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Sharks Village development?

Quigs

Quigs

Immortal
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34,792
jc155776 said:
Fin Review has a pretty detailed story figures wise on it.
Click to expand...

What did they say in the Fin Review JC ?

I went online to have a geek but they wanted me to sign up to read it.

I ask you ..... What good minded radical lefty would sign up to that right wing Tory sh!tsheet.

Anyway .... what did it say? .... what did it say?

Cheers
Declared Idiot #88
Quigs
 
Y

yadamisha

Juniors
Messages
497
Originally Posted by AFR Website
Sharks project finally in the hunt
PUBLISHED: 04 Nov 2010 12:08:30 PRINT EDITION: 4 Nov 2010
Lisa Allen
Cronulla Sharks Leagues Club will finally be redeveloped by a consortium of lawyers and real estate executives who cut their teeth working with property heavyweights Harry Triguboff and Lang Walker.

The debt-laden club’s 10-hectare site, deep in the heart of Sydney’s Sutherland Shire, will be redeveloped to incorporate a new leagues club premises as well as significant retail and residential dwellings.

The cost of the project is estimated at more than $100 million and it is expected to take at least five years to complete. Previous development approvals have been scrapped and a new master plan will be worked up.

The club has appointed David Hynes, Meriton’s former corporate counsel, as its property manager. The development consortium comprises Ben Fairfax, managing director of Bluestone Property Solutions and a former long-term executive with Walker Corporation, and Steve Grant, who sold Grant Constructions to Kevin Seymour’s Watpac in 2004.

Mr Grant’s Capital Corporation will finance the redevelopment. A third member of the consortium is Tony Touma, a Sydney residential-land developer who established his company Parkview in the 1990s with Rodric David, son of grocery tycoon John David.

“Our members have had promises from previous administrations that the land would be realised and the development was going ahead for decades. This has not happened,’’ said Cronulla Sharks chairman Damian Irvine in an interview with The Australian Financial Review .

“But because of the thoroughness of the latest process with Mr Hynes’s Winston Langley, which canvassed the entire market, we have come up with a structure that will go ahead,’’ he said.

Mr Hynes foreshadowed that the proposed redevelopment would be submitted to the Department of Planning instead of the local council. The club, carrying about $12 million in debt from the former administration, would continue to own the land.

“One of the attractions of the offer was that it involves a mix of lump- sum payments and annuity income for the club,’ Mr Hynes said.

Ben Fairfax, who was involved with Walker Corp’s Finger Wharf development, said that “this is not only about short term revenue benefits for the club. It’s about achieving an outcome for the club that makes it not just dependent on its revenue streams.’’

The Australian Financial Review
 
Quigs

Quigs

Immortal
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Thanks Yada ...

Can someone with a brain explain all this to moi. I see it involves a whole new plan. Whose on what and how does it all happen ... in simple terms for a very simple man, me. What does the club get up front etc etc.

Thanks in advance.

Declared Idiot #88
Quigs
 
Y

yadamisha

Juniors
Messages
497
Main Points
  1. The club’s 10-hectare site will be redeveloped to incorporate a new leagues club premises as well as significant retail and residential dwellings. - which would mean a new PB stand I'd imagine as the old one would be scrapped along with the old leagues club drastically cutting club maintenance overheads.
  2. the cost of the project is estimated at more than $100 million and it is expected to take at least five years to complete.
  3. Previous development approvals have been scrapped and a new master plan will be worked up.
  4. Mr Hynes foreshadowed that the proposed redevelopment would be submitted to the Department of Planning instead of the local council. - thank God for that
  5. The club would continue to own the land - leased back to the developers over a 99 year lease with yearly rent to the club as per below.
  6. “One of the attractions of the offer was that it involves a mix of lump- sum payments and annuity income for the club,’ Mr Hynes said. “this is not only about short term revenue benefits for the club. It’s about achieving an outcome for the club that makes it not just dependent on its revenue streams.’’
 
Quigs

Quigs

Immortal
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34,792
Thanks again Yada,

Next question from the floor.

When and how long (time frame) would a new plan curtail. We are not going to be put on the backburners again are we?

What is the general consensus of when the first blows would be made.

When do we get to the "Show us your money" stage.

Cheers
Declared Idiot #88
Quigs
 
Quigs

Quigs

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34,792
I just want to live long enough for us to become stuck up silvertails.

Even to the extent that we might be called "The Rorters"

Now how cool would that be.

Cheers
Declared Idiot #88
Quigs
 
The Shire

The Shire

Juniors
Messages
474
Quigs said:
I just want to live long enough for us to become stuck up silvertails.

Even to the extent that we might be called "The Rorters"

Now how cool would that be.

