St James' Park

[Pandamninator]

2 minutes ago, UpTheToon said:

It is still listed so can't be impacted?  Still... must surely mean expansion is preferred? 

Awfully flammable all those old buildings, who knows what sort of accidents could happen.

[TBG]

Submitted by the Council so unlikely us purchasing the land, but there's also a pending application (submitted last year) for the Castle Leazes land.

[Weznufc]

So what does this actually mean ATM? 

[UpTheToon]

Just now, Pandamninator said:

Awfully flammable all those old buildings, who knows what sort of accidents could happen.

Tynemouth Plaza all over again...

[Fenham Mag]

ThE SaUdIs hAve LoSt inTerest

[Fenham Mag]

1 minute ago, Weznufc said:

So what does this actually mean ATM? 

 

Students being chucked out. 

[Charlies]

Quote

Newcastle United have bought the majority of Grade 1-listed Leazes Terrace for a figure believed to be in the region of £20million-£25million ($26.8m-$33.5m).

The enclosed, ring-shaped Georgian crescent, is adjacent to St James’ Park and its western elevation is directly opposite the East Stand, which has long restricted the expansion of Newcastle’s current ground.

While the obvious and understandable assumption will be that Newcastle are now prioritising remaining at and enlarging St James’ over moving to a new state-of-the-art stadium next door, club sources insist that is not the case.

Insiders are adamant that a final decision has not been made and that both remain live possibilities. However, as The Athletic has long reported, over the past few years several senior figures at Newcastle have expressed internally that the preference would be to move. This purchase has not materially altered that.

Instead, Newcastle sources, briefed on the purchase but not authorised to discuss it publicly, insist this acquisition offers the club “optionality” in both directions. Newcastle view it as being of strategic benefit, whatever they ultimately decide to do.

The insistence is that this shows Newcastle are making moves towards creating “oven-ready options” either way, rather than merely continuing to run feasibility studies, as has been the case for much of the past three years, when material progress towards a final call has felt glacial.

At least theoretically, expansion of the East Stand — which has not been significantly redeveloped since 1972 — becomes slightly more feasible now.

The buildings on Leazes Terrace are listed and cannot be knocked down.George Wood/Getty Images

The protected Grade 1-listed buildings cannot be demolished — and Newcastle insist they intend to preserve the historically important architecture — but the legal “right to light” which property owners on Leazes Terrace hold will become less of an issue should the East Stand increase in height and/or width, given the club now own the buildings themselves.

Alternatively, if Newcastle were to try and build a new stadium on Leazes Park, then the club feels that owning the western side of Leazes Terrace potentially offers them a greater say in what the reimagining of the present St James’ footprint would look like. Returning the site to parkland has been mooted, though Newcastle may look to explore whether redevelopment is possible.

Regardless, there is a financial dividend — especially on the UEFA SCR (squad-cost rules) front.

The revenue gained from the rent of the Leazes Terrace properties — while Newcastle will own the buildings, the flats, student accommodation and offices will still be managed by the present property management companies — is expected to count towards their football income figure in UEFA’s calculations, potentially aiding compliance in future years. Interestingly, the actual capital outlay should not negatively affect where Newcastle stand in relation to meeting UEFA’s financial restrictions.

A cash injection from Newcastle’s ownership — Saudi Arabia’s Public Investment Fund (PIF) has an 85 per cent majority stake, while the billionaire Reuben Brothers have a 15 per cent minority share — has at least part-funded the acquisition.

A subsidiary company, used to purchase properties, has bought the buildings on Leazes Terrace, rather than Newcastle United Limited itself.

Newcastle have spent up to £25m to acquire the western section (closest to the East Stand) of Leazes Terrace, plus the majority of the northern and southern elevations, as well as part of the eastern side of Leazes Terrace, via one transaction from the previous owner. Much of the eastern side which faces the tennis courts on Leazes Park remains privately owned, however.

from the athletic 

[KennyUtd]

6 minutes ago, Fenham Mag said:

 

Students being chucked out. 

Can you volunteer to help with that?

