Tottenham Hotspur plc (AIM: TTNM) announced it has submitted its Planning Application for the proposed new stadium in the London Borough of Haringey. The move marks a major milestone in the Clubs regeneration plans. The new stadium and the surrounding developments are projected to improve earnings capacity through both ticket sales and revenues from a multi-million pound investment area which brings housing, retail, leisure and hospitality venues.
Tottenham’s existing 36,000 capacity stadium has remained unchanged for over a decade. According to the Club it currently has a significantly larger ‘consumer’ base with over 70,000 registered club members and more than 23,000 people on the waiting list for season tickets. The new stadium is designed to have 56,250 capacity.
The Northumberland Development Project represents a world class regeneration project which covers an area of around 20 acres. The design boasts a vibrant public space around the stadium, a new 150 bedroom hotel with restaurant, a new Club museum and a new 20,000 sq ft Club merchandise shore. The surrounding development will also include a new 80,000 sq ft supermarket and 434 new homes providing a choice of high quality living and also including 40% affordable housing.
The submission follows an extensive pre-application community consultation carried out by Tottenham which surveyed the opinions of 2,500 at two separate exhibitions. The Club has submitted a planning application together with the associated conservation area consent and listed building applications. Haringey Council will now undertake its statutory consultation process.
Tottenham Hotspur Football Club Chairman, Daniel Levy commented on the latest milestone in the new development:
"The submission of the application is a hugely important step for the Club. This is a multi-million pound investment in the area which brings with it housing, retail, a hotel, a supermarket, expanded community services and jobs and an exceptional public square. We have designed what will be a vibrant area 365 days a year and not a stadium with dead space surrounding it. The inclusion of a new single tier stand combined with a fantastic stadium design demonstrates our absolute commitment to create the most atmospheric stadium for our supporters."