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The Development

Ozzi_78

First Grade
Messages
6,348
I have no idea.. but is selling the ground to the council or the state government an option for a possible upgrade to the stadium? We use some of the cash we get from the sale to upgrade it and then not pay rent? Just thinking out loud.. then the council/government can use it for their own events etc.
I’m not sure but I think the one thing keeping us “safe” is that we own that ground. We need a rich sugar daddy to just give us 50M to fix it up a bit.
 

Special K

Coach
Messages
19,239
Sharks acquiring more assets…. Yep going broke indeed.

This is incredible.

It gives us a new HQ for head office plus a merch store smack bang in the middle of Cronulla. I wonder what it cost but what a huge victory. The fact we bought it is very cool.

"It is also a substantial addition to our asset base, can accommodate Sharks staff and will increase our income and revenue through a new merchandise outlet." is a big victory. You can stick the staff out the back in offices and have the front be a low cost place for us to push memberships, merch and awareness in the face of every kid, family, adult etc who goes there for a coffee/feed. One of the best spots on the road. Just glad I don't work for the Sharks and have to handle parking there all day.

We now have ownership of land in Kareela, Wooloware and Cronulla.
 

Shark67

Juniors
Messages
32
Is one of the strategies behind this purchase to move the football department so we can lobby the government’s to build a new stadium for the south of Sydney? They have been lobbying for a cash injection to build a center of excellence and stadium revamp to no avail. How much could they get for the sale of shark park? Just a thought. It would be fantastic to see the sharks in a brand new mini version of Allianz within the next 5 years.
 

Ozzi_78

First Grade
Messages
6,348
Is one of the strategies behind this purchase to move the football department so we can lobby the government’s to build a new stadium for the south of Sydney? They have been lobbying for a cash injection to build a center of excellence and stadium revamp to no avail. How much could they get for the sale of shark park? Just a thought. It would be fantastic to see the sharks in a brand new mini version of Allianz within the next 5 years.
I don’t think our strategy extends that far. Currently it is to secure assets that appreciate in the face of pokie reform. The club wants to stay at sharks park and I don’t think our long term vision is to sell the land and fund a new stadium even partially.

From memory the land value already sold is about 20M without any revenue from apartments… that’s about 5% of what we’d need to build a bankwest. Unlikely.
 

Eion

First Grade
Messages
7,619
Nice work from the club. It’s a shame this government has ruled out any funding for us.

As they’ve made it about dollars and cents for schools and hospitals I hop VLandys does the same and f**ks of the grand final to the highest bidder
 

Stake Removed

First Grade
Messages
9,812
Nice work from the club. It’s a shame this government has ruled out any funding for us.

As they’ve made it about dollars and cents for schools and hospitals I hop VLandys does the same and f**ks of the grand final to the highest bidder
You can see him doing it, he won't take it well in regards to grounds not getting upgrades
 

Stake Removed

First Grade
Messages
9,812
A 30000 boutique stadium would be wish list.
I send the perfect ground Bayer Leverkusen, it takes about $30k behind one of the goals is a hotel people can watch from there rooms.
That would be perfect size for us
 

Brick Tamland

Juniors
Messages
104

Brick Tamland

Juniors
Messages
104
The Leagues club not opening until Feb 2024 at the earliest, and Aug 24 at the latest.
A new roof is needed and more cash.



I'd copy and paste the whole article but its a real pain with that site.


Sharks Leagues Club hit by unforeseen costs and industry woes​

Murray Trembath

By Murray Trembath
Updated April 11 2023 - 6:38pm, first published 4:30pm

Computer generated image of the club showing the north-facing deck. A small pool has since been added to plans.

Computer generated image of the club showing the north-facing deck. A small pool has since been added to plans.
Unexpected construction costs and procurement delays have impacted the new Sharks Leagues Club.
The fit-out cost has risen to between $28.5 million to $30 million, and the opening pushed back to February 2024 best case scenario, and August 2024 worst case scenario.

The club had hoped the project would by completed by mid to late 2023.

