Newcastle United has completed the purchase of a significant portion of the historic Leazes Terrace building next to the club’s St. James’ Park stadium.
Newcastle United said the acquisition of a substantial majority of the Grade I listed structure includes its northern, southern and western elevations – including all areas facing the stadium.
It also includes most of its eastern elevation, with a small block of private residences remaining in this part of the building.
The strategic purchase is part of the club’s long-term planning as it continues to assess “all credible and feasible options” for the future of its home stadium.
Newcastle United Football Club is a professional association football club based in Newcastle upon Tyne, Tyne and Wear, England (UK). The club competes in the Premier League, the top tier of English football.
St James’ Park is a football stadium in Newcastle upon Tyne, England (UK). It is the home of the Premier League team Newcastle United F.C. With a seating capacity of 52,305 it is the eighth largest football stadium in England.
The Magpies have been weighing up the future of their home ground since 2024, with the two initial options being to redevelop the iconic St James’ Park or to construct a new stadium at the nearby Leazes Park site.
The club said the Leazes Terrace building purchase provides it with greater flexibility and ensures any future decisions support Newcastle United’s ambitions, as well as its responsibilities to the local community and the city of Newcastle upon Tyne.
The club said it recognises the building’s historic and architectural significance and is committed to its preservation.
There are no plans to change the current use of Leazes Terrace, which is currently let for student accommodation, and the club will retain the building’s existing property management operator.
The investment to purchase the Leazes Terrace building does not impact the club’s football trading position.
The club is believed to have spent between £20-25 million ($26.8-33.5 million) to acquire a significant portion of the buildings.
A cash injection from Newcastle’s ownership — Saudi Arabia’s Public Investment Fund (PIF) has an 85 per cent majority stake, while the billionaire Reuben Brothers have a 15 per cent minority share — has at least partly funded the acquisition.
The Athletic has been told by sources that the message from inside the club is that the focus has not suddenly shifted towards prioritising the expansion of St James’ over moving to a new, state-of-the-art stadium.
Theoretically, however, the purchase should make expanding the East Stand slightly easier, should Newcastle choose to do so as part of a wider enlargement and redevelopment of their home ground.
The Leazes Terrace building’s listed status is the primary reason why the East Stand has not been expanded since 1972. The Gallowgate End, the Leazes End and the Milburn Stand have all been redeveloped multiple times since, but the East Stand has not.
UK government Grade-I listed buildings are defined as those of “exceptional interest” and architectural/historical significance.
The club feels that owning the western side of Leazes Terrace potentially offers them a greater say in what the subsequent reimagining of the present St James’ footprint would look like.
However, the club is keen to stress that staying and leaving both remain live possibilities at this stage.
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