Sneak Peak - RDS Redevelopment Plans

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The Doc
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Re: Sneak Peak - RDS Redevelopment Plans

Post by The Doc »

Is that new info?

I have always assumed the FAI only had a temporary share.

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the spoofer
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Re: Sneak Peak - RDS Redevelopment Plans

Post by the spoofer »

The Doc wrote:
March 28th, 2021, 4:43 pm
Is that new info?

I have always assumed the FAI only had a temporary share.

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Most of that is common knowledge and was available from the IRFU financial statements.

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the spoofer
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Re: Sneak Peak - RDS Redevelopment Plans

Post by the spoofer »

I'm not sure where to put this question but did the IRFU really pay €23m for the offices on Lansdowne Road? There is no clear statement in the accounts but there are Additions to premises and grounds of €23m and there isn't any commentary on it other than to say they bought the offices. The annual rental charge was €350,000 pa.

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Dave Cahill
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Re: Sneak Peak - RDS Redevelopment Plans

Post by Dave Cahill »

the spoofer wrote:
March 30th, 2021, 12:59 pm
I'm not sure where to put this question but did the IRFU really pay €23m for the offices on Lansdowne Road? There is no clear statement in the accounts but there are Additions to premises and grounds of €23m and there isn't any commentary on it other than to say they bought the offices. The annual rental charge was €350,000 pa.
If memory serves they bought them with part of the revenue from the Newlands Cross sale the reasoning being that if they own them then obviously they don't have to pay rent on them and they can be used to generate income through subletting and being used as security that would generate more value to the Union than just having the cash.

The IRFU do very financiery things with their money - for example they sold on the future income from the naming rights deal because even taking the haircut for the sale, they would get more value from having less money upfront than more in installements - and its really difficult for the layperson (like me) to work out what they are doing and why - but they seem to know what tehy are doing
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the spoofer
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Re: Sneak Peak - RDS Redevelopment Plans

Post by the spoofer »

Dave Cahill wrote:
March 30th, 2021, 1:09 pm
the spoofer wrote:
March 30th, 2021, 12:59 pm
I'm not sure where to put this question but did the IRFU really pay €23m for the offices on Lansdowne Road? There is no clear statement in the accounts but there are Additions to premises and grounds of €23m and there isn't any commentary on it other than to say they bought the offices. The annual rental charge was €350,000 pa.
If memory serves they bought them with part of the revenue from the Newlands Cross sale the reasoning being that if they own them then obviously they don't have to pay rent on them and they can be used to generate income through subletting and being used as security that would generate more value to the Union than just having the cash.

The IRFU do very financiery things with their money - for example they sold on the future income from the naming rights deal because even taking the haircut for the sale, they would get more value from having less money upfront than more in installements - and its really difficult for the layperson (like me) to work out what they are doing and why - but they seem to know what tehy are doing
But 350K/23M is a yield of 1.5%. Perhaps the rent was greatly undervalued but it's still just two houses on LR. I'm also not sure why we need to have our offices on LR, an office building in Sandyford would seem to work just as well. Seems like a trophy purchase. One issue is that there is no accountability or even means of questioning how the decision was arrived at.

erskinechilders
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Re: Sneak Peak - RDS Redevelopment Plans

Post by erskinechilders »

Does anyone know what the latest is regarding the RDS redevelopment? Has FPP been approved? Have we got the funding? Are we still waiting on the Capital Sports grant from the govt.?

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Blue not red blood
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Re: Sneak Peak - RDS Redevelopment Plans

Post by Blue not red blood »

Was looking at the Exeter game last Sat and saw the construction work, so I googled the redevelopment.
My God what a stadium they are rebuilding, while keeping a massive terrace
Well worth checking out

erskinechilders
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Re: Sneak Peak - RDS Redevelopment Plans

Post by erskinechilders »

Blue not red blood wrote:
April 7th, 2021, 10:16 am
Was looking at the Exeter game last Sat and saw the construction work, so I googled the redevelopment.
My God what a stadium they are rebuilding, while keeping a massive terrace
Well worth checking out
https://www.youtube.com/watch?v=TCqvskA ... ityCouncil

Exeter are going to be around for years to come. They've added huge conference facilities and a hotel to their already impressive stadium. A license to print money.

awaaf
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Re: Sneak Peak - RDS Redevelopment Plans

Post by awaaf »

the spoofer wrote:
March 30th, 2021, 1:19 pm
Dave Cahill wrote:
March 30th, 2021, 1:09 pm
the spoofer wrote:
March 30th, 2021, 12:59 pm
I'm not sure where to put this question but did the IRFU really pay €23m for the offices on Lansdowne Road? There is no clear statement in the accounts but there are Additions to premises and grounds of €23m and there isn't any commentary on it other than to say they bought the offices. The annual rental charge was €350,000 pa.
If memory serves they bought them with part of the revenue from the Newlands Cross sale the reasoning being that if they own them then obviously they don't have to pay rent on them and they can be used to generate income through subletting and being used as security that would generate more value to the Union than just having the cash.

The IRFU do very financiery things with their money - for example they sold on the future income from the naming rights deal because even taking the haircut for the sale, they would get more value from having less money upfront than more in installements - and its really difficult for the layperson (like me) to work out what they are doing and why - but they seem to know what tehy are doing
But 350K/23M is a yield of 1.5%. Perhaps the rent was greatly undervalued but it's still just two houses on LR. I'm also not sure why we need to have our offices on LR, an office building in Sandyford would seem to work just as well. Seems like a trophy purchase. One issue is that there is no accountability or even means of questioning how the decision was arrived at.
Surely there is a clear medium/long term play for a high rise development incorporating the WRC building. IRFU would be well placed to benefit. No?

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the spoofer
Rhys Ruddock
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Re: Sneak Peak - RDS Redevelopment Plans

Post by the spoofer »

awaaf wrote:
April 9th, 2021, 9:13 pm
the spoofer wrote:
March 30th, 2021, 1:19 pm
Dave Cahill wrote:
March 30th, 2021, 1:09 pm

If memory serves they bought them with part of the revenue from the Newlands Cross sale the reasoning being that if they own them then obviously they don't have to pay rent on them and they can be used to generate income through subletting and being used as security that would generate more value to the Union than just having the cash.

The IRFU do very financiery things with their money - for example they sold on the future income from the naming rights deal because even taking the haircut for the sale, they would get more value from having less money upfront than more in installements - and its really difficult for the layperson (like me) to work out what they are doing and why - but they seem to know what tehy are doing
But 350K/23M is a yield of 1.5%. Perhaps the rent was greatly undervalued but it's still just two houses on LR. I'm also not sure why we need to have our offices on LR, an office building in Sandyford would seem to work just as well. Seems like a trophy purchase. One issue is that there is no accountability or even means of questioning how the decision was arrived at.
Surely there is a clear medium/long term play for a high rise development incorporating the WRC building. IRFU would be well placed to benefit. No?
I can’t see high rise allowed on LR

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