New stadium - 2025

[Kilkenny]

Why not do it the other way around - new stadium at Castlereagh and renovate the Paceway?
Only joking, but unless they can get land in the lakes precinct they won’t build a paceway in the bush at Castlereagh.

Do you have any idea what the Paceway site is worth to developers?

Seriously we are talking massive money, it is a no brainer.

 

[forby]

Perhaps the land on Mulgoa Rd between the aged care residence and the highway, behind the old ambulance station. It is close to both transport and the club. It would also be a lot cheaper to acquire than the paceway.
The paceway would take a lot longer than 6 months to get a new facility. They could then stay where they are and find a buyer and build at a new location without having to close down for a couple of years.

 

[Munky]

Who owns the land the Paceway is on?

https://www.clubpacewaypenrith.com/wp-content/uploads/2021/12/2020-2021-Annual-Report-1.pdf

Reviewing the annual report Property, plant and equipment is $6.5m in the balance sheet. Given it is an audited entity it should be valued at market value.

Given the size of the land I imagine the $6.5m doesn't include it.

That said the annual report is one of worst to read I've seen so I could be missing something obvious.

Edit: The balance sheet says refer to Note 14 for PPE. Looks up note 14 in the notes and it is Employee Benefits? How the f**k did this get a an unqualified audit opinion?

 

[forby]

Maybe that is all it is worth without rezoning.

 

[herbert henry1908]

Perhaps the land on Mulgoa Rd between the aged care residence and the highway, behind the old ambulance station. It is close to both transport and the club. It would also be a lot cheaper to acquire than the paceway.
The paceway would take a lot longer than 6 months to get a new facility. They could then stay where they are and find a buyer and build at a new location without having to close down for a couple of years.

This area?

 

[Iamback]

Panthers owns that land.
There is a DA before the council to make it retail/entertainment

 

[Fangs]

Has it been decided what is happening to the land in Emu Plains?

Former Rocla site in Emu Plains purchased by Penrith Council for $50 million • The Western Weekender

Penrith Council intends to snap up the former Rocla site at Emu Plains for a hefty $50 million, the Weekender can reveal.

westernweekender.com.au

 

[murraymob]

If the stadium moves it will not get moved far from the club.the revenue before and after games at the club would be lost .i highly doubt at this late stage it is moving anywhere other than the current site

 

[The_Frog]

Who owns the land the Paceway is on?

https://www.clubpacewaypenrith.com/wp-content/uploads/2021/12/2020-2021-Annual-Report-1.pdf

Reviewing the annual report Property, plant and equipment is $6.5m in the balance sheet. Given it is an audited entity it should be valued at market value.

Given the size of the land I imagine the $6.5m doesn't include it.

That said the annual report is one of worst to read I've seen so I could be missing something obvious.

Edit: The balance sheet says refer to Note 14 for PPE. Looks up note 14 in the notes and it is Employee Benefits? How the f**k did this get a an unqualified audit opinion?

Fill a matchbox with dirt from the site, that would be worth $6.5m.

 

[The_Frog]

If the stadium moves it will not get moved far from the club.the revenue before and after games at the club would be lost .i highly doubt at this late stage it is moving anywhere other than the current site

I wonder if there is somewhere Howell Oval could be relocated to, not too far out of town.

 

[forby]

Behind the old ambulance station is not too far from the club to cause any real effect to the patronage.
It is also closer to the station which would be a bonus.

 

[forby]

The value of the Paceway site is dependant on its zoning. If the Council plays hardball it may be only worth $6.5m.
Apparently they have already rejected a rezoning request.

 

[TheEroticGamer]

As they should. We don’t need more concrete boxes in Penrith. If we’re gonna get rid of community staples they should be replaced with other useful shit for the people that already live here.

 

[Kilkenny]

100% the new stadium will be built upon the existing site.

The Paceway will eventually be developed for high rise density housing, retail, entertainment and commercial properties. The land value is potentially huge.

The vacant parcel of land Station Street, Jamison Road, Woodriff Street is the wild card, the old National TV site. Been vacant all the while I have live in Penrith which is 50 years. Could this site be used for parking, multi level or otherwise.

 

[Kilkenny]

Behind the old ambulance station is not too far from the club to cause any real effect to the patronage.
It is also closer to the station which would be a bonus.

I looked into buying an off the plan unit in Rodley Avenue, not to long ago and the Real Estate agent seemed fairly upfront in so much as it is only a matter of time before the Paceway Site is rezoned and developEd.

I know there was a lot of talk about the Paceway buying the site out at Castlereagh off Rickard Road which is used by mini bikes etc. for a new trotting facility. I don’t think it ever went through, but I’m sure still on the drawing board.

 

[soc123_au]

I looked into buying an off the plan unit in Rodley Avenue, not to long ago and the Real Estate agent seemed fairly upfront in so much as it is only a matter of time before the Paceway Site is rezoned and developEd.

I know there was a lot of talk about the Paceway buying the site out at Castlereagh off Rickard Road which is used by mini bikes etc. for a new trotting facility. I don’t think it ever went through, but I’m sure still on the drawing board.

My Parents have lived on Rodley Ave for 20 years. They have been told the Paceway is iron clad recreational only.

 

[martielang]

My Parents have lived on Rodley Ave for 20 years. They have been told the Paceway is iron clad recreational only.

100% this.

It only changes if someone wants to spend tens of millions on upgrading Mulgoa Road and the secondary roads surrounding it. That would likely make the whole project unfeasible.

In saying that, not sure how long the Paceway will be there, at least in it's current form.

 

[Kilkenny]

My Parents have lived on Rodley Ave for 20 years. They have been told the Paceway is iron clad recreational only.

Good luck with that. Money talks. The most valuable piece of real estate in Penrith.

 

[Kilkenny]

100% this.

It only changes if someone wants to spend tens of millions on upgrading Mulgoa Road and the secondary roads surrounding it. That would likely make the whole project unfeasible.

In saying that, not sure how long the Paceway will be there, at least in it's current form.

There’s no doubt which ever private developer takes on the project they will have to bear the brunt of significant infrastructure costs. At the same time it is a very large parcel of land and if height restrictions are relaxed you are looking at a lot of high density units, eight to ten stories, serious money involved.

 

[murraymob]

W

My Parents have lived on Rodley Ave for 20 years. They have been told the Paceway is iron clad recreational only.

When money is involved nothing is iron clan it zoning changes easily done