Arsenal - Highbury Square

M

Mares

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Hi there, I am just curious as to what people think of the Highbury Square development at Arsenal's old ground in London?

I am not in the league of punting for it (starting at £295,000 i.e. about €430,000 for a 1 bed apartment!) but it hasn't been mentioned here and I'm curious!! I think it has a big novelty value but is it viewed as a highly risky bet?

Blurb on the paper today mentions Forecast Yield 6% (on selected plots) and Projected Capital Growth over 25% (research projection for Greater London).
 
Looks nice alright:


London property is expensive at the moment, plus I think you would be paying a "fans premium".
They're keeping the pitch as a park, and the appartments seem a nice size (e.g. no 67 on the south stand is 1034 sqft 2 bedroom appartment. Bigger than most 3 bed semi-d's here!!)
 
Hope there will be a better atmosphere than there was in The Library.
Sur they may as well bring the bulldozers in now as their season is over.
Up the Yiddos.

jonnyhotspur
 
Right, I see it's really just for the fans then!!

I read somewhere a while ago that there's no shortage of apartments in that area of London and so they would be tricky to find tenants for.

Still, they could be sort of "corporate apartments" for the Olympics in 2012? Still very expensive though!!
 
house prices fell in much of the uk in last 3 months of 2005,the projected returns dont seem that impressive considering forecasts are usually highly optimistic. interest rates are high if financing in uk and the economy in uk is slowing down.forget its arsenal stadium,theres no room for sentimentality in investing unless theres a premium to be had.
 
Hi Mares,

Those prices look a little rich given what the local area is like. The locality is very mixed. Further south you have smart areas such as Highbury fields and Islington, but just 10 minutes walk north of the stadium is the Seven Sisters Road - a fairly grotty part of North London (also close is the Finsbury Park mosque where Abu Hamza used to preach). A 4-bed renovated victorian house in that area would set you back about £550/£600k vs. £295k for a one-bed appartment in the development. Also, a 6% yield does not look that great when you can earn 4.5% with an internet bank account in the UK. For the same cash, there is probably (relatively) better value available in the surrounding area.

Having said that the area will certainly improve now the stadium is moving as the hoards of fans and associated rubbish/noice/drunkeness move 1/2 a mile further away.
 
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