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York Community Stadium wins Property Deal of the Year Award

18 April 2018
York Community Stadium
The redevelopment of York Community Stadium by Wrenbridge Sport has been named Property Deal of the Year 2018 at the Property Week awards. Wrenbridge Sport were advised on all aspects of the deal by international legal business DWF.

The deal, which was signed up when forward funding was secured via L&G in November 2017, includes the delivery of a new 8000 seat stadium, retail space, five new restaurants, a thirteen screen IMAX cinema and new community leisure facilities.

The project was four years in the making with Wrenbridge Sport working with leisure operators Greenwich Leisure Ltd and York City Council with funding via L&G. Over 120 legal documents needed to be entered into simultaneously in order for the deal to work.

The project suffered a series of challenges including the original contractor withdrawing, funding being lost due to uncertainty around Brexit and a legal challenge against the planning consent. However, the drive and determination of Wrenbridge Sport, along with the rest of the consortium and teams of professional advisers, ensured that these issues were overcome to bring the landmark scheme to the city of York.

The project is now live with construction underway on a £41m build contract and due for completion in 2019 so the football and rugby clubs can move in the following season.

The DWF team was led by Head of Real Estate Toby Askin.

Toby said: "We are delighted that everyone's hard work and determination in bringing the York Community Stadium project to fruition has been recognised with this award for Property Deal of the Year by industry magazine Property Week. This project represents a fantastic addition to the vibrant city of York."

 York Community Stadium

(Image: York Community Stadium by Wrenbridge Sport)

Further Reading