Rec scheme to boost city home prices
A new rugby stadium on the Rec would boost house prices in the centre of Bath, according to estate agents. The market has levelled off in the last year but property experts would expect the development to contribute to a higher-than-average rise in values if it becomes a reality. The Stadium for Bath group are planning a permanent, 18,000capacity home for Bath Rugby which could also be used by the community on non-match days. The plans include the regeneration of the riverside behind the West Stand, potentially including cafés and restaurants, a charity hub in the East Stand and a raised pitch with a 600-800 space car park underneath it. Jack King, associate director for residential at Savills, said: “I couldn’t give you a percentage until the designs have been finalised, but I would say that it would make properties nearby more saleable and the nature of the beast is that it would make them more valuable. “Obviously, it depends on the buyer and I know some people living near the Rec are averse to a new stadium. “Bath is all about the rugby and the current offering at the Rec is not up to where it could be. “If it becomes more of a hub – with conferencing, the regeneration of the riverside etc – that would make it a more attractive place to go in Bath in general. “We have found in the past year or so that house prices have remained level. Notwithstanding the possible Brexit effect, in a normal housing market I would expect a new stadium to have a higher than average effect on prices in the area.” Property values near the current stadium, the East side of which is removed every summer, are already high. According to Zoopla, the average sale price for a property on Johnstone Street is £472,000. Pulteney Mews has average prices of £674,000 and Argyle Street £866,000. On Pulteney Road, prices range from £438,000 to £1.2 million. On Great Pulteney Street they range from £403,000 to £1.5m million, depending on what part of the road and whether they are flats or entire houses. In recent years, online estate agents Hatched and Easyproperty have both published studies reporting the positive effects of rugby stadia on the market, including Ashton Gate, the home of Bristol Bears, which has been redeveloped. David Mackenzie, a partner and head of residential at Carter Jonas, said: “For the scale of what I’ve seen and what it could bring to Bath, I think a new stadium would have a positive impact on pricing. “It would attract more people to the centre before, during and after games. Investment wise there is potential and it could lead to better transport links. “If you look at Cardiff (the Principality Stadium), where they built a new stadium in the centre of the city, it had a positive impact. “The flats built overlooking the County Ground in Bristol have also done very well.” Neither Mr King nor Mr Mackenzie thought a new car park under the ground would have a noticeable impact on house prices, positive or negative. The Rec is managed by the charitable body Bath Recreation Ltd. Stadium for Bath is made up of Bath Rugby, Bath Rugby Foundation and architecture and planning firm Arena 1865, which carries out work for the rugby club’s owner Bruce Craig. Proposed designs are expected to be finalised by the end of this year before a planning application will be submitted to Bath and North East Somerset Council.