken back in 2007 at a build cost reported to be in the region of £10 million. Dogged by financial issues, the centre went into administration and closed less than two years later. Ms Kemp re-opened Kingsbarn in the winter of 2009 under the business Jakem Ltd. The venue offers two international sized indoor arenas, 75 indoor and 90 outdoor stables, and has hosted countless national competitions across many equestrian disciplines over the years. Kingsbarn Equestrian has been home to liveries, a string of top showjumpers and more than 30 riding school horses and ponies. In its heyday, the centre also offered a tack shop, cafe and bar facilities, gallops and a split level all-weather outdoor arena spanning two acres.