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The redevelopment Of Old Trafford could soon be announced

April 7, 2022
The redevelopment Of Old Trafford could soon be announced

Manchester United could look into the redevelopment of Old Trafford. But how would this impact the local area and the wider community?

The proposed redevelopment of Old Trafford includes dramatic plans put forward to rebuild the ground on the current site, as reported by Manchester Evening News.  

The club have discussed their options with planners, with the club open to a completely new stadium. Chief operating officer Collette Roche said: “Turning to stadium development, since the last meeting we have been assessing the capabilities of globally-leading consultants who want to help us develop a Masterplan for the modernisation of Old Trafford, with the ultimate aim of improving the matchday experience for fans. We have met with companies across a range of disciplines, including architecture, engineering, construction, crowd modelling, transport, security and many more.”

Chief operating officer Roche quoted, “We are hoping to appoint our preferred partners in the coming weeks; following this, we will be able to formally kick-off Phase 1 of the project, which will be focused on establishing the vision and objectives for the Masterplan.”

This follows on from new stadiums for Arsenal, Spurs and West Ham who now all boast 60,0000 plus capacity stadiums. Whilst Old Trafford remains the largest capacity football stadium in England, except Wembley, a regeneration of the stadium is long overdue.

The regeneration of a stadium usually has a positive impact on the local area, and not just because of extra jobs in the construction phase. They can be a catalyst for the regeneration of the wider community.

We have seen that the regeneration of East Manchester is in part due to the Etihad Stadium. Whilst Anfield’s expansion is part of a wider regeneration program for Anfield and its surrounding area. It is hoped that the regeneration of Old Trafford could create more regeneration in the local area.  Old Trafford is located in relative proximity to the city centre. It is also just across the river from Salford Keys, an area which has seen considerable gentrification due to regeneration initiatives. 

Regeneration initiatives are an important consideration when selecting property sites for investment purposes. This is because the inward investment makes the area a more desirable place to live. Which in turn, has a positive impact on property prices, pushing growth.  Esper Wealth seeks to identify the best locations for property investment. You can find out more on our page Bridge Building

Manchester has been the best performing city in the UK over the past five years as investors have turned away from London in an attempt to get better returns. Emerging hotspots in the Greater Manchester Area have seen considerable growth. There is currently a Housing Stampede in the Northwest with a massive upturn in prices. The anticipated growth isn’t just concentrated in the Northwest, Birmingham is expected to see a lot of growth due to better accessibility to London when HS2 is completed. This is why we announced that Esper Wealth Enters Birmingham Property Market.