Tottenham Hotspur and Archway Sheet Metal Works have finally concluded their protracted negotiations over the purchase of Archway's property. Spurs and the sheet metal manufacturer have released a joint statement on the Tottenham Hotspur website confirming the deal.
We are delighted to announce that a private agreement has been reached for the purchase of Archway’s property – http://t.co/85ZslAZjDI— Tottenham Hotspur (@SpursOfficial) March 31, 2015
Tottenham will allow Archway plenty of time to relocate their factory and will not take possession of the land until later this year. When exactly "later" is, remains unclear, however, knowing that there is likely a definitive date by which Archway must turn over possession to the club is a big victory for Tottenham. The one interesting note is that it appears the two parties have reached a private agreement, thereby removing the need for government involvement through a compulsory purchase order.
Archway's property has long been the final obstacle standing between Tottenham and a new stadium. Earlier this year, the two battled it out in court over the Borough of Haringey's Compulsory Purchase Order for Archway's land. Tottenham eventually won that court case, giving them plenty of leverage to take into the negotiations with Archway. It seems as though that leverage was all Tottenham needed. All that remains is for Spurs to actually take possession of the land and begin work on the new stadium.