A GLIMMER of hope is on the horizon for the Oxford Stadium as it was revealed it recently 'changed hands' for £1.4 million.

For the first time since the closure of the greyhound track in 2012, campaigners now have a rough valuation for the site to work with, backed up on the Land Registry.

Andy Cooper, who still runs go-karting firm Karting Oxford from the site, said 'the door has now been opened' for would-be buyers who might want to restore it.

He said: "If the owners are genuine businesspeople they will want to see a stable return on their investment, and maybe someone to take a chance on operating the stadium.

"It won't be easy to find a buyer but I'm quietly confident certain people have been watching the stadium, and had discussions with appropriate people."

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The Sandy Lane venue was purchased by Cowley Property Investment Ltd in October and newly released land registry documents have shown its value.

It was bought from GRA Acquisition LTD, which had racked up debts of £52m, but both organisations have the same directors and are subsidiaries of a company called Risk Capital Partners.

However, the sale of the stadium, alongside possible development at Wimbledon Greyhound Stadium in London, also owned by Risk Capital, suggests creditors are content with the plans or the company would have been liquidated.

There are still no firm plans but it is hoped, with a set value on the table, that investors will know what they are dealing with.

As an asset of community value, if Oxford Stadium goes up for sale there would need to be a six-month period for people in the local community to bid for it.

Meanwhile Oxford City Council is still looking at finding an operator, to wrest back control of the site via a compulsory purchase order (CPO).

Mr Cooper said: "Now the council has a realistic valuation, I believe it has to sit tight a little while.

"For a CPO they have to show that no-one has moved forward or shown any intention to do anything with it."

As winter draws in, concerns have been raised for parts of the structure of the stadium, which was gutted by GRA staff after its closure and has not been touched since.

The stadium is a heritage asset due to architectural elements, such as its wartime Nissen hut and iconic bandstand, and is also listed as a conservation area.

Mr Cooper said: "If we have a strong wind it would do some damage. It wouldn't take long to take a couple of roof panels off.

"There's also quite a few trees on site which are coming to the end of their natural life; they should be maintained but none of that has happened."

The Risk Capital Partners website includes a list of ventures it has invested in in the past, including Mayfair Bingo, bar chain the Grand Union Company and the Giraffe restaurant chain, but does not list the Oxford site.

Benedict John Redmond and Luke Johnson, directors at Risk Capital Partners, did not respond to the Oxford Mail's requests for comment.