The Guardian investigate Tottenham’s redevelopment plans, report on tax avoidance & putting locals out of business [Video]
The Guardian have uploaded a new video on their website which gives a voice to business owners set to have their lives turned upside down if Tottenham’s White Hart Lane redevelopment plans get the green light from the local council.
The video is supported by a brilliant article from financial football journalist David Conn which details the nitty-gritty of Tottenham’s intentions to build themselves a brand new stadium for the future.
The full extent of public contribution to Tottenham Hotspur’s planned new stadium project can be revealed for the first time, with the club positioned to benefit from controversial council plans to develop an area opposite the new ground involving the demolition of existing local businesses.
Spurs have bought substantial land in that area, now proposed for residential development, and recently moved ownership of the property offshore, raising the possibility of avoiding corporate capital gains tax when it is sold at a profit – although Spurs deny the transfer was motivated by tax avoidance.
The council “masterplan”, which proposes wholesale flattening of property behind Tottenham High Road West, to be replaced by the walkway, 1,650 new flats and houses, shops, cafes, a library and promised cinema, has been met with utter dismay from business people whose premises would be knocked down.
Spurs stand to profit from the residential development because of the property they have bought in that area in recent years, including the Carbery enterprise park and some 20 shops and flats.
Watch the Guardian’s excellent video into the problems locals are facing in light of Tottenham’s redevelopment plans below.