So finally some good news for Arsenal over at Highbury Square, the redevelopment of their former pitch. After months of rumours about failed completions, rights issues, and empty properties, it's good to get some firm figures out of the North London club.
In their annual results, published today, we learn that they have sold 208 units over the last year, meaning a total of 445 are now sold of the 655 private flats. This isn't a bad result for them - but you have to feel sorry for the club. A prime opportunity to build some swish flats on highly valued land quickly became the bane of their life. They completed far later than planned, the property market crashed and they couldn't sell them - and then financing quickly became a problem because they couldn't pay off the whopping construction loan.
But, things seem to be looking up. The homes are, after all, in a superb location, and if you are a Gunners fan, then they are a little piece of football history. In the boom years they would have been flying off the shelves. Nonetheless, in the last year, they made the club £88m in revenue - money they desperately need so they can get out there and buy some new players to fill an Adebayor-shaped hole on the pitch...
