Arsenal secures financial support from property arm : F.C. Business

Arsenal secures financial support from property arm : F.C. Business

Arsenal has secured another cash injection from its property business with the £26 million sale of a development site next to the club’s Emirates Stadium.
The Queensland Road site has been bought by developers Barratt and London & Quadrant. When completed the £128 million development will comprise three residential towers offering apartments ranging from studios to 1,000 square foot penthouses. The development will also include two fitness suites, a landscaped podium garden, commercial premises and a cafe.

Arsenal said the sale, which was completed by the club’s property arm, Ashburton Trading Ltd, will be reflected in its 2012-13 financial results. “This is another important milestone for our property business which has provided a consistent flow of income over recent years,” Arsenal chief executive Ivan Gazidis told the club’s official website, www.arsenal.com.