THE Wakefield area will benefit to the tune of £150m from Castleford Tigers’ sale of their existing ground and move to a new stadium in Glasshoughton, a report claims.
Tigers have planning permission for a state-of-the-art community venue off junction 32 of the M62.
They hope to fund the scheme through the sale of their current Wheldon Road ground – known as Probiz Coliseum – to a major retailer.
The club says “detailed assessments” undertaken on their behalf by Opus Land (North) Ltd and its financial partner Palmer Capital have revealed that facilities and workplaces in the entire five towns area will benefit from the proposed scheme.
Approval for a large retail store at Wheldon Road and a new stadium at Glasshoughton are each forecast to provide up to £25m capital investment.
Regeneration initiatives as a result of funds from private sources will create an additional £40m from commercial developments surrounding Tigers’ new stadium and planning approval already exists for a business park and hotel adjacent to the junction 32 site.
The new road which would link junction 31 to the stadium is also expected to be confirmed once the sale of the Probiz Coliseum is agreed, which will pave the way for more than 600 new homes and a further capital investment of over £60m.
The club say Opus Land (North) Ltd and Palmer Capital are in “advanced negotiations” with a number of food operators to agree proposals that will both trigger the regeneration of Wheldon Road and help to promote Castleford town centre.
A detailed planning application for the site is expected to be submitted to Wakefield Council by August.
Tigers chief executive Richard Wright said: “The detailed assessments undertaken have concluded that the regeneration that these schemes will provide will be a major boost for the local economy.
“The investment will not only benefit the town, but also the wider five towns area in the east of the Wakefield District.
“This is wholly dependent on securing planning permission for a retail scheme at Wheldon Road.”
Tigers hope to be playing in the new stadium in 2013.