Interest high in stadium hotel concept

The proposal to build a hotel and nearby multi-level car park was promoted by Dunedin Stadium Property Ltd

The call to build a hotel and car park at Forsyth Barr Stadium, Dunedin, has attracted ‘‘a robust level of interest’’.

Keith Cooper. Photo: ODT files

‘‘We’re pleasantly surprised by the quality and number of expressions of interest received,’’ Dunedin City Holdings Ltd (DCHL) chairman Keith Cooper said.

Mr Cooper was unsure of the precise number yesterday, as the material was being collated by another party, but he had been told the response was pleasing.

‘‘It’s very much in the early stages,’’ he said.

‘‘We will review the expressions of interest in the next 10 days and meet to agree on the basis for a shortlist.’’

Mr Cooper said one or more parties could be invited to provide more details about what could be achieved at the site.

The proposal to build a hotel and nearby multi-level car park was promoted by Dunedin Stadium Property Ltd, which owns the stadium and is part of the DCHL stable of companies owned by the Dunedin City Council.

Potential commercial partners were invited to make their pitch to help add a hotel and car park to the stadium precinct, as well as a sports bar overlooking the ground, office space and a revamped front entrance to the stadium.

grant.miller@odt.co.nz

1 Comment

Comments

Rob Hamlin Thu, 02/09/2021 - 6:40pm #

The Devil, as always with this thing, is in the detail. Note the statement:

"Potential commercial partners were invited to make their pitch to help add a hotel and car park to the stadium precinct, as well as a sports bar overlooking the ground, office space and a revamped front entrance to the stadium."

There is a crucial extra word here - HELP. These 'private developers' are now not going to build it themselves - they are apparently going to HELP to build it. One presumes that they will be HELPING Dunedin Stadium Property Ltd. This presumably means that Dunedin Stadium Property Ltd. will be putting money into it too - But they have no money do they? So where is that money coming from - Well there's only one source that would lend a company with a single worthless asset that generates a chronic loss - Yes ladies and gents that means you, the ratepayer will be the lender. Except that you won't be lending it to this mob - you will be giving it, because there's little if any chance of a repayment. As to private HELP - well despite the promises, that eventually amounted to zero when the Stadium was built - So why should the outcome be any different this time?