Landmark Corner Block For Sale (On Behalf Of The Parramatta Leagues Club)

[born an eel]

I can not see why others will pay top dollar for the site if it has no development potential. We would have acquired it for less than the next owners will get it for, so if they can make money out of it, why can't we. If we had payed overs for it is the only explanation but would mean we are going to sell at a considerable loss.

I work in the construction industry and have worked on most club upgrades in the southwest area over the last 10 years. Most clubs of comparable size have increased in area by at least double over this time, we have not. Clubs like mounties and bankstown sports have bought and demolished surrounding properties to expand.

 

[born an eel]

Not only that, we might need the $XM that we have in this block to put back into the club. As opposed to borrowing a stack more and then waiting for 24 months before we could start getting a return.

I would be surprised if we get back a decent return from our investments if we are going to give the club a multi million dollar coat of paint. We need to expand as well as renovate.

Do we own the football club offices and what about the unit blocks next to the club?

 

[Gronk]

I would be surprised if we get back a decent return from our investments if we are going to give the club a multi million dollar coat of paint. We need to expand as well as renovate.

Do we own the football club offices and what about the unit blocks next to the club?

How can you expand when you are bounded by roads and Parramatta Park ? IIRC MITS said that most of the carpark is leased from the Parramatta Park Trust.

 

[born an eel]

roads can be bought from council, bankstown sports did not let sweethaven street stop their vision.

http://www.nearmap.com/?q=@-33.919648,151.033771&ll=-33.919648,151.033771&z=19&t=m

http://www.nearmap.com/?q=@-33.919561,151.034248&ll=-33.919561,151.034248&z=19&t=k&nmd=20100801

the original club I can remember working on was about a quarter of the block it now stands on

 

[fish eel]

roads can be bought from council, bankstown sports did not let sweethaven street stop their vision.

http://www.nearmap.com/?q=@-33.919648,151.033771&ll=-33.919648,151.033771&z=19&t=m

http://www.nearmap.com/?q=@-33.919561,151.034248&ll=-33.919561,151.034248&z=19&t=k&nmd=20100801

the original club I can remember working on was about a quarter of the block it now stands on

Let's buy oconnell st.

 

[Maroubra Eel]

Let's buy parra park.

 

[Suitman]

Let's buy oconnell st.

Fair dinkum Fishy. O'Connell street is the Mayfair of Monopoly.
We couldn't afford that!

Suity

 

[Gronk]

Let's buy parra park.

I'm liking it. How about ...

 

[born an eel]

Let's buy oconnell st.

not that far fetched that you could tunnel underneath it but seriously what about Grose st?

 

[Hollywood Jesus]

If it has been decided that this will be sold in order to acquire money to put back into the Club in a way that will provide a better return than this property will then that's perfectly acceptable.

So, is anyone enough in the know to be able to take a stab at the value of the property?

If so, is anyone then in a position to make an educated guess as to what this will materialise into in terms of Club development and improvements?

 

[Tony Bongo]

If it has been decided that this will be sold in order to acquire money to put back into the Club in a way that will provide a better return than this property will then that's perfectly acceptable.

So, is anyone enough in the know to be able to take a stab at the value of the property?

If so, is anyone then in a position to make an educated guess as to what this will materialise into in terms of Club development and improvements?

There is a development site for sale on Phillip st which is 750m2 and has a restaraunt with river views and an asking price of $3.3 million. The site the club is selling is 2420m2 but is not as central and does have 2 heritage listed houses on it. My guess based on this and DA approval is at least $5 million or so. It is hard to compare to the example I found as the location and type of development is different.

 

[bartman]

Let's buy parra park.

Did you hear the same rumour I did? :sarcasm:

 

[Maroubra Eel]

Did you hear the same rumour I did? :sarcasm:

I didn't hear any rumour bartman.

Well I might have heard something.

Apparently the club has been granted a peppercorn lease to parra park, similiar to the arrangement the ajc at randwick has with the state government. I believe the club is raising funds to build a new themepark after the closure of Australias Wonderland. I am led to believe the new venue will be the biggest themepark in the southern hemisphere and will be named Eels World!

Is this the same as what you heard?

 

[Maroubra Eel]

Apparently it's going to be a real moneyspinner and we won't have to rely on the pokies once it's built. Nathan Cayless will be the themepark manager. The feature ride will be called the Hayne Plane.

 

[Tony Bongo]

Apparently it's going to be a real moneyspinner and we won't have to rely on the pokies once it's built. Nathan Cayless will be the themepark manager. The feature ride will be called the Hayne Plane.

When will the leaks ever stop ????:crazy:

 

[Bigfella]

Better hope it's not a water park!

 

[born an eel]

There is a development site for sale on Phillip st which is 750m2 and has a restaraunt with river views and an asking price of $3.3 million. The site the club is selling is 2420m2 but is not as central and does have 2 heritage listed houses on it. My guess based on this and DA approval is at least $5 million or so. It is hard to compare to the example I found as the location and type of development is different.

looks like you can acquire a bargain if you value you it at $5M.

It must have failed to sell at auction and is now going for $2.1M
http://www.domain.com.au/Property/For-Sale/Land/NSW/Parramatta/?adid=2008572066

 

[Tony Bongo]

looks like you can acquire a bargain if you value you it at $5M.

It must have failed to sell at auction and is now going for $2.1M
http://www.domain.com.au/Property/For-Sale/Land/NSW/Parramatta/?adid=2008572066

It was passed in at auction. $2.1 M is not worth selling it for. They should keep it and build the escalator with the money we saved on not spending the cap.

 

[Suitman]

It was passed in at auction. $2.1 M is not worth selling it for. They should keep it and build the escalator with the money we saved on not spending the cap.

Escalator? Pffftt.
Just walk up the stairs you lazy bastard.

Suity

 

[Tony Bongo]

Escalator? Pffftt.
Just walk up the stairs you lazy bastard.

Suity

LOL I do every time. It wasn't my idea.:sarcasm: