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Perth Racing announce Belmont grandstand to be demolished

West Australian Racing
DamienWyerDamienWyer    6,803 posts
edited January 2014 West Australian Racing
Perth Racing today have announced to members that it is to be demolished following the 2014 Winter season.

No mention of a construction timeline was mentioned, but the possibilities of the 2015 Belmont season needing to be re-scheduled would be very high.

It is worth mentioning that construction work should have commenced this month at Belmont, according to their own timeline on the Perth Racing website for a couple of years, but with the Magic Millions Sale in mid February, at the very earliest it won't start until March. With today's announcement, that timeline I guess will be further pushed back.

They begin to sell off the plan later in 2014. In light of the WACA's problems in getting their concept off the ground, i presume Golden River wanted to buy themselves some time to see if the real estate market changed directions.

I think I am right in saying that this project has been at least four years since the initial deal was announced. So is this just another year delay ?

Here is today's announcement.

10th January 2014

Dear Member,

On behalf of the Committee and Executive team, thank you for your continued support of Perth Racing and we extend our best wishes to you for a healthy, happy and prosperous 2014.

The past year has been a watershed one for your Club with the signing off of our contract for the redevelopment of Belmont Park into a state of the art racing and entertainment precinct and we look forward to keeping you informed of our progress in 2014.

Golden River Developments WA (GRDWA) are now well advanced in their planning process and working with the Town of Victoria Park on the TOD Precinct Development Approval. Once Development Approval is obtained GRDWA will make available the architectural plans for the first stage of their development after which they anticipate commencing pre sales for the TOD Precinct in the second half of 2014.

Your Committee are well advanced in our initial planning process and have reviewed a detailed cost benefit analysis on the optimum way forward with respect to the Grandstand project and race day facilities.

Not surprisingly it has been clearly demonstrated that a new build is by far the most efficient and cost effective way forward and will best deliver a facility that will provide an outcome designed for the 21st century. We anticipate that a detailed plan will be available on our website and member’s notice board on the member’s floor at Ascot for review in the second half of January 2014. We encourage all members to review the plans and provide us with any feedback during this process.

The new build will incorporate a Health and Sports Club which will be fully funded by GRDWA and operated by the Club on completion, in time this becomes the property of Perth Racing to operate in perpetuity for members and residents.

At this point of time it is our intention to commence demolition of the grandstand after the completion of the 2014 Belmont racing season subject to receiving approval for our plans from the Town of Victoria Park.
Members will be provided with an opportunity to keep abreast of developments at our next Members Forum morning tea to be held at Belmont Park Racecourse on Saturday 3rd May.

As part of our commitment to enhance the race day experience for patrons at Ascot we have removed the burger bar to create more open space , added a new marquee to provide additional shade and shelter and launched the new Delicatessen offering barista coffee and fresh sandwiches and rolls. We have also added 90 benches to the member grandstand seating area to increase its usability for all members.
Heading into 2014 I wish each and every one of you a successful and healthy 2014.

Yours Sincerely

Mr E van Heemst
Chairman

+1 -1

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Comments

  • RIORIO    13,874 posts
    edited January 2014

    It's official I give up. This board are the most incompetent group of people god could choose to put in charge of the piggy bank..

    Assurance, after assurance, after assurance was given that the best option going forward was to refurbish the grandstand...We have had surveys, engineers and allsorts of experts tell us that the grandstand is secure and fit for refurbishment.....

    And now this backflip, after backflip, after backflip....No faith in the ability of these incompetents to know what day tomorrow is and they have been charged with the task of driving us it the future??

    I will add that I feel this is the best outcome for racing in WA, for many years to come. But when discussed initially it was stated that the cost of a new grandstand was over $200million... I cant see that having been reduced in the past 2 years.. Or was that a lie as well???

    Shame, shame, shame, if they have sold off their last asset and leave the members with a massive debt for years to come.. Or even with no money in the bank for years to come.. That is not the commitment they made to the members in the very recent past..

    As stated above ...I give up...all the nah sayers that hate me having an opinion...you win. I'm off and out of here..

    scoot dislikes this post.

  • PuntingTragicPuntingTragic    1,141 posts
    The grandstand at Belmont is not fit for anything but a bulldozer going thru it it's a dump lipstick on a pig would be a refurb it must be demolished an rebuilt state if the art

    To refurb it would be a disaster we need a whole new facility for punters at Belmont

    RIO, thefalcon, bookielover, Simmo likes this post.

  • DaleDale    1,346 posts
    with lights for night racing, straight out of the footy into the races, then into the casino, then into the watch house. i cant wait.

