Although it has been widely reported that West Ham will rent the Olympic Stadium a minimum 20 days per year, it has been under reported that we will have large areas of the Stadium dedicated to us 365 days per year over the next 99 years at the new stadium.
West Ham Vice Chairman Karren Brady has touched on this subject in her statement in the annual financial accounts published earlier this week.
Baroness Brady says: “There is an immense amount of work going on behind the scenes in preparation for our move in 2016. As the plans take shape it becomes even more apparent that our new home will be one of the greatest arenas in world football and a platform to transform the future of our great club. From a technical perspective contracts for the conversion work, roof, mechanical and electrical, retractable seating and the enabling works have been completed. The new roof has been installed, as has the retractable seats and the turnstiles, concessions and other facilities all moved inside the stadium in keeping with a traditional football stadium. The dressing rooms are almost complete as well as other facilities for players and the management team. We have selected a premium hospitality fit out which will include The Boleyn Bar, the Arnold Hills Lounge the BM6 amongst others, and we have designed the new club megastore which with 12,000 sq ft of floor space it will be almost 3 times of the current size of the club shop. A new stock warehouse will be added, as well as a pick and pack internet distribution warehouse which will make our retail business more robust and easy to expand. Lastly, new offices, a new call centre and ticket office will start being built in January 2016″
Planning documentation shows that the Hammers retail store is 700 sqm while the West Ham office area is 4000 sqm
At the going rate of £39.50 per square metre per annum in Stratford this space is worth around £185,650 in rent to the Hammers which we assume is included in the Irons £2.5m rental agreement.