Michelmores acts for Yelverton Properties Developments Ltd. on £3.5m stadium improvements to Exeter City FC's St James Park
Michelmores' Real Estate team is advising commercial property development and investment company, Yelverton Properties Development Ltd (Yelverton), on its St James Park development at the home of Exeter City Football Club.
After over two years of incredibly complex negotiations around the land planning and funding of the works, Yelverton and Exeter City Football Club have now confirmed that work will start on the Football Club's stadium improvement project this summer.
All contracts to commence the work have been put in place and Yelverton's contractors, GL Events, are scheduled to commence construction in June 2017.
The project will see the demolition of the existing Old Grandstand and the construction of a new stand, offering a much enhanced fan experience – with no pillars to obstruct the view and vastly improved toilets and refreshment facilities. Further revitalisation to the football ground will also include improvements to the club changing facilities and new toilets at the Big Bank stand.
In addition, adjoining land towards the back of the ground's Big Bank stand has been sold to facilitate the works. This will be developed into student accommodation by GSA – providing accommodation for over 300 students at the University of Exeter.
Partner Joanna Damerell, who is leading the Michelmores team, commented:
"We are delighted to have provided legal advice and assistance in connection with the St James Park development, which is set to culminate with the commencement of the stadium redevelopment works this summer. It has been an exciting, albeit challenging process with many complexities along the way – but we have been pleased to support Yelverton Properties throughout. The project will see much-needed improvements to the football club, whilst helping to further revitalise a key area in Exeter, with its purpose-built student accommodation."