Roger Fitton led the team which acted for Queensland Road LLP (a joint venture between Barratt and London and Quadrant Housing Trust) in the acquisition of a landmark development site at the Emirates Stadium for £26m. The development comprised the planned construction of three residential towers with 375 units varying from studios to penthouses. The prestigious development is to be located on Queensland Road close to the Emirates Stadium and forms the final piece in the 9 year Ashburton Grove project.
The location of the site presented particular difficulties involving building into the stadium podium and requiring the release of rights by Network Rail and provision of a heat and power network serving this and adjoining developments.
Due to the unusual nature of the development, the acquisition involved key Partners Roger Fitton, Eleanor Kilminster and Richard Tinham, who drove the project forward by:
- Securing a building and airspace lease to enable the construction of an amenity deck
- Dealing with the concerns of the sellers particularly regarding the reputation of the iconic stadium and the effect of nearby buildings which might affect their reputation
- Implementing restrictive covenants to protect the integrity, amenity or operation of the stadium in anticipation of possible troublesome fans
- Checking all contractors and consultants undertook all tasks in compliance with stadium concerns
- Ensuring security for commercial terms and leasebacks for retail use
Key facts
Client Name: Queensland Road LLP
Value: The GDV of the scheme exceeds £100m
Project Progress: Completed
Core Areas: Commercial, Construction, Real Estate, Social Housing, Development and Regeneration
