The Development

[txta2]

Db

 

[carcharias]

My mate lives down near Oak park
Been there for years. About 6 years ago he had to get a moped to get around the joint on weekends.
The place has been screwed parking/traffic congestion wise for well over 20 years.
No use blaming an incomplete building development for that now.

If it weren't for the development the road out the front would've be single lane forever.
They still would've built the f**k out of every other joint too.

 

[Eion]

My mate lives down near Oak park
Been there for years. About 6 years ago he had to get a moped to get around the joint on weekends.
The place has been screwed parking/traffic congestion wise for well over 20 years.
No use blaming an incomplete building development for that now.

If it weren't for the development the road out the front would've be single lane forever.
They still would've built the f**k out of every other joint too.

Yep agree. We need this type of development in the area not only for the club, but for jobs and services. There's 1 friggen proper woolies in Caringbah and I hate it's guts.

If we wait for council / govt to make the first play literally nothing would ever happen.

 

[shaggs]

Yep agree. We need this type of development in the area not only for the club, but for jobs and services. There's 1 friggen proper woolies in Caringbah and I hate it's guts.

If we wait for council / govt to make the first play literally nothing would ever happen.

Most expensive woolies in the shire too.

Traffic in Cronulla is a joke most weekends. Good luck getting stuck in that carpark and trying to get past the train station.

 

[Quigs]

What about Jobsen Growthe? Where will he park?

I blame Morris-scum.

 

[Card Shark]

What about Jobsen Growthe? Where will he park?.

What about Eric junior junior.

 

[Frank Discussion]

Yep agree. We need this type of development in the area not only for the club, but for jobs and services. There's 1 friggen proper woolies in Caringbah and I hate it's guts.

If we wait for council / govt to make the first play literally nothing would ever happen.

The original development application was really good and has been approved; a nice shopping centre on the eastern side with bay views and restaurants so I can't see how we "need" these extra units. I'm led to believe the developer hardballed the major retail tenant trying to get them to stump up cash for the build. Woolies and co told them to f**k off. Now woolies are looking at building a gun site on Parraweena road. So to cover this shortfall the developer have put 200 more units into the scope.

 

[Russell Crowe's Band]

hmmmm

 

[Ads]

The original development application was really good and has been approved; a nice shopping centre on the eastern side with bay views and restaurants so I can't see how we "need" these extra units. I'm led to believe the developer hardballed the major retail tenant trying to get them to stump up cash for the build. Woolies and co told them to f**k off. Now woolies are looking at building a gun site on Parraweena road. So to cover this shortfall the developer have put 200 more units into the scope.

The original plan was never the original plan.

 

[Defer to the coifed]

how much money is in this for sharks? Does the income stream improve?

 

[Frank Discussion]

It's hard to know. Judging by the chatter on twitter; some comments made by the board at the AGM indicate the structure of the income stream has changed, and with only a cursory understanding it seems for the worse.

The worrying thing is the lack of transparency. These things were easy to find out once.

 

[taipan]

Hence the need for the hotel and extra 200 units?

Thought the deal was for sale unit no 300 thereabouts, share of profits on sales between developer and Sharks.Rental income on a 99 year lease on retail to the Sharks.
Can't be lack of demand on units from what I hear.
Are we now getting ripped off?

I smell a" not again" for the Good guys.One minute a diamond, the next a lump of clay.

 

[carcharias]

My mate sold his unit already
Wasn't even built.
Made a heap in it too.

 

[carcharias]

How's that artist impression
as if they'll have rooms looking into the ground down near that s/e corner entry.
Plus all those bullshit green garden areas on the other side of the PB stand

They've just upped the geezus out of it to see what they can get away with.

 

[Russell Crowe's Band]

Ben Fairfax, the managing director of Bluestone Property Solutions, said the Sharks would get a percentage of the revenue from the sale of residential properties as well as a share-holding of the retail, something that would provide the club with an income stream. ''We've advanced the club a proportion of that, the $10 million, and by cash-flowing that out, they'll get redistribution of other forms of revenue in the future from the residential [sales],'' he said. ''At the moment it's as though they've received the first 314 apartments' [of an expected 600] worth of revenue upfront.''


http://www.smh.com.au/rugby-league/l...ref_map=%5B%5D



http://www.afr.com/real-estate/cronulla-sharks-to-get-bigger-bite-of-redevelopment-profits-say-developers-20160928-grqatr


"it is also expected to be paid an ongoing dividend between 750k and million a year if the joint venture retains ownership of the retail area, or 9 million and 20% of the profit if it sold"

From the AFR in September.

so...make of that what you will.

did anyone go top the AGM?

 

[taipan]

My mate sold his unit already
Wasn't even built.
Made a heap in it too.

Has he got long pockets when shouting?

 

[sharkman73]

My mate sold his unit already
Wasn't even built.
Made a heap in it too.

The same anywhere in Sydney.

 

[jc155776]

They should make it even bigger.

With mass illumination of the whole project so it glows all night for everyone to see.

Build it like Biff Towers and stick a casino in it.

 

[DJShaksta]

They should use cold rivetted steel girders with cores of pure selenium.

 

[Card Shark]

With that many apartments, it's gunna need a brothel in there somewhere.