  • DarkhorseDarkhorse    666 posts
    Why do we need a new grandstand at Belmont , nobody goes there.
    What was the maximum crowd at Belmont during the past years, it would not be many and would not justify the club putting itself into debt to GRD for the next century.
    They will get so far in debt they will be pleading with the Government to get them and us out of the mire.
    A  poor decision by the club at such a late date.It sound to me like a developer has seen an opportunity to make a fortune when the chips are down.

    everready likes this post.

  • DamienWyerDamienWyer    6,803 posts
    Who are the Directors of GRDWA Pty Ltd ? Anyone know ?
  • thefalconthefalcon    15,621 posts

    its not going to be only a grandstand but a reception centre, swish health club, restaurants etc.

    rio, you are talking like it was your own money they are spending and putting members into debt. members??

    will they pass the hat around to us? i don't think so....

    all those well heeled folk buying units will no doubt become members of PR....that you can rely on.

    you have to spend money to progress, you say your company is looking at a 50mio mining investment in a foreign country which i'd guess as being in africa or some tin pot asian or sth american dictatorship where your investment could be wiped out or nationalized at the stroke of a pen...or a few bullets.

    puts the grandstand into a fresh perspective, eh?

  • thefalconthefalcon    15,621 posts
    i googled them some time ago, damien..indonesians i think...

    paraletic likes this post.

  • bookieloverbookielover    2,235 posts
    I see the point that Darkhorse is making, but if the people at Belmont have got any brains, they would do what they did at Caulfield the Valley and Flemington when they built their new grandstands and what the ATC have done at Randwick.

    The grandstands have been modelled so that they can operate as as function centres, on non-race days and nights, and Caulfield in particular have a magnificent facility within the stand at which functions are held on a regular basis, earning the club a lot of money.

    They also allowed for room on the ground floor, to have a full complement of bookmakers inside the stand in air-conditioned comfort on cold and hot days. Bookies only move outside for the three days of the Caulfield Cup carnival, so aside from those three days, punters have got everything at their finger tips, bookies, tote, food and comfort.

    So if they are going to do it, they should take a look at what has been done over here, and not try and re-invent the wheel. That doesn't of course preclude them from improving on what has been done if they can.

    TheFunkster, rustyh likes this post.

  • RIORIO    13,874 posts

    The directors of GRDWA changed about 12 months ago, so you'd do well to find an updated post June 2013 listing

    As for the work stuff Falcon, we bought this one in Malaysia but we have mines in every continent and from memory over 20 different countries.. But the debt to buy that is held by our owners in a family run business, it isn't lampooned by weird legalize that appoints all that debt to the workers in the company.

    PR have a all care no responsibility factor that all decisions made by the board are the responsibility of the members. So if the original spray of $200mil for the new grandstand was right - used as justification why it would never happen as recently as late November last year - then that debt will be the burden of members.

    Once again I will repeat myself, cos people sometimes don't read everything that is posted

    "I will add that I feel this is the best outcome for racing in WA, for many years to come."

     

  • bookieloverbookielover    2,235 posts
    Sorry, Falcs post went up as I was typing mine, so good to hear that they are taking my advice without even asking me :)) :))
  • RadmanRadman    1,992 posts
    Interesting :-\"
  • SLIPPERGOLDENSLIPPERGOLDEN    5,644 posts
    edited January 2014

    Carlosa, RIO likes this post.

  • SLIPPERGOLDENSLIPPERGOLDEN    5,644 posts
    GRDWA Pty Ltd ? Any connection to Coles.... Down Down Grandstands are down. :-q
  • DaleDale    1,346 posts
    surely damo you have been able to do the legwork, but i can tell you....

    BRETT Fogarty, founder of Perth-based engineering contractor GRD, appears to have sold most of his shares in the company for more than $120 million.

    The GRD board was meeting last night, leading to speculation Mr Fogarty, a former stockbroker, would soon resign as a director.

    In April last year it was announced that Mr Fogarty would step down as GRD chairman and chief executive. He was replaced as chairman by former West Australian premier Richard Court and as chief executive by Cliff Lawrenson.

    The role of chairman and chief executive had been split in line with the ASX's corporate governance and best-practice recommendations, the announcement said.

    Mr Fogarty would continue as a non-executive director.

    At the time of the statement, Mr Court was quoted as saying Mr Fogarty had given GRD a strong presence in the resources and waste management markets.

    The board was extremely grateful for his leadership and vision in establishing and growing an internationally resilient company and establishing a strong foundation for growth.

