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09/03/2017

Brexit To Blame For Soaring Costs On Tottenham's New Stadium

The construction cost of building Tottenham Hotspur's new stadium has doubled from £400 million to £800 million, it has been revealed.

The project, which is being delivered by Mace, will see a new 61,000-seat ground developed adjacent to the current White Hart Lane ground in North London.

However, in an email posted on www.skyscrapercity.com, Club Director Donna Cullen said the UK's decision to leave the European Union had increased the costs of materials on the development.

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Ms Cullen wrote: "Brexit has added a straight 20% on costs for foreign goods due to the exchange rate, overtime working and increased construction costs similarly. Revised basement works also added to the cost. We are constantly managing costs and will continue to do so throughout the process along with funding plans to ensure the viability of the scheme.

"It's worth remembering that the original cost quoted for the stadium was some seven years ago. This new 'estimated' figure relates predominantly to the stadium with some elements of substructure for the other builds particularly the Tottenham Experience."

The new stadium is scheduled for completion by August 2018.

(LM/CD)

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