SPORTS-LED DESTINATIONS AND THE PROPERTY MARKET
The cornerstone of any emerging residential destination is, without a doubt, regeneration. The London 2012 Olympics proved just how sports-led regeneration, in particular, can transform an area and elevate its status on both local and international stages.
Now, areas across London, and indeed the whole of the UK, are following suit, driving attention and investment by creating sporting landmarks in both up-and-coming and established locations.
Take a look at the sports-led scheme that’s set to take South-West London by storm.
A Brand New Football Stadium for AFC Wimbledon
Wimbledon’s famous dog track is set to be transformed into a brand new football stadium, where AFC Wimbledon will take its residency from 2019. The new £25m stadium is expected to hold an audience of 11,000, with the hope of being able to accommodate a capacity of 20,000 in the future. Construction on Plough Lane is due to commence in the summer of 2018, which will run alongside the building of 602 new apartments surrounding the stadium. Residents of this development will enjoy landscaped green squares, new retail stores, a fitness complex and a six-court squash club.
Stadia Three – the first phase of homes, comprising 114 one, two and three bedroom apartments – are now selling off-plan with an anticipated completion of 2021; by which time, investors are likely to have seen impressive exponential growth.
Galliard’s Planning and Development Director Mike Watson states: “The new homes will include affordable housing for local people and will make a significant contribution towards Merton’s own minimum 10-year target for new homes and the regeneration of this part of Merton.”
Wimbledon fans and South-West London residents alike are overjoyed at the anticipated return of AFC Wimbledon to their namesake home. The original Wimbledon FC were forced to leave their grounds on Plough Lane in 1991 and went on to share Selhurst Park with Crystal Palace until 2003, before moving to Milton Keynes and renaming themselves as the ‘Milton Keynes Dons’. AFC Wimbledon was formed as a result of ongoing support from dedicated Wimbledon fans and the team is currently based in Kingston-upon-Thames.
The move back to Wimbledon represents a transition back to the team’s ‘spiritual home’ as well as a brand new era of successful regeneration, investment potential and residential desirability in a coveted South London location. Home to the oldest tennis tournament in the world, Wimbledon is already heavily affiliated with the sporting world, so the opening of this new football stadium will only amplify this hub’s presence and notoriety on the world stage of sport.