Category : Commercial General property news
Sheffield United Football Club has revealed that it has secured the finance to proceed with a property development next to its Bramhall Lane stadium.
The club, nicknamed the Blades, has secured a finance facility of £13.5 million from Halifax Bank of Scotland to construct a 158-room Copthorne Hotel in the city, reports the Business Desk.com.
Club chairman Kevin McCabe explained that property investment was part of a strategy to increase income for the club as it planned to return to the Premier League.
He said: "The development of the Blades [the club's nickname] as a leisure, services and property company with an international portfolio of football brands at its core has progressed."
A number of other football clubs have made similar property development moves involving the creation of their own hotels, including Manchester United, Chelsea and Reading.
The Sheffield venue may enjoy the advantage of being located in close proximity to the city centre.
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