Tottenham Face Shock Relegation – Arsenal Instated In Top Spot

Things just keep getting worse and worse for sorry Tottenham Hotspur. Research by Alliance Fund has found if the club needed to demolish its £1bn stadium for housing, it would generate just £256m.

This relegates THFC to a lowly place on the London football clubs’ property rich list. However, the Lillywhites still sit above the clubs that play outside of the capital.

Should the Premier League’s 20 stadiums be converted into residential housing, their current market value would sit at £2.466bn.

Alliance Fund looked at the residential property potential of each Premier League stadium based on the capacity of each ground, what this converts to in terms of the number of residential flats it could house and the current market value of these flats based on property values in each stadium postcode.

Arsenal’s Emirates Stadium ranks top of the league when it comes to residential property market potential. The Emirates has a capacity of 60,704 and based on the conversion of the club’s old stadium, Highbury, in which one flat was created for every 59 stadium seats, this means the Emirates has the potential for 1,027 flats.

Based on current market values in Islington’s N7 postcode in which the stadium is located, the current average value of a flat sits at £341,585, meaning the stadium holds the potential for £350.8m worth of residential property.

Due to London’s high house prices, the capital’s stadiums fill the top five spots for most valuable conversion potential, with West Ham’s London Stadium totalling £278 million, followed by Tottenham Hotspur Stadium (£256m), and Fulham’s Craven Cottage (£166m).

Chelsea’s home ground, Stamford Bridge, has a capacity of 40,853, meaning there is potential for 691 flats and, with an average flat price of £438,525 in the SW6 postcode, Stamford Bridge could be converted into residential flats with a total market value of £303m. 


Man U

Manchester United’s Old Trafford has the greatest value potential of all non-London premier league stadiums. Its league-leading capacity of 74,879 means there is room for 1,267 flats which would have a combined market value of £165 million.

This is followed by highflying Newcastle United’s St James' Park which has a value potential of £122 million.

The Premier League stadiums with the lowest potential conversion value are Bournemouth’s Vitality Stadium (£31m), Wolverhampton Wanderers’s Molineux Stadium (£37m).

Property prices in Liverpool mean that if Anfield were demolished, it could raise as much as £356.

Everton’s Goodison Park would make £37m. The club plans to move into a brand-new stadium for season 2024-25.


It’s still in Tottenham

CEO of Alliance Fund, Iain Crawford, says: “Football is the nation’s pastime and so evicting the top 20 teams in the nation to help address the housing crisis certainly isn’t what we are suggesting. However, our research does give some insight into the value of these football clubs and just what it takes to build and maintain a stadium fit for the very highest standard of football in England and Wales. Tottenham Hotspur famously spent £1bn on their new stadium …. but it is still in Tottenham!


Time to move

“Of course, there is a huge disparity between the top and bottom of the league but this further demonstrates the tough task facing many smaller clubs if they are to build the foundations for success which inevitably starts with the right facilities to meet the needs of the very best players and a growing fan base.

”At such a time, the existing stadium, having been replaced by a new one, will be empty. Smart developers will see this as an opportunity and just as we’ve seen with Highbury and even Battersea Power Station, they could be converted into living or mixed-use space at which point the values outlined in this research become very real indeed.”


Picture: An impression of Everton’s new stadium – which may not be enjoying Premier League football in the  near future at time of writing.

Article written by Cathryn Ellis
24th May 2023


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