Tynecastle sale set to kick-start massive interest

The Gorgie club has called in consultants to look at the potential redevelopment of the site that has been its home for 125 years as it considers whether to move into a new purpose-built stadium.

The sale of the ground could bring in a multi-million-pound receipt that would help to pay for any new ground.

Members of the city council's physical development support team have been working with the club to assess what options there are to develop Tynecastle.

Councillor Tom Buchanan, the city's economic development leader, admitted that the site will prove extremely attractive to companies looking to create a major new mixed-use development, likely to include retail and hundreds of homes.

But he also dismissed a pledge by Hearts' Lithuanian director Vitalijus Vasiliauskas that any new site would be "walking distance from Tynecastle" by pointing out that there are no sites big enough for a football stadium anywhere near the club's current ground.

Cllr Buchanan said: "We want to help them with their aspirations. But we have a duty of care to the people of Gorgie to ensure this is a planned move. We have to look at what the options there may be. We are the planning authority so we have guidelines of what can and cannot go on that site."

When asked if he thought Tynecastle would be attractive to developers, he said: "Absolutely. It is not far from the city centre and next to a brand new secondary school."

However, property experts said it may take several years before the club would be able to get a good price for the site.

Charles Guest, a partner at Ryden, said: "I would have thought that the most likely alternative use is housing and, given that we are around the bottom of the market, it would make sense to get planning consents now with a view to selling it a couple of years on."

In a council report published today, Dave Anderson, director of the council's city development department, said: "Consultants commissioned by Hearts will be carrying out an assessment of a number of potential development options."