SINGLE PARTY FRAMEWORK FOR THE PROVISION OF COMMERCIAL PROPERTY ADVISE SERVICES TO HORSERACING IRELAND AND SUBSIDIARIES

Tender description

Horse Racing Ireland (HRI) was established by the Irish Government under the Horse and Greyhound Racing Act 2001 and the Irish Horseracing Industry Act 1994. It is a commercial semi-state body that is responsible for the administration, promotion and development of Horse Racing in Ireland. HRI subsidiaries include Irish Thoroughbred Marketing Ltd (ITM), Tote Ireland Ltd and HRI Racecourses Ltd. consisting of Leopardstown Club Ltd., Fairyhouse Club Ltd., Navan Races Ltd. and Tipperary Races PLC. Leopardstown Racecourse is one of four racecourses owned and managed by Horse Racing Ireland (HRI) and is the only racecourse in Dublin, located 6 miles south of the city centre in Sandyford. It stages approximately 23 race meetings throughout the year, including the Christmas Festival, Irish Gold Cup, Irish Champion Stakes and a series of evening meetings throughout the summer. A Masterplan has recently been completed by Horse Racing Ireland (HRI) for Leopardstown. It covers all associated lands in the vicinity of Leopardstown Racecourse, owned by HRI and Leopardstown Club Ltd. and these lands together are all now referred to as the Leopardstown Campus. This ambitious vision will transform the campus at Leopardstown Racecourse into a landmark sports, entertainment and community hub that will deliver significant incremental economic benefit to the local area and indeed nationally. Achievement of this vision will be built on the foundation of the racecourse’s long history on site dating back to 1888, its strategically important location as the only racecourse in the capital city and the opportunities to add exciting new amenities to the campus. The Masterplan provides the planning and design framework that will facilitate the delivery of the Leopardstown Campus vision. There are a number of commercial opportunities arising from the proposed land uses within the Masterplan. The successful party under this framework may be required to advise on the structuring, marketing, partner selection and transaction negotiations for these opportunities. While Leopardstown Club and Horse Racing Ireland are the main user of this framework, it remains open to be used by other HRI subsidiaries should the need arise. Cork Racecourse Mallow and Curragh Racecourse Limited while not subsidiaries of Horse Racing Ireland, are closely affiliated with HRI. The Contracting Authority reserves the right to use this framework for any other business venture or industry body in which it is involved. The estimated value of this framework agreement is approximately €150,000 p.a. for ongoing commercial property advice. The maximum value of this framework agreement will not exceed €1.6m. This value may include any transaction fees due to be paid for any acquisition or disposal within the framework period. Please see the attached document for a detailed specification of service required.