Raiders $56 million Bunnings sale..

[Copa]

A great profit and shows the benefits of intelligent investment outside the business of rugby league.

https://www.afr.com/property/commercial/raiders-boot-property-goal-with-56m-bunnings-sale-20201211-p56msb
 

National Rugby League side the Canberra Raiders has almost doubled its money on a Bunnings warehouse investment after selling it to Home Consortium's newly floated Daily Needs REIT for $56 million.

The sports club paid $29.55 million in 2011 for the newly built large-format retail property in Sydney's Seven Hills as part of plans to expand its asset base  and create new income streams.

Property records show it was acquired through a subsidiary of the club's controlling entity, Queanbeyan United Rugby League Football Inc.

According to the Sydney Morning Herald, the Raiders also invested in two office buildings in Brisbane around the same time it bought the Bunnings. It is currently developing apartments, terrace houses and a new training venue as part of an $80 million project at Northbourne Oval in Canberra.

 

[Martyn Sadler]

On 13/12/2020 at 22:51, Copa said:

A great profit and shows the benefits of intelligent investment outside the business of rugby league.

https://www.afr.com/property/commercial/raiders-boot-property-goal-with-56m-bunnings-sale-20201211-p56msb
 

National Rugby League side the Canberra Raiders has almost doubled its money on a Bunnings warehouse investment after selling it to Home Consortium's newly floated Daily Needs REIT for $56 million.

The sports club paid $29.55 million in 2011 for the newly built large-format retail property in Sydney's Seven Hills as part of plans to expand its asset base  and create new income streams.

Property records show it was acquired through a subsidiary of the club's controlling entity, Queanbeyan United Rugby League Football Inc.

According to the Sydney Morning Herald, the Raiders also invested in two office buildings in Brisbane around the same time it bought the Bunnings. It is currently developing apartments, terrace houses and a new training venue as part of an $80 million project at Northbourne Oval in Canberra.

 

Someone has a good head for business.

But what I would really like to see is a Bankwest style stadium developed in Canberra.

I think they need a stadium like that in the nation's capital and, if they got it, the Raiders would really be a force in the competition.

[Graham]

The Bankwest Stadium is a model Raiders would do well to base a new stadium on.
Interesting that Canberra will get ACT govt. money when the new stadium is built.They presumably see investing public money in sports arenas, swimming pools, theatres, just like health, education and transport as being of pubic service.

Their current stadium is described as being on its last legs and is due for replacement in the mid 2020s. Like all else with public money it’s a case of priorities. Maybe the club’s investments will help to speed up the process?

[Clogiron]

1 hour ago, Graham said:

The Bankwest Stadium is a model Raiders would do well to base a new stadium on.
Interesting that Canberra will get ACT govt. money when the new stadium is built.They presumably see investing public money in sports arenas, swimming pools, theatres, just like health, education and transport as being of pubic service.

Their current stadium is described as being on its last legs and is due for replacement in the mid 2020s. Like all else with public money it’s a case of priorities. Maybe the club’s investments will help to speed up the process?

It is a great pity that unfortunately this country instead of taking their clapped out player's couldn't purchase some of their clapped out stadium's, the ones recently demolished and proposed to be replaced are veritable palaces compared to some in service over here.

[Copa]

6 hours ago, Martyn Sadler said:

Someone has a good head for business.

But what I would really like to see is a Bankwest style stadium developed in Canberra.

I think they need a stadium like that in the nation's capital and, if they got it, the Raiders would really be a force in the competition.

We were heading in the direction of building a fully covered stadium similar to the multipurpose Forsyth Barr Stadium in New Zealand. It was going to be in Civic which is the main centre of Canberra.

Unfortunately the scale and threat of loose asbestos blown into roof and wall cavities in the ACT in the 60s and 70s resulted in the government purchasing over 1000 homes to demolish them and conduct full site cleaning. The money was spent on this instead and future stadium plans are now on the back burner.

[Martyn Sadler]

15 hours ago, Copa said:

We were heading in the direction of building a fully covered stadium similar to the multipurpose Forsyth Barr Stadium in New Zealand. It was going to be in Civic which is the main centre of Canberra.

Unfortunately the scale and threat of loose asbestos blown into roof and wall cavities in the ACT in the 60s and 70s resulted in the government purchasing over 1000 homes to demolish them and conduct full site cleaning. The money was spent on this instead and future stadium plans are now on the back burner.

Hopefully not too far on the back burner.

I know Ricky Stuart was very outspoken about the need for a new stadium in the capital when he first visited Bankwest.

Is there a campaign by the Raiders' fans?

[Copa]

41 minutes ago, Martyn Sadler said:

Hopefully not too far on the back burner.

I know Ricky Stuart was very outspoken about the need for a new stadium in the capital when he first visited Bankwest.

Is there a campaign by the Raiders' fans?

There’s no organised campaign from Raiders fans that I’m aware of. I suspect we all realise it will cost a lot of money that we don’t have at the moment. The territory only has around 430,000 people and had to buy a 1000 plus houses and has built a light rail that will soon be expanding. Covid has also hit the coffers.

The ACT is however starting to develop land not far from where the new stadium will be located and there seems to be cross party support with regards to the location of the proposed new stadium.

The current stadium is away from pubs, restaurants and shops and even has kangaroos jumping through the crowds on some of the paths to the ground.

The proposed new location is in the centre of the city so it will bring a crowd of 7k to 20k many times a year to all the pubs, clubs and restaurants in there when either the Brumbies or Raiders play.

It’s the politics around paying for it that has become tricky.

[Clogiron]

19 hours ago, Copa said:

We were heading in the direction of building a fully covered stadium similar to the multipurpose Forsyth Barr Stadium in New Zealand. It was going to be in Civic which is the main centre of Canberra.

Unfortunately the scale and threat of loose asbestos blown into roof and wall cavities in the ACT in the 60s and 70s resulted in the government purchasing over 1000 homes to demolish them and conduct full site cleaning. The money was spent on this instead and future stadium plans are now on the back burner.

All those years spent under asbestos roofs at games plus the numerous other times I've come into contact with it from schools, garages, sawing sheets of it, re-lining brake shoes and so on makes me think that I have dodged a bullet with that one thankfully, up until the late 60s it was in widespread use in the construction & building industry so everyone of a certain age will have had some contact with it, now you have to have licensed teams trained and suited up like something from Doctor Who to remove the smallest piece of it at a astronomical cost. That's why there's a big problem with fly tipping of it.

[Martyn Sadler]

3 hours ago, Copa said:

There’s no organised campaign from Raiders fans that I’m aware of. I suspect we all realise it will cost a lot of money that we don’t have at the moment. The territory only has around 430,000 people and had to buy a 1000 plus houses and has built a light rail that will soon be expanding. Covid has also hit the coffers.

The ACT is however starting to develop land not far from where the new stadium will be located and there seems to be cross party support with regards to the location of the proposed new stadium.

The current stadium is away from pubs, restaurants and shops and even has kangaroos jumping through the crowds on some of the paths to the ground.

The proposed new location is in the centre of the city so it will bring a crowd of 7k to 20k many times a year to all the pubs, clubs and restaurants in there when either the Brumbies or Raiders play.

It’s the politics around paying for it that has become tricky.

I'll look forward to seeing it, and even visiting it, one day.

One of the best developments for Rugby League in Oz has been the recent move by the NSW government towards developing boutique stadiums in the suburbs.