ARL Commission boss Peter V\u2019landys has continued his \u2018NRL Monopoly\u2019 spending spree after buying another Brisbane property in the code\u2019s march towards $1 billion in assets.<\/p>\n
This masthead can reveal the ARL Commission has delved back into the property market \u2013 purchasing the building currently leased by the Queensland Rugby League adjacent to Suncorp Stadium.<\/p>\n
It is the ARLC\u2019s seventh property purchase in a four-year buying blitz that is set to see the NRL\u2019s asset base grow to north of $500 million on the eve of this year\u2019s finals series.<\/p>\n
Last month, the NRL ramped up talks on the game\u2019s greatest real-estate investment yet<\/a>, a 400-room hotel at Sydney\u2019s Wolli Creek in a pending acquisition worth an estimated $115 million.<\/p>\n Now V\u2019landys, a trained accountant, has stepped up the code\u2019s property empire, securing the Milton building in the famous Lang Park precinct as the NRL expands its asset portfolio in Queensland.<\/p>\n The NRL\u2019s newly-minted $5.3 billion TV rights deal <\/a>has given the code the fiscal muscle to buy more properties<\/a> to ensure rugby league never goes broke after the bankruptcy fears during the Covid crisis.<\/p>\n V\u2019landys, who stopped into the Broncos\u2019 headquarters on Tuesday to visit Brisbane chiefs, confirmed the NRL\u2019s latest property venture.<\/p>\n \u201cYes, we have purchased the Queensland Rugby League building, so that\u2019s another asset,\u201d V\u2019landys said.<\/p>\n \u201cIt\u2019s been in the works for a couple of months, but we\u2019ve exchanged contracts so it will all go through in the next weeks.<\/p>\n \u201cIt\u2019s a good return-on-investment on the building, so why pay rent when we can have our own assets?<\/p>\n \u201cThe Queensland Rugby League has a lease there, so nothing will change for them.\u201d<\/p>\n Property records show the Castlemaine Street commercial property was purchase for $8.9 million in May 2016.<\/p>\n It is not clear how much the ARL Commission paid for the building, but based on property valuation trends in Milton, the building leased by the QRL would now be worth an estimated $15.5 million.<\/p>\n The QRL-leased premises is now the NRL\u2019s fourth property purchase in Queensland that first began in 2022 when the ARLC bought the famous Gambaro Hotel, since renamed the Beetson after Maroons league legend Arthur Beetson.<\/p>\n The NRL took ownership of the Mercure Hotel on the Sunshine Coast in February 2024, before acquiring the Mantra in Brisbane nine months later in a twin $43 million purchase.<\/p>\n The latest purchase ensures the Queensland Rugby League will have a permanent home in the shadows of Suncorp Stadium and the ARL Commission is on the hunt for more properties.<\/p>\n As revealed by this masthead, the NRL in February reported net assets of $387.3 million, up 20 per cent on the prior year and a remarkable increase of 573 per cent since 2016.<\/p>\n But V\u2019landys says he isn\u2019t satisfied yet as he looks to future-proof the sport with a $1 billion safety net.<\/p>\n \u201cWe\u2019re still going and still looking for more properties,\u201d he said.<\/p>\n \u201cIn Queensland, we have the Beetson Hotel, we have the Mantra, we\u2019ve got Kawana Waters on the Sunshine Coast and now we have the QRL building, so we\u2019ve got four assets (in the Sunshine State).<\/p>\n \u201cI\u2019m determined to get to at least $500 million worth of assets and $1 billion by the time the broadcast deal ends (in 2034).\u201d<\/p>\n V\u2019landys confirmed the ARL Commission is on the verge of competing the Wolli Creek deal.<\/p>\n \u201cYes, we are currently negotiating,\u201d he said. \u201cIt\u2019s a 400-room hotel \u2026 we never want to be in a position again where we are nearly bankrupt.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"ARL Commission boss Peter V\u2019landys has continued his \u2018NRL Monopoly\u2019 spending spree after buying another Brisbane property 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