The chance to acquire one of Yorkshire’s top sporting grounds has come up after the lease for Odsal Stadium went up for sale.
The Leeds office of property consultancy Knight Frank has been appointed to sell the lease for the stadium, which is the home of the Bradford Bulls Rugby League team. Opened in 1934, Odsal is a multi-purpose sports stadium covering 12.85 acres and is currently the home of Odsal Motorsport, as well as the Bradford Bulls.
The investment opportunity comes just over 10 years after Rugby Football League Ltd (RFL) bought the stadium to maintain its use. RFL currently leases Odsal on a 150-year term from Bradford Metropolitan District Council on a peppercorn rent.
Jonathan Hyland, partner with Knight Frank in Leeds, who is advising the Rugby League, commented: “This is an absolutely fantastic opportunity to acquire one of the most famous sporting stadia in Yorkshire. Odsal has a wonderful history and is one of the jewels in the crown of the city of Bradford. We expect a good deal of interest in this sale, given Odsal’s reputation, high-profile and location. Once a preferred buyer has been chosen, they will be granted a period of exclusivity during which they will be required to agree terms for a formal lease with the Bradford Bulls.”
Robert Graham, the RFL’s director of finance, facilities and central services, said: “The RFL purchased Odsal in January 2012 because of a specific set of circumstances, which at the time involved a real danger that an historic venue for Rugby League could be lost to the sport. This was never envisaged as a permanent position for a national governing body, and after acting as custodians for more than a decade, and with two tenants in Bradford Bulls and Odsal Motorsports Ltd, the circumstances have now developed sufficiently to explore options for sale.”
Odsal is situated in a bowl, creating a substantial amphitheatre, and the south and east stands are the two main buildings, with the north and west stands being concrete surfaced open-standing terraces. Home, away and match official changing rooms are based at ground level in the West Stand.
Odsal Motorsport Ltd has a licence running until 2041, allowing them to host up to 20 events a year. The current combined income from the two occupiers is approximately £125,000 per annum.
Mr Hyland added: “I am delighted to be working with and advising the Rugby Football League again. Knight Frank successfully marketed and sold Red Hall House near Roundhay Park on behalf of the RFL in 2021. Red Hall had been the headquarters of the RFL for 26 years. We also advised the RFL on their move to the stunning Etihad Campus in Manchester, which marked the start of an exciting new era for them.”
Original artice – https://business-live.co.uk/all-about/yorkshire-humber