According to research from an estate agent comparison site Manchester United’s Old Trafford pitch is worth £20.6m and way behind Chelsea who are tops at a whopping £70.2m
As the race to purchase Stamford Bridge heats up, research from estate agent comparison site, GetAgent.co.uk, has revealed that it sits top of the Premier League Property table when it comes to the value of its hallowed turf in relation to local property market values.
GetAgent analysed the square footage of every premier league football pitch and what this equates to in terms of current property market values in each stadium postcode, as well as the number of homes it could hold based on the average property size in each area.
While Stamford Bridge may have received some negative press in recent weeks, there seems to be no shortage of potential buyers in the running, with the Ricketts family one of the latest frontrunners in the bid to buy the club.
Most expensive turf
Hardly surprising, given GetAgent’s research shows that Stamford Bridge is by far the most expensive in the Premier League. With property values currently sitting at £946 per square foot in the SW6 postcode and the pitch itself spanning 74,282 square feet, that’s a total value of £70.27m.
Arsenal’s Emirates Stadium sits second in the league in this respect, with the Emirates pitch worth £59m based on current market values in the N7 postcode.
Brentford (£45.4m), West Ham (£41.8m) and Tottenham (£41.3m) come next, with Brighton ranking as the highest team outside of the capital with a pitch property price value of £36m.
At the other end of the league, Everton’s poor form is also apparent in the property market with their pitch totting up just £7.4m in value, with Liverpool only marginally higher at £7.5m.
Manchester City’s Etihad pitch is worth £14.4m.
Most new homes
When it comes to the most new homes that a single premier league pitch could deliver to the local market, it’s West Ham that tops the table. With the average home in Newham coming in at 629 square feet, you could fit 122 homes on the London Stadium’s pitch.
Leicester also ranks high in this respect with enough space to fit 116 homes on the pitch at the King Power, along with Tottenham (117), Southampton (114), Arsenal (114) and Man City (113).
Interestingly when the Glazers took charge of Man United in 2005 house prices before then was £175.150 soon after the arrival of the Glazer family house prices jumped 4%.
As for Manchester City when Sheikh Mansour took charge of the club in 2008 house prices before then was around £131,173 and soon after house prices fell a whopping 11%.
Takeover House Price Boost
But what could a Stamford Bridge takeover mean for the local property market? Well, GetAgent’s research suggests that things could look even better for homeowners in SW6. GetAgent analysed house price growth surrounding 20 Premier League stadiums following high-profile takeovers.
The research shows that on average, property values increased by 5%, however, following Joe Lewis’ takeover of Tottenham in 2001, local house prices saw a 19% increase. House prices also boomed by 16% following Joshua Harris’ takeover of Crystal Palace in 2015, while there was a 13% increase in local property values when Tony Bloom took over Brighton in 2009.
Founder and CEO of GetAgent.co.uk, Colby Short, commented:
“It’s fair to say that the purchase of Stamford Bridge is far from your average property purchase, particularly given the circumstances. But it certainly seems to be attracting a number of strong bids and who can blame them when the pitch alone is worth over £70m in local market values.
Of course, the football club itself is an integral part of the local community and its value stretches far beyond bricks and mortar or annual shirt sales, so let’s hope that whoever purchases it doesn’t intend to turn it into flats.”