The redevelopment, which also involves the Lock Stand, will take the capacity of the stadium beyond 25,300, making the Kia Oval the second largest cricket ground in the country behind Lord’s.
Estimated to cost £10m, the club intends to finance the project, in part, through the Surrey County Cricket Club Bond – a new fixed-term, five-year investment offered at 5.5 per cent gross interest per annum. A roof terrace has also been designed for the Peter May Stand for use by members at domestic games and hospitality at others. Construction on this project is set to be completed by May 2016.
The Lock Stand, meanwhile, is to be demolished although Surrey are set to rename the Laker Stand as the Lock/Laker Stand in continued honour of spin duo Tony Lock and Jim Laker.
Surrey, meanwhile, who have already qualified for Royal London One-Day Cup last eight, lost to Somerset in their penultimate group-stage match yesterday.