Working with clubs is always a pleasure for us. The sense of community and pride is infectious, and a welcome injection of genuine care in the hustle and bustle of everyday business. This month we sat down with Brett Dinstan of Brothers Leagues Club in Townsville. He is a proud LDC customer and partner, a dedicated community advocate and all round top bloke. Let’s have a look at what Brett has to say…
How long have you worked with the Brothers Leagues Club?
What’s your favourite part of the job?
The variety. Our leagues club and bowls club have a diverse range of operations as well as growth opportunities that we continue to explore. Each week presents unique challenges.
What do you think is the biggest challenge facing clubs today?
To remain relevant. The landscape of our industry is constantly evolving and clubs need to continue to provide attractive options for our members and guests. Continually reinvesting back into the clubs to stay relevant helps drive the means to continue providing support to the local community.
Tell us about your cell tower lease.
The club was initially a small suburban bowls club run on a tight budget so the additional monthly income stream the lease offered was of huge benefit to the club. Once Brothers Leagues Club had taken over the club and heavily invested in the infrastructure and operations of the club, it still remained a constant passive income that we could rely on as part of our cash flow.
What was the motivation to sell your lease to LDC Infrastructure, and how has it impacted your club?
Whilst the consistency of this passive monthly income was extremely beneficial in the early years, the clubs have managed to grow to a position where it wasn’t as reliant on it for meeting operational costs.
Selling the lease for a lump sum allowed us to bring forward some of our capital project plans. For example, this year is the celebration of Brothers Rugby Leagues 100th year and we have been able to complete our Centenary Grand Stand overlooking our main field. The cash injection we received from the selling of our lease greatly assisted with projects like this without the use of financing facilities, and of course the interest that comes with them.
Is selling your ground lease rights something you’d recommend to other clubs?
The opportunity for us presented itself at the right time for where we were at, and what we were looking to achieve at that point in time. It has certainly been fortuitous for us, however each entity should review for themselves whether it is the right fit at the right time for them, but there certainly are positive opportunities should you decide to sell the lease.