Update on the Sale of the Bank of England Sports Centre

As announced last year, the Bank of England has taken a decision to sell, on a long lease,
the Bank of England Sports Centre. The Bank formally invited offers on the
Sports Centre in September 2019, and a number of bids were received for
the site, both in its entirety and across one or more of the three lots: (A)
Sports Centre and playing fields; (B) The Grange; and (C) The Cottages.

The Bank of England has been carefully assessing and evaluating the bids, which have
been reduced down to a short list. Best and final bids have been sought, and
a decision on a preferred bidder will be made mid-February 2020.

A final decision will not be made until after 23 March 2020, which is the
deadline for community bids under the terms of the Asset of Community
Value (ACV) designation. At this time any community bids that have been
received will be assessed alongside the preferred bidder, and a final decision
of the successful bidder will be taken at the start of April 2020.

The Bank’s aim is to be in a position to exchange contracts with the
successful bidder during April / May 2020, with completion taking place in
due course after that. The expected closure date for the Sports Centre
remains 30 April 2020.

If you have questions that are not addressed, you can email
sportscentrecommunications@bankofengland.co.uk