But perhaps this nation's fondness for all things sporting is a subliminal force fuelling our current apparent obsession with acquiring English property steeped in the history of soccer football.

How else to explain Irish investors this year shelling out in excess of 100 million for residential properties in developments at Highbury and Wembley in North London, both shrines of the beautiful game?

Property investors from this country have already paid out more than Stg £40 million to be part of the planned transformation of Highbury (home to Champions League runners-up Arsenal until earlier this month) from a football stadium to a highquality residential development. Selling agents predict that Irish clients will invest an estimated £60 million in the Wembley project.

"The Stadium, Highbury Square" will be a collection of studios, one-, two- and threebed apartments and penthouses set within the art deco surrounds of the Gunners' former football ground.

The redevelopment is part of a regeneration programme for that part of north London.

The Highbury Project Islington, which will transform 60 acres, includes new leisure and retail spaces as well as Arsenal football team's new ground, the state-of-the-art Emirates Stadium at Ashburton Grove, less than a mile from the club's old home.

"A few of our clients have bought to avail of the option to purchase a season ticket for the new stadium, but, for most, it's a hard-nosed business investment, " says Seamus Mannion, managing director of Mannion auctioneers, sole Irish selling agents for the Highbury and Wembley developments.

Some apartments are still available for sale in the East Stand section of the 650-unit development. One-bed units measuring between 550 sq ft and 650 sq ft are available from £310,000 upwards, while two-beds measuring between 655 sq ft and 900 sq ft cost from £420,000.

The development's outstanding feature will be the central landscaped gardens fashioned on the exact site of the club's renowned tonsured sward (which was the best playing surface in the Premiership, most top-flight footballers agree) and created by Christopher Bradley Hale, Gold Medal winner and Best in Show winner at the Chelsea Flower Show.

"The gardens have been a unique opportunity for me, " says Bradley Hale. "We wanted to preserve the essence of the stadium, but also create a focal point every bit as engaging and mesmerising as its heritage. Most importantly, given its heritage, the garden had to instil a sense of pride for where you lived.

"I've tried to combine the sense of European spaces with English traditions, using native hedges and trees. They are chosen to express the seasons as the year goes by."

Many Irish investors in the development already own property in London, according to Seamus Mannion. "We sold another scheme in Clapham recently and quite a number of clients who bought into it did very well, so they've come back for more.

"London's been stagnant for about three years, but things are picking up and now's a good time to buy."

Giant steel arch THE giant steel arch over the new Wembley trademarks the stadium as distinctively as the famous Twin Towers did the original home of English football. The arch . . . so high that the London Eye would fit underneath . . . dominates the northwest London a testament to the scale of the £4 billion redevelopment plan for the area.

As well as the new stadium, now due for completion in 2007, plans for the 70-acre site includes plans for a world-class entertainment complex featuring a luxury hotel, cinemas, swimming pools, designer shops and restaurants.

Outline planning consent has been granted for the development, in which 910,000sq ft has been set aside for office space and 424,000 sq ft for retail units.

4,200 new homes, mostly apartments, are planned around a series of landscaped courtyards.

Mannion auctioneers are selling 147 units in "WO1", the first residential block in the development. Almost 50 units have already been sold for the seven-storey building, due for completion next year.

"The phone is hopping on this one. People are taking them, " Mannion says.

A selection of studio, one-, two- and three-bed apartments are available in sizes ranging from 320 sq ft to 1,550 sq ft. Prices start at £143,500.

Parking available with some units will cost extra. All the apartments are heated by a water-based underfloor system, which also acts as an acoustic insulation.

"One of the big pluses for innovators buying in this development is the location, " Mannion says. "You have three tube lines right beside you and a transient population ready to rent exactly this type of accommodation.

"Most people buying these properties aren't even considering mortgages yet. All they're looking at is a 10% deposit: 5% now and 5% in six months time. You can worry about the mortgage in two years time, or flip it on if you feel like it."

A preview exhibition of the Wembley project organised by Mannion Auctioneers takes place at The Conrad Hotel in Dublin today.