Govt to take control of nib Stadium

[blueandblack]

The Town of Vincent has accepted a multi-million-dollar offer from the State Government to hand over control of nib Stadium, paving the way for an $83 million planned upgrade.

The council last night unanimously accepted an offer from the Government for a 50-year lease, which The West Australian understands includes a $5 million upfront payment followed by $25,000 a year for the remainder of the lease indexed at CPI.

The Government included $82.5 million in the May Budget to build a new eastern stand but it wanted to control the process, including the design.

Vincent chief executive John Giorgi today confirmed the council’s decision, which was made behind closed doors, but refused to say the amount of the offer.

It is understood Sports Minister Terry Waldron will hold a press conference this afternoon to announce the deal.

Mr Giorgi said in a separate council report the proposed lease was "considered to provide sufficient safeguards to protect town's and ratepayers' interest in the stadium".

"In addition the offer by the Premier is financially attractive, which justifies a change in the council's position."

Confirmation of the offer, which came after protracted negotiations, means the Department of Sport and Recreation is now likely to face negotiations with businessman Nick Tana over management rights of nib Stadium.

Vincent contracted the day-to-day management of nib Stadium to Mr Tana's company Allia Venue Management.

Mr Tana's contract has 13 years to run, but it is understood the department would prefer the venue to come under the umbrella of VenuesWest, which manages other sporting facilities including Kwinana Motorplex and Challenge Stadium.

As part of the heads of agreement between the council and Government new deals will also have to renegotiated with major tenants Western Force, Perth Glory and WA Rugby League.

The Government included $82.5 million in the May Budget to upgrade nib Stadium.

Under the deal with the council it will have total control over the design and rebuild of the stadium.

http://au.news.yahoo.com/thewest/a/-...f-nib-stadium/

[shasta]

That's interesting in light of Waldron's comment here

http://twf.com.au/showthread.php?t=27178&page=2

Wonder if that forced their hand?

[Sheikh]

Great news! Well, almost any news on this is great news.

I was worried that the $1.1 billion stadium at Burswood (or wherever) which was being reported as a multi-purpose stadium would mean that everyone has to play there, and we'd be no better off than at Subi (well, maybe only slightly better off).

I'm rather we had more than just 7.5% of the budget of the new stadium on upgrading nib, but I'll take what we can get from them at the moment.

[blueandblack]

Rubgy WA says the announcement about a long term government lease of Perth Oval is terrific news for the sport.

The Town of Vincent has leased the ground to the government for $25,000 a year, for 50 years.

The announcement paves the way for redevelopment, with work is set to begin on a new 25,000 seat stadium in 2012.

Rugby WA CEO Vern Reid says the announcement ends uncertainty and speculation over Perth Oval's future.

"Now that the site has been confirmed with this arrangement between the State Government and the Town it means that the planning is live and that everyone can now look forward with confidence to the fact that the redevelopment of that site is going to go ahead sooner rather than later," he said.

Mr Reid says it is fantastic news for rugby fans.

"We were always very confident that an arrangement would be entered into with the Government and the Town and the redevelopment that can now be seriously contemplated and put into place will be very, very helpful to rugby being firmly established in the future in Western Australia," he said.

http://www.abc.net.au/news/stories/2...08/3005660.htm

[Burgs]

Wow, bargain!!!
Still don't like the location but a fan of the stability at least.

[shasta]

Wow, bargain!!!
Still don't like the location but a fan of the stability at least.

Granted there is only one pub withing a 5 minute walk, but the train station is only about that as well. So City/Northbridge are a viable option for pre/post match. I haven't explored it yet but, but I think there are quite a few options in East Perth nowdays that are probably not to far to walk as well. I'm OK with that.

redevelopment that can now be seriously contemplated - Vern Reid

What does that mean, I wonder?

[blueandblack]

Granted there is only one pub withing a 5 minute walk, but the train station is only about that as well. So City/Northbridge are a viable option for pre/post match. I haven't explored it yet but, but I think there are quite a few options in East Perth nowdays that are probably not to far to walk as well. I'm OK with that.
...

I notice "The Castle" is up for sale too (aka "Blarney Castle"). Maybe turn that into a decent drinking establishment.

[KenyaQuin]

Wow, bargain!!!
Still don't like the location but a fan of the stability at least.

Couple of minutes from home..love it.