News We’re going to Dingleyland! Construction to begin.

[Strapping Young Lad]

 

[Walshawk]

Any news on what happens to Waverley?

I am surprised the Melbourne haven’t expressed interest in moving in.

 

[Mitchell Madness]

Any news on what happens to Waverley?

The club will be selling it, but will hold on to it until the right offer comes in (no bargain sale) - source:insider at the club (name retracted as I do not know if the information was meant to be divulged)

 

[peetoo]

The club will be selling it, but will hold on to it until the right offer comes in (no bargain sale) - source:insider at the club (name retracted as I do not know if the information was meant to be divulged)

That’s an interesting piece cos the current valuation is as an AFL club home,

Does it’s value increase or decrease according to new use?

 

[Charchi]

I am surprised the Melbourne haven’t expressed interest in moving in.

It is not considered up to scratch anymore. On the other hand it could be home to the umpires who are nomads and sell off the gym, shops, cafe.

 

[Walshawk]

It is not considered up to scratch anymore. On the other hand it could be home to the umpires who are nomads and sell off the gym, shops, cafe.

I was only half serious. It would be a step up for the Dees though. They train in an open park without any infrastructure.

 

[Mitchell Madness]

That’s an interesting piece cos the current valuation is as an AFL club home,

Does it’s value increase or decrease according to new use?

Given the popularity of last piece, it could probably become a decent reception venue operated by last piece

I was only half serious. It would be a step up for the Dees though. They train in an open park without any infrastructure.

Casey fields isn't bad, problem is they have noone at the club close to cranbourne. So noone wants to drive there. As such their admin is at ammi Park, club shop at the mcg

 

[Hawkers Hero]

I was only half serious. It would be a step up for the Dees though. They train in an open park without any infrastructure.

They want to move to a new development at Caulfield racecourse.

 

[CliffMcTainshaw]

The club will be selling it, but will hold on to it until the right offer comes in (no bargain sale) - source:insider at the club (name retracted as I do not know if the information was meant to be divulged)

Statement from Monash Council.
Our community understandably expressed concern about the future of the oval when Hawthorn relocation to Dingley was first raised. As the oval is part of Victorian Government master planning for the Waverley Park Estate, it is Council’s expectation that the land remains as an oval after Hawthorn’s relocation. Council is open to discussing with the club how this could best be managed.

 

[Mitchell Madness]

Statement from Monash Council.
Our community understandably expressed concern about the future of the oval when Hawthorn relocation to Dingley was first raised. As the oval is part of Victorian Government master planning for the Waverley Park Estate, it is Council’s expectation that the land remains as an oval after Hawthorn’s relocation. Council is open to discussing with the club how this could best be managed.

Yes, that's the oval. I'm talking about the building and amenities

 

[The Golden Glenferrie]

Yes, that's the oval. I'm talking about the building and amenities

Knowing the council, it'll be demolished and developed with townhouses to within an inch of its life, with an oval in the middle doubling as a dog park

 

[Mitchell Madness]

Knowing the council, it'll be demolished and developed with townhouses to within an inch of its life, with an oval in the middle doubling as a dog park

It's heritage listed. Can't be demolished

 

[The Golden Glenferrie]

It's heritage listed. Can't be demolished

Hope it is maintained

 

[grumbleguts]

No Do Not Enter signs that I could see. Not me it was Tom Tom. He's off the chain

I did the same thing at Homebush when they built the Olympic venue there for the 2000 olympics. No one stopped me, I got out of the car a walked around the site.

 

[eldorado]

I don't know if we actually own the Kenneth Luke stand/Waverley remnants...at least yet

Didn't we get a long lease ...something ridiculous like 99 years..at $1 per year or something?

Maybe Mirvac officially own it? The Kenneth Luke Stand is heritage listed, so it has to stay pretty much as is

 

[peetoo]

I don't know if we actually own the Kenneth Luke stand?Waverley remnants...at least yet

Didn't we get a long lease ...something ridiculous like 99 years..at $1 per year or something?

