Arsenal seal £128m deal for Queensland Road project

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Arsenal have taken another important step towards completing the nine-year regeneration of the area around the Emirates stadium after Barratt Developments confirmed that they, in partnership with social housing partner L&Q, will start work on the construction of 375 upmarket flats on the Queensland Road in January 2012.

The housebuilder is hoping that the £128 million project, which will feature three residential towers, will attract interest from a new wave of Arsenal supporters inspired by the appetite shown by loyal Gunners who readily snapped up 655 flats at the redeveloped Highbury Stadium.

Arsenal were first granted permission by Islington Council to redevelop Queensland Road in 2002 but have seen plans heavily amended (see here) in the last decade as part of a revision of the club’s needs and with changed market conditions taking their toll.

Reflecting an agreement that marks the final piece in the Emirates Stadium jigsaw, Arsenal Director Ken Friar remarked:

“We are delighted to have signed with Barratt. This is the last piece of the jigsaw in our new stadium project which has delivered huge regeneration to the Borough of Islington. 2,500 new homes and 2,500 new jobs have been created over the past six years. I am proud that we stayed in Islington and proud that Arsenal has helped contribute to the local community in this way.”

Alastair Baird, regional managing director of Barratt London, added:

“The homes will be situated literally yards from the stadium and we expect them to become as sought after by Gunners fans as the properties at Chelsea Village are by Chelsea supporters.”

The first units at the development, designed by CZWG architects, will be on sale in September. The scheme will also comprise 440 sq m of retail space and the construction programme is expected to be completed in 2015.

 

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14 Comments on "Arsenal seal £128m deal for Queensland Road project"

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Bren

Any free ones available?

cliff

The club should build a huge supporters club on the site.
With huge bars and screens.
Lap dancing club should also be incorporated also.

Joe

Do you know if the club get any money out of this? I know that originally this was a completely “not for profit” part of the regeneration of the area but some websites are saying we will be getting c.£60M from Barratt?

Craig

That sounds great but I’d rather see us spend money on bringing in players and keeping our best ones at the club.

Savage is a Dave

Exactly. We are a football club afterall. Apparently.

Charlie

Great news but why mention fucking Chelsea?

Nik

It’s not anyone affiliated with Arsenal who mentions Chelsea, but Barratt.

Chill…

Dazz

If this deal helps pay off some of the clubs debt then great, it should mean more money to spend on transfers

Morrissey's Love Child
Morrissey's Love Child

A very missleading title, I can only assume to drive traffic to the site. Arsenal have sold the building site for £25m, upfront and will not have the cost of developing the site, but also none of any extra proffit. Also the entire piece has been cut and pasted from Property Magazine without any credit to the original author. lazy

TexasGooner6

I thought it was a good article. We are divesting ourselves of assets in order to get out of debt faster. Once we do this we’ll be able to completely focus on football and becoming the greatest team in Europe, World,…etc.

Don’t have a problem mentioning a rival club since so many of those clubs mention Arsenal when speaking of well run clubs. If they can say nice things about us than we can say a nice thing about a well run piece of their club. Let’s be mature about this.

The much maligned Gunners board have in the last ten years, developed a world class stadium, maintained an elite team ( I know, no trophies 🙁 ) and cut our debt down faster than originally thought. In the next two years we have so many marketing deals coming up that we’ll probably generate an additional 40 – 60 mil per year. Throw in the fact that were going on these Asian tours now and you can see that Wenger will have tons of cash to spend.

He may continue to spend that money on the teenagers but the upside is he’ll have the money to lock down Wilshere, Ramsey, Djourou for the long term.

drayton

worst thing that ever happened to football in England was the creation of the premier league and sky TV.

wish I had a time machine to 1983 and Charlie Nicholas signing for us. I would make him stay away form the birds and sniff and build the team around him. Did you know that we won the 1984 cup final, 1985 cup winner cup and the Division 1 title in 86,87 and 88. Charlie scored 50 goals in the 87 season as we done the treble. Ashburton Grove is still the old council yard, Myddletons builders and factories still occupy Queensland Road and Highbury is a 60,000 capacity ground with all standing the North Bank and Clock End with not a Tarquin wanker in sight.

eie

Midfield Corporal

There have always been Tarquins at The Arsenal, they were just never on The North Bank. Problem is we’re losing the working mans voice which creates the atmosphere.

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