New Stadium Update

Tottenham requested the removal of a restrictive covenant on the land known as the Albion Works, Paxton Road and part of the former Wingate Industrial Estate, which the Leader of Haringey Council was recommended to approve to on Monday June 15.



Wingate Industrial Estate is located to the North of Tottenham Hotspur’s stadium off Tottenham High Road. agreed on 24th February 2009 to dispose of the freehold of the then Council’s land to a Tottenham Hotspur company. Stardare Limited. The freehold transfer of that land took place on 12 December 2014 and cost the club £350,000.

Haringey Council gave approval on 20th March 2012 for disposal of the land to THFC and placed the following restrictive covenant on it as a condition of the lands disposal because of fears we might relocate to the Olympic Stadium.  The covenant: “that the transfer of the land to THFC shall contained a restriction that the land is to be used for the purposes outlined in the application and stated in the CPO”.

Without this the stadium couldn't be build say the club as banking lenders are refusing any sort of restrictive covenant on the land.

This covenant was placed on the land to be disposed to Tottenham Hotspur Football Club on 20 March 2012 which, in effect, only authorises use of the land for the Tottenham Hotspur Stadium redevelopment proposals.

Tottenham have asked for the removal so that we can obtain the necessary competitive funding terms required to complete the New stadium regeneration scheme. Without the removal it would cost us more to build the new stadium with all the associated problems that creates and as the stadium is the element that is sparking the regeneration of the area, refusing it would delay that regeneration.

You can read the full Haringey Council document at the link below.

New Stadium - Haringey Council
http://www.minutes.haringey.gov.uk/Published/C00000435/M00007495/AI00045387/$DraftreportWingateLandCovenantv3.docx.pdf