    But Mr Fogarty has been selling since November, when he held more than 30 per cent of GRD's scrip.

    Yesterday Mr Fogarty's private company Quininup Holdings told the stock exchange it had reduced its holding in GRD from 10.69 per cent, announced in March, to 0.3 per cent, representing around 570,000 shares. The proceeds of the latest sale were recorded as $47 million.

    Several institutions have issued substantial shareholder notices in GRD so far this year.

    GRD owns the engineering contracting operation GRD Minproc, which reported a $2.5 billion order book last year, and Global Renewables, which operates the Eastern Creek waste-treatment operation in western Sydney as well as being in partnership with Lend Lease in a big British waste project in Lancashire.

  • DaleDale    1,346 posts
    pretty sure this has nothing to do with it, but i just wanted you to all have a read.....

    RIO, thefalcon, paraletic likes this post.

  • DamienWyerDamienWyer    6,803 posts
    I think you have the wrong company there
  • thefalconthefalcon    15,621 posts
    please advise, damo.
  • SPUDLEYSPUDLEY    1,584 posts
    WELL THIS WHERE I TELL ALL THE CLOWNS AT PERTH RACING I TOLD YOU SO the grandstand has been a joke for over 10 years any ideas they had to refurbish were always going to end with the building being knocked down any chance they can do one of those explosive jobs on it I would just love to plunge the hammer down and see the end of that excuse for a grandstand.

    When they build the new one it needs to be as close to the track as possible maybe a bit like Moonee Valley so we the public are close to the action.
  • TheodorTheodor    199 posts
    edited January 2014
    No debt will be taken on by PR to build the new facilities. It will be about 7 metres closer to the track and simply sensational. Still getting final approvals. Will be a venue that is open 7 days a week for as much as 18 hours a day. Capacity about 6,000. Horse stalls 20 metres from the grandstand. Perfect for trainers, owners, members, public. 800 person function room that can be divided into 3. Five stories high and the best roof deck in Perth. Massive screen like Fed Square, so facility can be used for viewing more than just the races. Plans for lights but need some Gov't assistance. Plenty of car bays and just across from the new sports stadium.

    PuntingTragic, Carlosa, LuckyLongshots likes this post.

  • PuntingTragicPuntingTragic    1,141 posts
    Sounds great Theo lets get it on

    A facility that can be used for many applications is awesome

    I will be rejoining as a member for sure to see it come to fruition
  • TheodorTheodor    199 posts
    Sorry to upset some people here, but no one I know on the committee wanted to refurb the existing building. It was just a very sensitive matter that required a number of other parties and authorities to agree that it makes most sense to bull doze the existing grandstand and build something that is purpose built that we can use for the next 30 years. Once we had the non PR parties onside we made the decision. I think any reasonable man would agree this is sensible and well worth a delay to make the right decision. If you are a member , come to the morning tea on 3 May and we can provide a lot more colour on this.

    Chelsea likes this post.

  • SLIPPERGOLDENSLIPPERGOLDEN    5,644 posts
    Sounds great and certainly has to be a venue for more than just racing. Numerous soccer stadiums in the UK have ventured down the same path with great success.
  • DaleDale    1,346 posts
    edited January 2014
    so will it be filled up with poker machines. who will be there morning, pm, mid week to enjoy a beer if there is nothing else to do?
  • TheodorTheodor    199 posts
    Slipper, 5 years a go our non race day income was less than $200k. Within 5 years we expect this to exceed $5m. This year we will approach $2m.
  • SLIPPERGOLDENSLIPPERGOLDEN    5,644 posts
    edited January 2014
    Heading in the right direction if that's the case Theodor. If those soccer clubs I refer to are rule of thumb then you are on a winner if managed correctly.


  • TheodorTheodor    199 posts
    No pokies but wouldn't mind them. Bars, restaurants, lounges and health club. The health club will be of a similar standard to Next Gen at Kings Park. So people don't start bagging the health club, this is being funded by GRD and is part of the reason why we can do a new build. Previously the health club was in an adjacent but co-joining building. As anyone who knows about building, it is cheaper to go up than out.
  • DaleDale    1,346 posts
    6000 happy people enjoying the belmont community markets? what am i missing, where are you getting these numbers and why do you say it will be sensational. What makes you say that?

  • DaleDale    1,346 posts
    edited January 2014

  • TheodorTheodor    199 posts
    Dale, you have NFI. 12 months of careful planning and reviewing race courses and sports stadiums around Australia tells me that the new purpose built facility will be sensational. Beats a refurbishment of a disgraceful grandstand.
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