knox_team
Years ago
A few people were talking last night at the Dragons v Tigers granny and there was talk that Seamus was telling people he is looking at buying the Adelaide venue? Anyone know anything about this?
Melvin Corpuscle
Years ago
At last we'd get a Krispy Kreme in Adelaide !!
LA Boy
Years ago
make no sense to me, I've heard for awhile he wants his own venue but in Adelaide? Maybe he'll hire that one to cover his costs here in Melbourne? err still don't make sense...
LC
Years ago
Seamus wants to control the league...he is doing it bit by bit
LC
Years ago
I reckon he sees himself as a cross between Mark Cuban, David Stern and Richard Branson.
Isaac
Years ago
LC, he's more like a combination of all three, if you catch my drift.
#'906, he has a painting/building company.
Jack Toft
Years ago
I understood the deal with Venutix to be basically done, albiet subject to a couple of conditions.
Now, with ABC down the gurgler the liquidators would be looking for the highest sale price, but the Dome being a "private" asset of one Eddie Groves, the Dome could be transferred without the same scrutiny.
So, the big question is how the ownership of the Dome is currently setup. If Eddie Groves was a clever chap, the Dome would not be owned by Edward John Groves Esq, rather the Dome would be owned by a holding company (eg The Dome Pty Ltd) of some description with Edward John Groves Esq owning 100 units in the company.
The units can therefore be sold therefore eliminating the nasty stamp duty that Kevin Foley seems to enjoy collecting.
The Dome would fetch $5-10M and so the Stamp Duty would be $269 to 543K. Quite a nasty little suprise for players who don't know how to exploit the loopholes in our tax laws!
Camel 31
Years ago
There's been several press statements that Mal ( On behalf of Groves) was in the final stages of a sale to Venuetix, but that may be dependant on the make up of the new Mens elite competition.
Jack Toft
Years ago
Isaac, Didn't it cost around $18M in the first place?
Let's do the sums.
Land in Beverley:
20,000 @ $200/m2 = $4,000,000
Commercial Bldg (use warehouse rate):
6,700 m2 @ $500/m2 = $3,362,000
Offices
585 m2 @ $1,900/m2 = $1,111,500
($8,473,600)
+ Carpark improvements - Asphalt @ $30/m2
+ Plumbing and toilets
I reckon if you had the place valued by someone, or had a copy like Rawlinsons cost it up, $10M
Jack, it was valued a few weeks ago at just over 3 million I believe.
Jack Toft
Years ago
OK
Seems low to me, but $3M is probably what it is worth given the economic climate
It was valued by a Bank as a business at just over $3m.
There's a bit of difference between that and a valuation on the building.
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