Yahoo Finance New 999-year Millwall lease hailed as fantastic news for Bermondsey and London
Championship side Millwall have secured a new 999-year lease that should breathe life into London’s football scene.
The Bermondsey club are one of 14 London clubs currently in the Premier League and the EFL.
And despite having another 120 years on its current lease, the new near-1,000 agreement will lift red tape on redevelopment of their ground, The New Den, and the surrounding area.
The club have touted a 34,000 seat stadium and surrounding developments in their home in south London with the new lease agreement being hailed as a major development for the second-tier club, who finished this year’s Championship season in 13th.
‘Fantastic news for Millwall’
“These lease and development permissions are fantastic news for the future of Millwall FC,” Nick Hart, of the Achtung! Millwall Podcast, told City A.M.
“This news brings to an end a long period of uncertainty for the club and allows the Lions to cement its position as the beating heart of Bermondsey.
“Well done to both Lewisham Council, Millwall FC and the fans who campaigned so hard to collectively achieve this.”
The Millwall Community Trust is also now able to be relocated as part of the New Bermondsey project in a boost to the outreach branch of the club.
Beating heart of Bermondsey
Mayor of Lewisham Brenda Dacres said: “We are delighted to have reached a positive outcome, with a new, long-term lease that secures Millwall’s future in the borough. This has been a long process, and I’m pleased we’ve been able to work together to secure the relocation of facilities for the Millwall Community Trust and support our shared ambitions for this part of Lewisham.
“I look forward to working with Millwall Football Club on their plans for the land around the Stadium, to unlock much-needed homes as well as new leisure and community spaces.
“Both Millwall Football Club and the Millwall Community Trust contribute immensely to our local community and provide life changing opportunities for so many in our borough. We look forward to continuing to support their important work.”
And the potential redevelopment of Millwall is the latest project in a face lift for London’s stadiums.
Fulham have recently completed construction of their Riverside Stand at Craven Cottage, fit with a swimming pool, while Chelsea and All England Club home Wimbledon are outlining ambitious redevelopment plans for the future.
Crystal Palace have early plans in place for an expansion at Selhurst Park while Charlton are a way off any changes to the Valley despite intent to develop their ground. Rumours of a QPR move from Loftus Road remain decades off, according to reports.
Chief executive
CEO of Millwall Football Club, Steve Kavanagh said: “This is incredible news for the football club and everyone associated with it.
“A remarkable amount of hard work has gone into getting to this stage and I’m grateful to Mayor Brenda Dacres, her predecessor Damien Egan, various other personnel at Lewisham Council, our property advisors, the Board, and all those who have also contributed at different points in the process.
“Possessing development rights on the land around The Den, along with the rights to draw down leases of 999 years, provides the club with an array of opportunities to benefit supporters on matchdays, enhance capabilities on non-matchdays, and, more generally, assist with ongoing efforts to develop existing and find new revenue streams. As well, and crucially, it cements our position as a community asset by placing the club at the forefront of the wider redevelopment.”
