It's all in the detail

Arsenal FC today admitted that ten per cent of the flats in their Highbury development remain unsold "and this number will increase to the extent that any pre-sold units fail to complete."

Their debt on this development alone is currently ? 133 million, and the repayment date for this debt (Apr 2010) is going to be missed and therefore re-negotiated - at a cost.

This football-related property development game, it's all a lottery I tell ya.

Posted By: jayson blair, Feb 26, 16:41:14