[UpTheToon]

Quote

The revenue gained from the rent of the Leazes Terrace properties — while Newcastle will own the buildings, the flats, student accommodation and offices will still be managed by the present property management companies — is expected to count towards their football income figure in UEFA’s calculations, potentially aiding compliance in future years. Interestingly, the actual capital outlay should not negatively affect where Newcastle stand in relation to meeting UEFA’s financial restrictions.

 

This is mental isn't it? Obviously Chelsea have exploited this by selling things but ongoing external revenue?  Whats to stop PIF buying the metrocentre, eldon square and half of Oxford street and NUFC getting the ongoing rent?

[Stifler]

This will help us in multiple ways.

1: It means the owners of this building won’t object to a new stadium on Leazes Park.

 

2: In time I think the student accommodation will be converted to high end apartments that the club sells as part of corporate packages.

 

3: I believe the original owners were Newcastle University, so this would indicate that they now have a working relationship with the university. Going back to point 1, this be useful as the university are the landlords on the other side of Leazes Park/Castle Leazes, and having them on board over objecting to our future plans would be useful.

[Pandamninator]

3 minutes ago, UpTheToon said:

 

This is mental isn't it? Obviously Chelsea have exploited this by selling things but ongoing external revenue?  Whats to stop PIF buying the metrocentre, eldon square and half of Oxford street and NUFC getting the ongoing rent?

"Newcastle United are delighted to confirm the acquisition of the Ghawar Oil Field"

 

 

Edited May 19 by Pandamninator

[Moose]

Off to Beamish it goes! Brick. By. Brick. 

[TK-421]

4 minutes ago, UpTheToon said:

 

This is mental isn't it? Obviously Chelsea have exploited this by selling things but ongoing external revenue?  Whats to stop PIF buying the metrocentre, eldon square and half of Oxford street and NUFC getting the ongoing rent?

Buy the Sandman Hotel, too?

[Superior Acuña]

13 minutes ago, Charlies said:

from the athletic 

Cheaper than Wissa.

[jonny1403]

18 minutes ago, Stifler said:

More fingers pointing to a new stadium.

 

It suggests exactly the opposite IMO. As per the Athletic article.

[Newcastle Fan]

Expanding that side makes more sense than buliding a new stadium and will probably cost less.

[Deuce]

Broke: demolish Leazes Terrace

 

Woke: demolish the East Stand

[Toon No9]

The Leazes Terrace will become the new club shop integrated in the expansion of St James Park!

[deejeck]

5 minutes ago, Stifler said:

This will help us in multiple ways.

1: It means the owners of this building won’t object to a new stadium on Leazes Park.

 

2: In time I think the student accommodation will be converted to high end apartments that the club sells as part of corporate packages.

 

3: I believe the original owners were Newcastle University, so this would indicate that they now have a working relationship with the university. Going back to point 1, this be useful as the university are the landlords on the other side of Leazes Park/Castle Leazes, and having them on board over objecting to our future plans would be useful.

The Uni did used to own Leazes Terrace but I believe they sold it in 2019.  Newcastle Uni and NUFC are developing a decent working relationship though with the women training at Cochrane Park, there was a lot of investment went into improvements to get the site fit for purpose.

[geordie_b]

No right to light if there is nobody living there…

[Superior Acuña]

So is East Stand expansion actually feasible then? I always thought it was a non-starter, but that article says this makes it 'slightly more feasible'. East Stand expansion surely massively changes the potential future capacity.

[Wilson]

I love this

 

 

[Wilson]

Just now, Superior Acuña said:

So is East Stand expansion actually feasible then? I always thought it was a non-starter, but that article says this makes it 'slightly more feasible'. East Stand expansion surely massively changes the potential future capacity.

 

Guessing the right to light only matters if people complain about it. 

[duo]

4 minutes ago, TK-421 said:

Buy the Sandman Hotel, too?

Just buy it all

[Superior Acuña]

1 minute ago, Wilson said:

 

Guessing the right to light only matters if people complain about it. 

 

Is right to light the only issue though? I thought the proximity brought other structural issues.