Highbury stadium flats all sold

The capital's booming letting market has seen all the flats built at the former Highbury home of Premiership football club Arsenal snapped up, property firm London & Stamford said today.

Demand is such that L&S has also managed to push through 14% rent rises for new lettings among the 134 flats in the club's once legendary North Stand during the six months to September 30. In Battersea, the firm has enjoyed 13% rent rises.

"This is very encouraging rental growth in one of the few areas of the property market where rental growth is visible, and where demand remains strong," the company said.

The firm boosted its residential portfolio in August, buying 74 flats near the Oval for £24.4 million, and has already let 57 at rents more than 3% ahead of expectations. The firm is cautious about the economic backdrop but has a £700 million warchest to boost its portfolio, L&S added. Underlying profits rose 51% to £13 million.