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January 2005
Background Information for Co-Investor Members
It is assumed that most co-investor members will be horse-owners who wish to board a horse or pony at the Club. Co-investor members will have the right to board a horse at the Club and the use of Club facilities (which include instruction and other services).
Project History and Description
There was interest in equestrian sports among members of the ISB and Nichada Thani communities, who formerly were members of the Nichada Polo Club which closed in January 2003. The re-establishment of a riding facility in the vicinity of Nichada Thani fills a need for horse enthusiasts who do not want to spend hours commuting to other equestrian clubs.
The Club is a first-class equestrian sports facility, with up to 14 stalls for private horses, and 18 stalls for school horses and ponies to provide riding instruction and other educational programs for students of ISB and adults in the community. The Club commenced business on 1 May 2004 and currently has 25 school horses/ponies.
On July 24, 2003, a 10-year lease was signed for 11.5 rai of land that is located 300 meters from the Srichaitong gate of Nichada Thani. The land was filled and the following facilities were built:
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40 X 80m covered arena (BHP Steel designed clear-span steel structure) |
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32-stall raised-center aisle barn with external 6m-long paddock for each stall (MD Barns prefabricated, horse-friendly barn, imported from California) |
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20 x 60m outdoor arena |
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1/2 km perimeter track |
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20m round pen |
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office, changing rooms, viewing area and picnic area |
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on site staff housing for grooms |
There is no bar, restaurant or accommodations (except for staff housing); however, snacks and drinks are available for club members. Choice of arena and barn was influenced by considerations of quality, speed of assembly, and ease of removal at the end of the lease period.
A total investment of over Baht 50 million was made in construction and purchase of initial inventories of tack, school horses/ponies, equipment, etc.
The Club hosted the 2004 FEI World Dressage Challenge supported by PSI, November 12-14, 2004. During the event, 48 horses from other clubs in Thailand were temporarily boarded at the Club.
Margrit Hoffmann (an experienced national equestrian coach and judge) is head instructor. She is assisted by Tata Montilla and three part-time instructors. Several of the former Nichada Polo grooms (Home, Daow, Samore) work at the Club, as does farrier/nurse Samart.
The co-investor fee is payable as follows:
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Baht 2 million upfront; or |
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Baht 1 million upfront and monthly installments of Baht 19,332 for five years; or |
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Monthly installments of Baht 38,665 for five years. |
The Club charges all members quarterly membership and other fees comparable to other equestrian clubs in Thailand. After repayment of loans and building up of cash reserves appropriate for contingent liabilities, any profits will be applied to reduce fees payable by co-investor members. Priority will be given to prudent financial management. Books, accounts and statutory filings are managed by Chandler & Thong-ek Law Offices. Ernst & Young has been appointed auditor of the Club.
Click here to view the fee schedule for co-investor members.
Co-investor members will receive:
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right to a stall and paddock (one per Baht 2 million investment) for remaining duration of 10-year lease, subject to compliance with rules governing the use of the Club. |
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right to transfer membership to third party, subject to approval by Board of Directors. |
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1st priority to dividends paid, if any (current intention is to pay no dividends); and 1st priority in liquidation. |
Regulations governing rights and obligations of all members will be adopted.
For further information, contact Al or Sue Chandler.
<info@nonthaburihorses.com>
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Nonthaburi Equestrian Sports Club Ltd. 25/843-5 Moo 6, Tambol Bangtalad, Amphur Pakkred, Nonthaburi 11120, Thailand Tel: (66) 02 962-2735, 962-2736 Fax: (66) 02 962-2737 Email: info@nonthaburihorses.com |