No bidders for the Mestalla Stadium in Valencia

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No bidders for the Mestalla Stadium in Valencia
By h.b. - Sep 20, 2007 - 6:19 PM
ALSO SEE : • Cabinet confirms financial aid for youngsters searching for rental accommodation - Nov 2, 2007 - 7:45 PM
• Junta sets up new Real Estate Commissioner for the Western Costa del Sol - Sep 28, 2007 - 8:52 AM

View of the Mestalla Stadium in Valencia - Photo Wikimedia
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Valencia Football Club wants to sell off the stadium and build a new one on the outskirts of the city, to take advantage of real estate profits
One of the effects of the slow down in the real estate market in Spain has been to dash the plans of Valencia Football Club, and especially their President, Juan Soler, to sell off the land where the club’s current Mestalla Stadium now stands, so that a housing development can go ahead.

The site is in a prime position in Avenida de Aragón, but the auction for it on Wednesday saw no bidders meeting the reserve price of 90 million €.

The club needs the funds to finance the construction of their new stadium and was hoping to raise 180 million € in profit by the operation. The future of the plan is now more than a little uncertain.

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ALSO SEE :
• Cabinet confirms financial aid for youngsters searching for rental accommodation - Nov 2, 2007 - 7:45 PM
• Junta sets up new Real Estate Commissioner for the Western Costa del Sol - Sep 28, 2007 - 8:52 AM
• Government wants new express eviction plan to stimulate the rental market - Sep 27, 2007 - 8:47 AM
• Three charged in Marbella Real Estate case - Sep 27, 2007 - 8:27 AM
• Thousands demonstrate for better housing across Spain - May 6, 2007 - 10:39 AM
• Fall in housing sales in Madrid - Apr 6, 2007 - 7:01 PM
• Partido Popular is gathering information on alleged real estate irregularities in Chiclana - Apr 2, 2007 - 8:13 PM

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