New Luton Town stadium moves closer after land sale

A new 23,000-seat football stadium is a step closer after land was sold to finance the project.

Planning permission for Luton Town's new home at Power Court was granted by Luton Borough Council in 2019.

The club's development company, 2020 Developments, has agreed a deal for Newlands Park, a 37-acre site at Junction 10 of the M1.

Gary Sweet, chief executive of Luton Town Football Club, said it was an "important milestone deal for us".

The club said the deal, agreed in October, "will go a considerable way towards securing funding" for the new stadium.

An investment fund advised by Morgan Stanley Real Estate Investing (MSREI) and developer Wrenbridge will take over the land, the club said.

Mr Sweet said: "Selling this land now means that the planned delivery of our new stadium at Power Court continues, moving us closer to realising our dream of delivering a new home for our football club."

Earlier this year revised plans for the Power Court stadium, which included more homes and less retail space, were approved.

A centrally located plaza and a "statement landmark" - a tall building which would allow fans to find their way to the stadium - will also be built.

The Newlands Park site was purchased by the club in 2015 as an "investment strategy to deliver a new stadium", chief operating officer at 2020 Developments, Mike Moran, said.

Current plans for the site include office, retail and business space.

Luton Town said MSREI, Wrenbridge and 2020 Developments were reviewing that plan to ensure it "meets the demands of modern occupiers and is deliverable".

The site's existing planning applications go before Luton Borough Council's development management committee meeting on 5 January.

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