Having advised on one recently completed club development project and just assisted another club to finalise a development partnership, it really hit us just how big these projects are. The estimated gross realisation of these projects is close to $200 million each. This is big bikkies in anyone’s books, much less for a clu … Read more "$100m+ projects – club redevelopments are serious business"
We have written recently about how landowning clubs can use their property to diversify income and create a sustainable future for the club. If a club does choose to go down a redevelopment path, then at some point they are likely to need to partner with a developer to tap into their knowledge and capital. It would be easy to … Read more "Not all developers are created equal – why character matters"
Developers are knocking, but don’t give away control too cheaply It’s no secret that COVID-19 has put clubs under significant financial pressure, and so it follows that it’s no surprise to hear about clubs receiving unsolicited offers from developers. For a cash strapped club it may feel like the answer to your prayers, … Read more "Developers are knocking, but don’t give away control too cheaply"
Excitement! Like all projects, the start of a club redevelopment is defined by excitement and optimism. The design schemes show brand new and perfectly functioning facilities and partners such as developers make promises of untold wealth. Reality Fast forward to the details of the project and often the shine has come of … Read more "It’s never too late to change tack during your club development journey"
Clubs are looking to diversify their income, which has only been hastened by the impacts of COVID-19. For many clubs, revenue diversification is part of a bigger picture strategy that includes some element of redeveloping their property. This is all well and good for clubs with land already zoned for redevelopment, but the zonin … Read more "The will but not the way – property development in unsuitable zoning"