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    #31
    Originally posted by Soda Bread View Post
    The 'big financial boys' who would fund a development of this size (€40 million) have their own resources to do a due diligence/strategic plan to evaluate if it is a good long term investment & will give a positive return. They would be looking at a 5 - 10 year horizon for a return and a positive asset appreciation. In any financial crisis (COVID 19/Banks 2008 etc.) there are excellent long term opportunities if you have the financial resources and you don't need a short term return.
    40 million is a pittance for “big financial boys” - I thought you used to advise them?!

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      #32
      Originally posted by Balla Boy View Post

      I'd generally agree, though that doesn't rule out the possibility that EU funding would still be available to local government.

      But yes - the conference and hospitality sectors aren't exactly where you'd be putting your retirement fund for the foreseeable.

      On the plus side, borrowing is relatively cheap, and you're likely to be able to drive a hard bargain on the development costs given the market.
      Hospitality and conference sector probably not, and I’d imagine you’d include international travel in there somewhere- which is why a ‘build it and they will come’ is a risky direction for the anticipatable future. That’s one of the things the new development adjacent to Thomond worries me- six months ago, iconic venue with major conference potential, near an international airport in a historically rush area would have seemed like a good call - whether or not Munster were involved. It looks less attractive now, and, to be honest, I cannot see the cost benefit of doing business / conferences face to face going back to what it was for ages because of the health and environmental pressures.

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        #33
        Originally posted by Soda Bread View Post
        The 'big financial boys' who would fund a development of this size (€40 million) have their own resources to do a due diligence/strategic plan to evaluate if it is a good long term investment & will give a positive return. They would be looking at a 5 - 10 year horizon for a return and a positive asset appreciation. In any financial crisis (COVID 19/Banks 2008 etc.) there are excellent long term opportunities if you have the financial resources and you don't need a short term return.

        From my reading of the article, the development is dependent on funding from the EU. That will have entirely separate criteria for qualification.

        Given where they are in the project, it would appear that this was conceived pre-covid. So for all we know the business plan has already fallen over.

        And this is quite a different type of crisis. 2008 was a credit crunch that saw a lot of assets disposed of relatively cheaply, yes.

        But Covid poses bigger long term questions for the conference and hospitality industries. Bar the fact that we're headed into an unprecedented recession, it's very difficult to gauge how people's appetite for travel - especially work related travel - will be impacted.


        Most importantly in this instance though, and as you yourself identify, in this sort of market people with 40 million to spend have a fair range of options. There are going to be existing venues going to the wall left right and centre, and existing assets available at big discounts.


        Anyway - long story short, if the feasibility work for this was done pre-Covid, then it's no longer applicable.
        "We will not walk in fear, one of another. We will not be driven into an age of unreason if we dig deep into our history and remember we are not descended from fearful men" Edward R Murrow

        "Little by little, we have been brought into the present condition in which we are able neither to tolerate the evils from which we suffer, nor the remedies we need to cure them." - Livy


        "I think that progress has been made by two flames that have always been burning in the human heart. The flame of anger against injustice and the flame of hope that you can build a better world" - Tony Benn

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          #34
          Originally posted by jagawayagain View Post

          Hospitality and conference sector probably not, and I’d imagine you’d include international travel in there somewhere- which is why a ‘build it and they will come’ is a risky direction for the anticipatable future. That’s one of the things the new development adjacent to Thomond worries me- six months ago, iconic venue with major conference potential, near an international airport in a historically rush area would have seemed like a good call - whether or not Munster were involved. It looks less attractive now, and, to be honest, I cannot see the cost benefit of doing business / conferences face to face going back to what it was for ages because of the health and environmental pressures.


          Oh absolutely. About 12 months ago I went to a company thing just outside Barcelona. Dedicated conference hotel in the hills, self contained, everyone flew in from across Europe, half an hour from the airport. It was ideal, and my firm uses it for these things annually.

          If they're still in business in 12 months they'll have done very, very well.


          You'd assume that the entire business case for this rests on the leveraging of the EU funding. At normal market costs there's a fair bit you could be doing with that cash.

          "We will not walk in fear, one of another. We will not be driven into an age of unreason if we dig deep into our history and remember we are not descended from fearful men" Edward R Murrow

          "Little by little, we have been brought into the present condition in which we are able neither to tolerate the evils from which we suffer, nor the remedies we need to cure them." - Livy


          "I think that progress has been made by two flames that have always been burning in the human heart. The flame of anger against injustice and the flame of hope that you can build a better world" - Tony Benn

          Comment


            #35
            https://www.irishtimes.com/sport/rug...game-1.4309119

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              #36
              Really good piece- thanks for posting- some very happy memories there.

              Comment


                #37
                Thank you, excellent I hadn't seen it. No further comment necessary.

                Comment


                  #38
                  I look forward to seeing some great games in Fortress Johnseys Friendly Stores Park soon.

                  Comment


                    #39
                    Originally posted by Phileas Frog View Post
                    I look forward to seeing some great games in Fortress Johnseys Friendly Stores Park soon.
                    Mr Binmans Binderdome
                    I am the million man.

                    Comment


                      #40
                      The Chicken Hut Stadium is the only acceptable name.

                      Comment


                        #41

                        Following a consortium bid from a group of local small businesses, it's now officially "The Mind Your Car For A Euro Sham Bowl".
                        "We will not walk in fear, one of another. We will not be driven into an age of unreason if we dig deep into our history and remember we are not descended from fearful men" Edward R Murrow

                        "Little by little, we have been brought into the present condition in which we are able neither to tolerate the evils from which we suffer, nor the remedies we need to cure them." - Livy


                        "I think that progress has been made by two flames that have always been burning in the human heart. The flame of anger against injustice and the flame of hope that you can build a better world" - Tony Benn

                        Comment


                          #42
                          So, a week after the Leader article and not a sausage about this supposed development. And no other publication/media outlet has run with what would be a huge development. Someone at the Leader jumping the gun over something that's just speculation? (Athough it'll probably be announced 5 mins after I post this!)

                          Comment


                            #43
                            Originally posted by ick View Post
                            The Chicken Hut Stadium is the only acceptable name.
                            Fork points in the bag, you goooooowl
                            I am the million man.

                            Comment


                              #44
                              Originally posted by Wallyman View Post
                              So, a week after the Leader article and not a sausage about this supposed development. And no other publication/media outlet has run with what would be a huge development. Someone at the Leader jumping the gun over something that's just speculation? (Athough it'll probably be announced 5 mins after I post this!)


                              My reading of the article was that it's a plan being submitted as a funding application for a pre-existing EU pot. I don't know the exact life cycle of that sort of bid, but I can't imagine that it's lightning fast, and I'd hate to think of the number of fairly speculative bids they receive for those pots.

                              So I think it's fair to say that we're at the top of the funnel here...
                              "We will not walk in fear, one of another. We will not be driven into an age of unreason if we dig deep into our history and remember we are not descended from fearful men" Edward R Murrow

                              "Little by little, we have been brought into the present condition in which we are able neither to tolerate the evils from which we suffer, nor the remedies we need to cure them." - Livy


                              "I think that progress has been made by two flames that have always been burning in the human heart. The flame of anger against injustice and the flame of hope that you can build a better world" - Tony Benn

                              Comment


                                #45
                                Newspapers can't sit on a story like that, if they don't publish it, a competitor might do so and then they look second best. Can't blame the Leader for printing what they had.
                                Munster – Champions of Europe 2006, 2008, 2021.

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