Maybe Mirvac officially own it? The Kenneth Luke Stand is heritage listed, so it has to stay pretty much as is

That’s my understanding….and the oval can only be for training, not actual games at any level

 

[OnTheRocks]

I don't know if we actually own the Kenneth Luke stand?Waverley remnants...at least yet

Didn't we get a long lease ...something ridiculous like 99 years..at $1 per year or something?

Maybe Mirvac officially own it? The Kenneth Luke Stand is heritage listed, so it has to stay pretty much as is

That's how I remember it also.

 

[streetspirit]

That’s my understanding….and the oval can only be for training, not actual games at any level

Quick review of the annual report from 2022 which is the first thing that came up in Google specifically notes the Waverley Park land, buildings and oval as part of the whole HFC land, buildings & equipments assets (includes KCC also I assume at that point) as well as the gym as an investment property. Not an accountant though so unsure if a long term lease gets would similarly be classified like this.

eg page 37 and 38

https://resources.hawthornfc.com.au/aflc-haw/document/2022/11/25/2022_Annual%20Report_297x210_Digital_Final.pdf

Investment properties comprise the gymnasium at Waverley Park which is leased to a third party under commercial leasing terms and conditions. Included in investment properties is land totalling $1,100,000 which is not depreciated.

in our PP&E detail:

The Waverley Park land, buildings and oval are subject to certain usage and disposal restrictions.

 

[streetspirit]

This is echoed by this article that we have the freehold

Hawthorn and St Kilda: different sides of the equalisation debate

A few key decisions explain Hawthorn's emergence as one of the AFL's most powerful clubs while St Kilda, despite getting a lot right, is rubbing shoulders with the stragglers.

www.theage.com.au

Hawthorn paid $1 and, in return, received the freehold on the entire oval and a portion of what is now the administrative buildings. Thus, the club gained millions of dollars of real estate – a freehold that gave the club serious assets on the balance sheet, a buffer for bad times and no rental costs – for nothing. The Hawks also bought the gymnasium at Waverley and receive a tidy return of about 8 per cent a year.

First referenced by @jaegar here https://www.bigfooty.com/forum/threads/how-did-we-get-waverley-park.1070137/

 

[Flukey!]

I don't know if we actually own the Kenneth Luke stand/Waverley remnants...at least yet

Didn't we get a long lease ...something ridiculous like 99 years..at $1 per year or something?

Maybe Mirvac officially own it? The Kenneth Luke Stand is heritage listed, so it has to stay pretty much as is

The club owns it now.

 

[Mitchell Madness]

I don't know if we actually own the Kenneth Luke stand/Waverley remnants...at least yet

Didn't we get a long lease ...something ridiculous like 99 years..at $1 per year or something?

Maybe Mirvac officially own it? The Kenneth Luke Stand is heritage listed, so it has to stay pretty much as is

It was a 7 year lease

 

[CliffMcTainshaw]

Quick review of the annual report from 2022 which is the first thing that came up in Google specifically notes the Waverley Park land, buildings and oval as part of the whole HFC land, buildings & equipments assets (includes KCC also I assume at that point) as well as the gym as an investment property. Not an accountant though so unsure if a long term lease gets would similarly be classified like this.

eg page 37 and 38

https://resources.hawthornfc.com.au/aflc-haw/document/2022/11/25/2022_Annual%20Report_297x210_Digital_Final.pdf

in our PP&E detail:

Sold
https://raywhitecommercialglenwaverley.com/news/mulgrave-investments-sold-for-4-35-million

 

[streetspirit]

Sold
https://raywhitecommercialglenwaverley.com/news/mulgrave-investments-sold-for-4-35-million

From that note - appears 6/2 - 8/2 Stadium Circuit are the other non-HFC parts of the building - currently the Village Store and Last Piece cafe etc etc. Not the Goodlife gym or the HFC administration/museum?