Wakefield Park for sale?

[MX5MANIAC]

Come on CT, round up the troops for a group buy. I am sure we can fix up the track and facilities. Get your business plan together for our consideration.....

working bee...im in

[CT]

Hey Bozzo - long time no see. I was thinking around the $5.5m mark myself - not a penny more! Maybe we do some fundraising chocolates, lamos, crispy cremes and then Aus-Cartalk could own it!

The shame would be that even though you would own a racetrack, you would need 90% plus utilisation to pay for it and hence you would be lucky to get a day on it yourself! C'mon powerball!

[Benny]

Let's see.
$6.5M. If you charged say $3,500 a day and had 100% utilisation, you could pay it off in just over 5 years, giving you a return of around 20%.
Not bad, but you can't get 100% utilisation, and you would still have costs of providing staff, repairs etc.

If someone could come up with say, $500K, that would be enough of a deposit to get finance on the rest to pay off over say, 20 years, and you would still have a reasonable income, providing your costs weren't too high.

Being more realistic, it would probably take around 8-12 years to pay off, + interest, and you would still have a nice parcel of land to sell later.


The NSW Club has around $50K in the kitty, so all we need is to get the members to cough up another $450K, and then we might be in with a chance!
Looks like I'll increase the membership fees for next year!
I reckon $1,000 a year is still good value.

[Geoffro]

Looks like I'll increase the membership fees for next year!
I reckon $1,000 a year is still good value.

he' s dreaming

[Ren]

The way Goulburn is expanding (apart from lack of water) the land will be worth a great deal. I imagine that the track was set up as a tax loss to offset the capital gain on the sale of the land.

[Ren]

The way Goulburn is expanding (apart from lack of water) the land will be worth a great deal. I imagine that the track was set up as a tax loss to offset the capital gain on the sale of the land.