ABERDEEN STADIUM UP FOR SALE

Aberdeen Football Club's relocation to a new stadium at Loirston Loch is making progress after the club put Pittodrie Stadium up for sale.

The 13.7 acres development site has been home to Aberdeen since 1903 is located one mile to the north east of Aberdeen city centre. It consists of Pittodrie Stadium, plus two car parks accessed off Pittodrie Street and Golf Road.

Aberdeen City Council granted planning in principle to a masterplan for the residential redevelopment site in April 2011.The development will comprise of a total of 350 residential units, consisting of 260 town houses and 90 apartments.

Dons chief executive Duncan Fraser said: "While the sale of Pittodrie is the key element of our funding model for the new stadium at Loirston Loch, progress has also been made regarding the securing of naming rights. The other elements are the raising of fresh equity and, on the back of that, securing a mortgage.

"To that end, the major shareholders remain totally committed to contributing additional equity and while we will require further equity, we would hope that the sale value of Pittodrie together with the naming rights and a secured mortgage will mean that we will be more than 80% there in terms of raising the £38m required for our new home.

"I am confident the sale of Pittodrie will attract interest from both national and local developers. Naturally any new owner would not be moving on site until the new stadium is ready for the Club to relocate to."

Aberdeen plan be operating from its new home in time for the start of the 2013/14 season.

Posted on 05/10/2011