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NEW COMMUNITY STADIUM: What Does Tuesday's Decision Mean?

1 March 2017

Director John Fenty tells us what Tuesday's decision by North East Lincolnshire Council means for the project.

"I'm delighted to update you with regards relocation," he said. 

"The council today (Tuesday) unanimously approved Peaks Parkway as the key location.  What they are agreeing to do is give an option for five years to Extreme, who are the developers. 

"I've got to tell you that is great news. It's given us the chance to progress."

What does the decision mean? 

John continued: "It is to acquire the site at approximately three times the book value. Things have moved a little bit, which is good, so we clearly know where we are."

The club will own the stadium.   

"That will then be site ownership so it won't be a rented stadium, it will ultimately be club ownership. The delivery of the stadium is wholly reliant on an enabling development. That's going to be centered around some leisure, a little bit of retail - ancillary retail probably -  to the houses that will be built in that same location.  We are anticipating a quantum of around 1400 - 1600 houses - but not necessarily all at Peaks Parkway.  We are looking at other parts of the borough to make the overall scheme happen. 

"The key thing is that we will be able to unlock an enabling development that can only deliver the community stadium, and no more.  That will have to be demonstrated through auditors and through the planning process.

"The main objective is to deliver relocation within three to four years (hopefully three). The developer is quite buoyant about that, believes that they can do it.  We are all hopeful in that regard, but the objective is to create jobs, low cost housing, starter homes, and give people an opportunity to get on the housing ladder."

What happens now?  

"We've now got to get a legal agreement between the council, the club and Extreme. That's what was agreed today (Tuesday). That will probably take two to three months. In the meantime, there will be some work going on - that's never stopped. It will now be to bring the party's together with the knowledge that we've now got a preferred location, which is Peaks Parkway, we've also got approval from cabinet.   

"There is a chance that some ward councilors - I believe from Park Ward - may call the decision in.  If they do,  I would like to believe that it would simply go through 'due process' and in no time at all it will again be reconsidered by cabinet and approved.  

"My gut feeling is now that we are pretty safe, we've got a done deal, as far as I can see with Peaks Parkway and we've got a real opportunity to move forward. 

Watch the full interview with John Fenty.
 

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