Sharks chief executive Dino Mezzatesta said, "We are working hard to find solutions to a roof replacement and facade replacement that have contributed to the time blow out".
"Both were not provisioned or accounted for as works required to be done and there are long procurement lead in times and designs to be completed for both projects.
Computer generated image of the redeveloped leagues club. Picture supplied

Computer generated image of the redeveloped leagues club. Picture supplied
"It was never envisaged that we would have to replace the entire roof on the building.
"Once it was realised that the roof was going to be new, the secondary problem that arose was flashing a new roof to the old facade. Our engineers advised us it was best to replace it to ensure the building is water tight and not compromised with an old structure.

"We have also been impacted by cost escalations across the industry."
Mr Mezzatesta said in the club's annual report Sharks at Kareela had "again proved to be the ideal home-away-from-home during the 2022 season".
"As we were upon acquiring the club, we remain delighted with the facilities and service Sharks at Kareela offers and have no doubt it will continue to be a valuable asset in complementing our new Sharks Leagues Club at Woolooware once construction has been completed," he said.
"We also revealed discussions had taken place last year surrounding another potential amalgamation with a licensed Club in Coffs Harbour, the Park Beach Bowling Club, in what were plans to add to our licenced club and property portfolio.
"While our initial amalgamation proposal was rejected by their board, our approach was noted in their Annual Report and with the success of our football partnership with the Coffs Harbour region we haven't ruled out the possibility of exploring similar opportunities in the future."


The annual report said membership figures remain strong, now numbering over 27,000.
Meanwhile, Sutherland Shire Council has approved the development application for new features in the leagues club at Woolooware Bay, which have been added since earlier approvals.
They include a family play area and "small" pool on the north-facing deck and to have amplified live music, including bands, on the deck until 10pm.
A 24-month trial period and other conditions on the deck operations were imposed.
The total number of patrons on the premises at any time must not exceed a total capacity of 3170. The maximum number on the deck will be 850.
The approval states the premises are not permitted to be used as a nightclub.
 

Brick Tamland

Juniors
Messages
104
$28.5m -$30m is a fair cost escalation from the original ~$12m estimates back when they sold the commercial premises etc in early 2019.

The place was shuttered in December 2019, so nearly 3.5 years ago - so why has it taken until now to work out the roof needed to be fixed?
 
Messages
4,051
From the outside the whole thing looks to be an utter shambles. Boxing themselves in so there is simply no room what so ever for any grandstand expansion on all sides of the ground, always thought the place will just end up as a few more blocks of apartments anyway.
 

Ozzi_78

First Grade
Messages
6,348
From the outside the whole thing looks to be an utter shambles. Boxing themselves in so there is simply no room what so ever for any grandstand expansion on all sides of the ground, always thought the place will just end up as a few more blocks of apartments anyway.
That’s the thing though cheese is the club keeps saying they have secured their future there but I see no way of them staying there long term. Just bought 7M property at Cronulla but say they have higher development costs. Where is all this money coming from?
 

Ozzi_78

First Grade
Messages
6,348
At the same time losing income they would have budgeted for with it opening at least 18 months late. Hopefully there was some good checking of the contract details before they signed.
 

shaggs

Coach
Messages
10,826
At the same time losing income they would have budgeted for with it opening at least 18 months late. Hopefully there was some good checking of the contract details before they signed.
I reckon there were provisions from the developer/builder to be paying a sum each year that covers the lost income. The longer it goes on the more they are paying.
 

shaggs

Coach
Messages
10,826
Spoke to a guy today that is doing some glasswork in the building and another who is working on The lifts. Both have said that the joint is at least 12 months away. The interior commercial area has no fit outs at all. It’s a shell of nothing .
 
Messages
14,285
I reckon there were provisions from the developer/builder to be paying a sum each year that covers the lost income. The longer it goes on the more they are paying.
The club was getting a sum each year the team were at Kogarah, 2-3 million per year? something like that. Hopefully that has carried on for each year after.
 

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