Lease for Ossal Stadium, home to Bradford Bulls Rugby League team, goes up for sale
Opened in 1934, Odsal is a multi-purpose sports stadium which extends to approximately 12.85 acres and is currently the home of Odsal Motorsport, as well as the Bradford Bulls. The Rugby Football League Ltd (RFL) currently leases Odsal on a 150-year term from Bradford Metropolitan District Council on a peppercorn rent.
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.
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Hide Ad“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 Motorsport Ltd has a licence running until 2041, allowing them to host up to 20 events per annum. The current combined income from the two occupiers is approximately £125,000 per annum.
Bradford Bulls CEO, Jason Hirst issued a statement on the listing, in which he noted that he did not believe there was any “immediate threat” to the club’s use of the stadium.
He said: “We are aware that the RFL are now seeking expressions of interest to potentially sell their leasehold of Odsal Stadium and we understand their reasons for this; particularly with the new IMG grading system being introduced, which puts significant obligations on stadium owners.
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Hide Ad“We have been continually reassured that the RFL’s primary objective has always been the protection of professional Rugby League in Bradford and this was and has been repeated once again as part of this potential sale process. Given those assurances, we don’t, therefore, believe there is any immediate threat to the club’s occupancy of Odsal Stadium and as such, fully expect the club to play all of its’ home fixtures at the stadium in 2024.”
The Leeds office of global property consultancy Knight Frank has been appointed to sell the lease of the iconic stadium.
Jonathan Hyland, partner with Knight Frank in Leeds, who is advising the Rugby League, said: “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.
“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.”