Sneak Peak - RDS Redevelopment Plans

[The Doc]

https://www.thetimes.co.uk/article/d7ce ... 58f6a3807b

Interesting article.

Is that new info?

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

Sent from my SM-G950F using Tapatalk

[the spoofer]

https://www.thetimes.co.uk/article/d7ce ... 58f6a3807b

Interesting article.

Is that new info?

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

Sent from my SM-G950F using Tapatalk

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

[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.

[Dave Cahill]

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

[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.

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]

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.?

[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]

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]

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?

[the spoofer]

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

[LeinsterLeader]

Leinster in talks with Government over €10m shortfall for RDS redevelopment

Cost of project has almost doubled to €50m but €40m is already secured

Currently short on capital funding, Leinster Rugby and the RDS are engaged in talks with the Government with a view to beginning the development of their grounds at the RDS in Dublin’s Ballsbridge.

However, an adequate financial package to cover the entire cost of €50 million for the large scale sports infrastructure fund has yet to be put in place.

The project has planning permission and an architectural design has been selected but the funds to pay for the proposed new grounds remain €10 million short of what is required.

There is also a time issue regarding the project as planning permission, which was granted in 2016, is set to expire in 2023. A tenant of the RDS, Leinster Rugby has been playing at the grounds since 2007 and has a 25-year agreement in place with the Society.

Because of the ongoing process with Government, there are no start or completion dates set as it is unknown if funding will be approved and building work can begin on the grounds, which currently hosts most of Leinster’s home games in the United Rugby Championship and Champions Cup tournaments.

It is not the only time financing of the project has been delayed due to cost. The original figure when the plan was first mooted was €26 million and that was put on hold in 2018 as Leinster then waited to hear if they were successful with an application for Government funding as part of a major sports capital programme.

“We [already] have €10 million from the Government and we are looking for additional funding for the project,” said a spokesperson for the RDS. “The cost of the project is €50 million. Costs have gone up. We have €40 million secured at the moment so there is an outstanding amount of €10 million.


“We are currently talking to the Government, to Catherine Martin’s department and a few other ministers as well in relation to securing that amount. We are ready to go and we have the planning permission so it is about securing the extra funding.”

Trinity College’s former chief operating officer, Geraldine Ruane, was named as the new chief executive of the RDS last year and took up office this year following the retirement of former chief executive Michael Duffy.

“There is an ongoing conversation with the Government,” added the spokesperson. “It’s is a case of maybe seeing if there is any more money in the National Development Plan for this. Yes it is the same design. That has not changed. We are absolutely 100 per cent optimistic about it going ahead.”

Speaking at a virtual Town Hall in the summer of 2020 with Leinster coach Leo Cullen, Leinster chief executive Mick Dawson told the Official Leinster Supporters Club that they continued to be encouraged about the development of the grounds.

“We have planning permission to build a very fine new stand there with very fine hospitality facilities,” he said. “It would increase the crowd by about 1,500/2,000 people. It would be state-of-the-art.”

https://www.irishtimes.com/sport/rugby/ ... -1.4697462

[alanair]

Leinster in talks with Government over €10m shortfall for RDS redevelopment

Cost of project has almost doubled to €50m but €40m is already secured

Currently short on capital funding, Leinster Rugby and the RDS are engaged in talks with the Government with a view to beginning the development of their grounds at the RDS in Dublin’s Ballsbridge.

However, an adequate financial package to cover the entire cost of €50 million for the large scale sports infrastructure fund has yet to be put in place.

The project has planning permission and an architectural design has been selected but the funds to pay for the proposed new grounds remain €10 million short of what is required.

There is also a time issue regarding the project as planning permission, which was granted in 2016, is set to expire in 2023. A tenant of the RDS, Leinster Rugby has been playing at the grounds since 2007 and has a 25-year agreement in place with the Society.

Because of the ongoing process with Government, there are no start or completion dates set as it is unknown if funding will be approved and building work can begin on the grounds, which currently hosts most of Leinster’s home games in the United Rugby Championship and Champions Cup tournaments.

It is not the only time financing of the project has been delayed due to cost. The original figure when the plan was first mooted was €26 million and that was put on hold in 2018 as Leinster then waited to hear if they were successful with an application for Government funding as part of a major sports capital programme.

“We [already] have €10 million from the Government and we are looking for additional funding for the project,” said a spokesperson for the RDS. “The cost of the project is €50 million. Costs have gone up. We have €40 million secured at the moment so there is an outstanding amount of €10 million.