Cheers
Declared Idiot #88
Quigs
Click to expand...

In my opinion after just leaving a lecture on property development and then land and property law... at least 7 years before we get any real monetary benefit. At least...
And considering it has to go through planning approvals again, this time through a higher body, works would not start for a while.

This all proves to me the club is in the right direction. If and when the club does this they have one shot and it has to be done right!
 
Quigs

Quigs

Immortal
Messages
34,792
The Shire said:
In my opinion after just leaving a lecture on property development and then land and property law... at least 7 years before we get any real monetary benefit. At least...
And considering it has to go through planning approvals again, this time through a higher body, works would not start for a while.

This all proves to me the club is in the right direction. If and when the club does this they have one shot and it has to be done right!
Click to expand...

Okay thanks, TS.

All this development applications stuff yardah, yardah yardah... with Govt departments and local councils etc is all above my head. And I will leave it there.

Way I see it, this is all coming together finally but .... its got to be resubmitted now. There are some big boys involved - is that correct ?

What I really want to know is when (what timeframe in the big picture) does someone actually walk up the steps of the club and gives a big fat cheque / downpayment to 'us'.

That is the big start for me.

Cheers
Declared Idiot #88
Quigs
 
stupidhumour

stupidhumour

Juniors
Messages
262
The Shire said:
who ever this player is. wait for him to get sacked, he has a year off and we buy him at a bargain price. clubs have done it to us now lets do it to them.

Do on to others as you would have them do to you... or how ever it goes. f**k em
Click to expand...

Why would we need to wait a year????
 
Quigs

Quigs

Immortal
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34,792
Funny hey, remember at the beginning of this year when that new signing for the Easts Rorters was away on holidays at Airlee Beach and lit someones fart and the whole NRL wanted him thrown out and deregistered and shot and burnt at the stake for being an idiot and blowing his last ever ever lifeline.

Yeah the same bloke that just got the International Player of the Season. Did anyone mention his lighting his mates farts at Airlee during his award ceremony.

I'm all for lifelines from us, if it means winning a comp.

Sign up anyone who has good NRL form, we can counsel the hell out of em later.

Cheers
Declared Idiot #88
Quigs
 
Y

yadamisha

Juniors
Messages
497
Here is some of your answers Quigs

Not another false dawn - Sharks seal lifeline deal

Chris Barrett

November 5, 2010 AFTER an interminable wait, the landmark property deal Cronulla believe will transform them from also-rans to genuine NRL contenders has arrived.


The Sharks will be paid an upfront amount of $2 million, a long-term annuity of more than $1m and another undisclosed lump sum after agreeing, provisionally, to link with a development consortium and move ahead with the long-planned residential and retail project next to Cronulla-Sutherland Leagues Club. The development, which has been in the pipeline for more than a decade, appears ready to progress, after the Cronulla board selected a consortium made up of the firms Bluestone Property Solutions, Parkview and financier Capital Corporation as partners to develop the 10-hectare site adjacent to Toyota Stadium. It is expected to cost more than $120m and take five to seven years to complete.

The partnership is pending the approval of Sharks members but would absolve the $12m debt tied up at the club, Sharks chairman Damian Irvine said. ''The members have had a lot of false dawns so this is a significant step,'' Irvine said. ''I said at the start of the year our plan was to be a leader in three years' time, and that's where I think we're going to be by 2013.''

Under the proposed agreement, the Sharks would retain ownership of the land, to be developed into mixed-use retail and residential dwellings, and be paid rent - totalling more than $1m a year - by the consortium. A $2m payment will be an immediate and welcome addition to the stretched Cronulla cash flow, while another major lump sum would be deposited on completion of the project.

A potential amalgamation with another club - the leading contender is Gymea's Tradies - is still being considered by the Cronulla board and could be put to members. Irvine and Sharks officials met NRL chief executive David Gallop last week to discuss their financial status, and Cronulla said it expected the football club to be breaking even by 2012.
Cronulla will attempt that as the only team in the NRL without a chief executive. It is understood the club has called off its search for a replacement for Richard Fisk, and the role will be shared by general manager of football Darren Mooney and Peter Beaumont, who oversees the commercial and sponsorship division.

The development consortium is led by Bluestone managing director Ben Fairfax, a former executive with Walker Corporation, and is likely to submit a new master plan to the Department of Planning.

http://www.smh.com.au/rugby-league/...sharks-seal-lifeline-deal-20101104-17fx4.html
 
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M

Mansharkie

Juniors
Messages
22
Could someone send this article to TK from the Big Sports Breakfast, because he had a go at us again this morning while speaking with ET, that there is no where for us to go as we're broke. Unfortunately ET didn't know about this either & basically said our financial situation is bleak.
 
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