Chelverton Properties has teamed up with BS Group and Hereford United to redevelop the football club’s Edgar Street stadium.
The joint venture company – Edgar Street Developments – has injected £500,000 into the club which was relegated from the third division to the Vauxhall Conference two seasons ago. Chelverton said the money would enable Hereford to complete a voluntary agreement with its creditors. BS gave over a similar sum 12 months ago.
The new company is to hold talks on the proposals with Herefordshire council, which is also the freeholder of the 6ha (15 acre) site. The plans could include a food superstore, non-food retail and a multiplex with the football club moving to a new ground.
Graham Hill at Chelverton said: “This is a prime central area development opportunity and we anticipate a strong demand from potential occupiers. We are still at a very early stage but are confident of reaching an agreement which is acceptable to both the council and Hereford United FC.”
Agents on the scheme are Chesterton in Bristol and Lunson Michenall in London.
EGi News 07/07/98
