SGI secures OakNorth funding for Olympic Legacy Park stadium

Scarborough Group International (SGI) has secured a £2.7m loan from OakNorth Bank to support the development of the new community stadium at Sheffield Olympic Legacy Park.The capital will be used to fund the development of a new community stadium at Sheffield Olympic Legacy Park, supporting Sheffield City Council’s long-term ambition for the area.The Legacy Stadium, which will eventually have capacity for up to 3,900 spectators, will include a three-storey, covered stand alongside 23,000 sq ft of flexible business space and ancillary facilities. When complete it will become a permanent home to Sheffield Eagles Rugby League Football Club.Sheffield Olympic Legacy Park is a major economic development project that will comprise the regeneration of about 200 acres of the Lower Don Valley industrial area.SGI signed an agreement with Sheffield City Council in December 2020 to develop a masterplan for about 850,000 sq ft of commercial space at the park.In addition to the Community Stadium, which is currently on site and due to complete in February 2022, the developer intends to submit a planning application for the first phase of the scheme, which will feature a circa 40,000 sq ft Enterprise Centre to support fledgling businesses in the health, wellbeing, sport and activity sectors, by the end of the year.