Sports village will boost city's image

18/05/2011

Commercial property experts believe the region could benefit from Assem Allam's proposed development at either the KC Stadium or Melton.

The football club owner as unveiled plans to build a hotel, tennis, squash and gymnastics facilities and Olympic-size swimming pool on either site.

His preferred option is to expand the KC Stadium by up to 10,000 seats to 35,000 and build the sports village around it, costing about £114 million.

But he first wants to buy the stadium from Hull City Council who are planning to hold a referendum on the issue.

The Melton proposal would cost about £161 million and involve building a new stadium on land east of Brickyard Lane, with an accompanying sports village.

Dave Garness, surveyor at Garness Jones, said either plan would act as a boost to Hull's property market.

Mr Garness said: "What we're talking about here is improving the perception of inward investment in the city and that is what we're all interested in and hence why Siemens and renewable energy companies coming here is a good thing in my mind.

"When big companies look at whether to invest in this area they won't see a differential between Melton and KC.

"They are more likely to invest in the area if they can see others doing it."

Tom Penrose, partner at PPH Commercial said the development must be a commercial enterprise attracting more than sport to the area if it is to boost Hull's economy long term.

He said: "The KC Stadium hasn't generated a lot of spin off other than the sports element, it hasn't attracted lots of events in the way it was originally intended.

"The stadium was meant to be like the Sheffield or Manchester Arena but it hasn't quite turned out like that.

"This Sports Village will provide employment but it is not making anything so it will not have a huge spin off like the wind turbine project on Hedon Road unless there is some wider commercial use like if they have conference facilities alongside it.

"You have got to think about how it is used.

"The Sports Village will improve the image of Hull as a city but whether that translates into commercial benefit depends on the way the stadium and facilities are used."