New Ground

[Abseits]

I've always felt the alleged covenant is not an issue. Was standard practice to have strange stipulations and things written in all land deeds and titles back then, vast majority of them are just ignored nowadays. I suspect they could be legally challenged or more likely, unlocked with a brown envelope stuffed with pictures of the king.

[Abseits]

Been bored without footy so looked at a lot of stuff and old info regarding a new stadium...

One thing I found is that there is NO covenant on the Loftus Road lease that says that the land must be community use. Therefore, it could be sold and redeveloped into residential or commercial property (subject to planning and NIMBYs of course). The idea that the land of our stadium has a depressed value because of a covenant is wrong.

I suspect the covenant musconception arose from the West London Stadium site that DOES have a covenant on the land stipulating it must be open space community use.

[SheepRanger]

Been bored without footy so looked at a lot of stuff and old info regarding a new stadium...

One thing I found is that there is NO covenant on the Loftus Road lease that says that the land must be community use. Therefore, it could be sold and redeveloped into residential or commercial property (subject to planning and NIMBYs of course). The idea that the land of our stadium has a depressed value because of a covenant is wrong.

I suspect the covenant musconception arose from the West London Stadium site that DOES have a covenant on the land stipulating it must be open space community use.

Thanks for the update.

Its definately a confusing issue and I do remember some work on this when DeMarco, Steele and Kallis were advising Paladini and the Monaco based owners around the refinancing of the ABC loan. But I have failed to find any evidence to back up what I believed to be the situation.

However, I have found this document and the H&F are of the view that any redevelopment if LR would have to include some community facilities. There may not be a covenant on the ground, but the club would face a huge task to gain full planning to redevelop the site for a commercial project. Surely this has an impact on the value of the site? Even fir housing "for local people" it may be social housing? However, if we moved within the Borough, then that could be overcome with the new ground offering "community services" which would offset and realise the full commercial value of LR stadium for housing? I guess it value would be limited if we decided to leave the borough?

Google London Borough of Hamnersmith and Fulham / Council Agenda H&F democracy / 20 July 2016

Page 62

5.37 The Queens Park Rangers (QPR) football ground at Loftus Road is a cramped site
with limited opportunity for expansion, and the Club’s ambitions should be considered in
planning of this area over the next 20 years. The football stadium is a valued community
asset for the White City community and the pitch is designated as openspace. Therefore
any redevelopment of this site would need to include a sport/community/leisure facility
that could achieve substantial benefits for the community as well as open space. The TA
Centre is a low intensity use of land which could be better used given its location. The
opportunity for a development to facilitate estate renewal should be considered if the TA
facility can be relocated, but development must also contribute to the objectives for
regeneration of the area, including housing for local people.

Page 139

"6.146 The council wishes to retain professional football in the borough, because it
provides a major source of entertainment and contributes to the life of the community. The
council is only prepared to consider re-development proposals for professional football
grounds if they make provision for continuation of professional football or other field-based
spectator sports at that ground. If it can be demonstrated that professional football or other
field-based spectator sports are no longer viable there, the redevelopment should include
provision for other community service uses in accordance with other policies in this Chapter."

[Abseits]

It would obviously be a contentious parcel of land to develop and I'd guess the planning department of any local authority would stick their noses in. BUT, HM Gov is supposedly committed to building loads of houses/flats and is very happy to override the esoteric wishes of leftie councils wishing to build peace gardens and community hubs instead of housing.

I think it would be easy to fit 3 or 4 blocks of flats on the footprint of LR, height limited to the height of existing stands so they'd be similar in dimension to the White City blocks. I reckon that's at least 150 1-2 bed flats. That's going to be what, £50 to £100 million worth of property? It's a prime residential central London site with existing links and infrastructure. I strongly believe a committed seller and eager developer could get it rubber-stamped. Basically, I do not think that leaving and flogging LR are the showstoppers.. it's finding a new home I think.

[SheepRanger]

It would obviously be a contentious parcel of land to develop and I'd guess the planning department of any local authority would stick their noses in. BUT, HM Gov is supposedly committed to building loads of houses/flats and is very happy to override the esoteric wishes of leftie councils wishing to build peace gardens and community hubs instead of housing.

I think it would be easy to fit 3 or 4 blocks of flats on the footprint of LR, height limited to the height of existing stands so they'd be similar in dimension to the White City blocks. I reckon that's at least 150 1-2 bed flats. That's going to be what, £50 to £100 million worth of property? It's a prime residential central London site with existing links and infrastructure. I strongly believe a committed seller and eager developer could get it rubber-stamped. Basically, I do not think that leaving and flogging LR are the showstoppers.. it's finding a new home I think.

I would guess it going to be very hard to finance a new stadium without some serious wedge coming from the sale of LR. I hope we stay within the borough, incorporate community facilities in a new stadium and get top dollar for LR.

But personally, Im happy being a championship club and playing out of LR. Hopefully our transfer dealing over the next 5yrs will make us a sustainable club. If we can get one season in the premiership every ten years to help with that then happy days. Im probably in a minority though.