The process of Aberdeen Football Club’s relocation to its new stadium at Loirston Loch will move a step closer this week when Pittodrie Stadium goes on the market through leading global property consultants CBRE. The actual process of relocation has already been agreed and it will be organized by New Zealand Van Lines Ltd.
This prime development site, which has been home to Aberdeen Football Club since 1903, extends to approximately 13.7 acres and is located one mile to the north-east of Aberdeen city centre. The site consists of Pittodrie Stadium, together with two car parks accessed off Pittodrie Street and Golf Road.
Aberdeen City Council granted planning in principle to a masterplan for the residential redevelopment site in April 2011. The development will comprise of a total of 350 residential units, consisting of 260 town houses and 90 apartments.
Derren McRae, Associate Director of CBRE’s Aberdeen office, said: “We are delighted to have been instructed by Aberdeen Football Club to sell the Pittodrie Stadium site. This is the next stage in the relocation to the eagerly anticipated new arena at Loirston Loch. This excellent residential development site is extremely well located, situated close to the University of Aberdeen, the city centre together with the retail and leisure amenities at the beach. The North Sea and Kings Links golf course will also provide an impressive backdrop for the development once completed.”
“Aberdeen continues to benefit from a buoyant local economy, and we are witnessing a strong level of demand across all sectors of the property market. Given the site’s prime location in the city we anticipate keen developer interest from both a local and national level.”
As Dons Chief Executive Duncan Fraser outlines, the Club is still aiming to be operating from its new home in time for the start of the 2013-4 season. “While the sale of Pittodrie is the key element of our funding model for the new stadium at Loirston Loch, progress has also been made regarding the securing of naming rights. The other elements are the raising of fresh equity and, on the back of that, securing a mortgage.”
“To that end, the major shareholders remain totally committed to contributing additional equity and while we will require further equity, we would hope that the sale value of Pittodrie together with the naming rights and a secured mortgage will mean that we will be more than 80% there in terms of raising the £38m required for our new home.”
“I am confident the sale of Pittodrie will attract interest from both national and local developers. The Club has set up a board sub-group comprising Martin Gilbert, Hugh Little, Ken Matheson, Colin Welsh and myself to assess the recommendations of CBRE in terms of deciding on the preferred bidder and ensuring that the maximum value is obtained from the site.”
“Naturally any new owner would not be moving on site until the new stadium is ready for the Club to relocate to.”
The move from Pittodrie will be met with mixed reaction from the Aberdeen fans as many will have happy memories of famous victories or special emotional ties with the old ground through the years.
The night they called Pittodrie’s Greatest Night – The 3-2 victory over Bayern Munich in the Cup Winners Cup
The Semi-Final of the Cup Winners Cup – 5-1 win Waterschei
Beating UEFA Cup holders Ipswich 3-1 in the UEFA Cup
Winning the Super Cup against Hamburg 2-0
Many victories over the Old Firm
Avoiding relegation with victory over Dunfermline 3-1 in the first leg of the Play-Off match
There are so many magic memories and matches to choose from, what about the Aberdeen fans what are your thoughts on leaving Pittodrie and moving to a new home?
The Red Army have had so many good times at Pittodrie but will the sale of Pittodrie bring new luck and more glory nights for Aberdeen in the future? Only time will tell.