Tottenham Hotspur stadium
Tottenham have taken a significant step towards moving into their new stadium. THFC

Tottenham Hotspur have taken a significant step towards beginning work on their new stadium after reaching an agreement for the purchase of the final piece of land around the new site.

Archway Sheet Metal Works Ltd had initially objected to the compulsory purchase order, with the case involving the Premier League club being taken to the high court.

But Tottenham have now announced they have reached an out-of-court settlement with the metal company and are able to proceed with the building of the new stadium which is expect to cost £400m.

"Tottenham Hotspur Football Club, Archway Sheet Metal Works Ltd and the Josif Family (Archway) are delighted to announce that a private agreement has been reached for the purchase of Archway's property on Paxton Road by the Club," a statement read.

"In order to allow Archway to relocate its business appropriately, the Club will not take possession of the land until later this year."

The delay to the club taking full ownership of the land all but confirms fears Tottenham will be unable to start the 2017/18 season in their new ground as previously expected.

It increases the likelihood of the club spending the season at a temporary ground, with Wembley, the Olympic Stadium and Stadium MK, home of League One side Milton Keynes Dons, among the potential options.

Upon the announcement of the private agreement between Tottenham and Archway, chairman Daniel Levy said: "Our commitment is to find the best solution for the Club, our supporters and our community. It will be our new home for many years to come and we want it to be world class.

"We are aware that both our fans and the local community are eager to see the stadium delivered as soon as possible and we shall be working to do so.

"I must however urge patience in the interests of getting the best possible outcome for all and ensuring that we progress diligently. It is a hugely complex and large-scale project."