“We are currently talking to the Government, to Catherine Martin’s department and a few other ministers as well in relation to securing that amount. We are ready to go and we have the planning permission so it is about securing the extra funding.”

Trinity College’s former chief operating officer, Geraldine Ruane, was named as the new chief executive of the RDS last year and took up office this year following the retirement of former chief executive Michael Duffy.

“There is an ongoing conversation with the Government,” added the spokesperson. “It’s is a case of maybe seeing if there is any more money in the National Development Plan for this. Yes it is the same design. That has not changed. We are absolutely 100 per cent optimistic about it going ahead.”

Speaking at a virtual Town Hall in the summer of 2020 with Leinster coach Leo Cullen, Leinster chief executive Mick Dawson told the Official Leinster Supporters Club that they continued to be encouraged about the development of the grounds.

“We have planning permission to build a very fine new stand there with very fine hospitality facilities,” he said. “It would increase the crowd by about 1,500/2,000 people. It would be state-of-the-art.”

https://www.irishtimes.com/sport/rugby/ ... -1.4697462

wait till you see ... any Money will go to Connacht re-development , ahead of ours....

[erskinechilders]

wait till you see ... any Money will go to Connacht re-development , ahead of ours....

Rightly so.. If we're serious about having 4 strong provinces in the country Connacht should definitely get it ahead of us.

[Fifteen]

Anybody have any new info on this?

[Flash Gordon]

wait till you see ... any Money will go to Connacht re-development , ahead of ours....

Rightly so.. If we're serious about having 4 strong provinces in the country Connacht should definitely get it ahead of us.

Leinster are by far the most economically successful province. That money goes back into the development of the game from mini rugby through schools and clubs to the academy. That is the reason Irish rugby is successful. So Leinster works economically and in terms of player output in a way that no other province does currently. So why wouldn't the IRFU invest in the thing that's most economically successful and produces most of our players? Oh and by the way, also produces a significant proportion of Connacht's players.

[Fireworks]

The plan of developing the old stand is depressingly boring and unimaginative. I know they need to be able to move the stands at each end for the horse show but surely it is not impossible to build a proper stadium. We are one of the best teams in Europe but we are falling behind on facilities when you see Exeter and some others.

[blockhead]

wait till you see ... any Money will go to Connacht re-development , ahead of ours....

Rightly so.. If we're serious about having 4 strong provinces in the country Connacht should definitely get it ahead of us.

Leinster are by far the most economically successful province. That money goes back into the development of the game from mini rugby through schools and clubs to the academy. That is the reason Irish rugby is successful. So Leinster works economically and in terms of player output in a way that no other province does currently. So why wouldn't the IRFU invest in the thing that's most economically successful and produces most of our players? Oh and by the way, also produces a significant proportion of Connacht's players.

Yeah, where are you likely to get the most bang for your buck? You build a new stand with corporate facilities in the RDS.
Leinster would have a virtual monopoly on the Dublin corporate night out business.
I really think Irish Rugby is missing out on a big revenue stream by not having such facilities at the RDS.

[Ruckedtobits]

The plan of developing the old stand is depressingly boring and unimaginative. I know they need to be able to move the stands at each end for the horse show but surely it is not impossible to build a proper stadium. We are one of the best teams in Europe but we are falling behind on facilities when you see Exeter and some others.

This isn't Leinster or IRFU stadium. It belongs to the RDS and the focus of it's future development will always be primarily on equestrian sport. It's use for rugby is a useful economic contribution but definitely not the focus of the committees who make an excellent job of maintaining and developing this unique facility in the heart of suburban Dublin.

If somebody can provide a benefactor with very deep pockets (about €50m would be useful), the RDS and their tenant could finalise the final design and complete a new development in time for the beginning of the 2022-23 season, but probably not the 2022 Dublin Horse Show. Prices have risen and opportunities have been missed. New priorities have come into focus and some of those who have involvement believe that this project is probably further from initiation than at any point since 2017.

Let's hope something occurs that rekindles the energy and focus which existed when Michael Duffy (RDS) and Mick Dawson (Leinster Rugby) first announced the proposed development.

[riocard911]

An Bord Pleanála green-lights the demolition of Kiely's - to be replaced by a "co-living" scam. It'd make one cry into one's pint... Courtesy of today's IT:


Demolition of Kiely’s in Donnybrook given green light

Pub will be replaced by 85-unit co-living accommodation scheme over six floors

Gordon Deegan
07.12.21
Irish Times Online

https://www.irishtimes.com/business/con ... -1.4749014

[fourthirtythree]

Surely there's a preservation of buildings of HUGE cultural importance obligation?

Where's my pitchfork and torch?