I'd imagine that part of the value of the development relies on Shark Park being our home ground.
probably opposite, more land to build more units.
I'd imagine that part of the value of the development relies on Shark Park being our home ground.
When do we get financial reports?
No link - hearing it from someone in the know.
FFS , It seemed all mapped out.
Residential sales selling strongly generating income for both club and the developer .
Developer starts on retail , more profits for both club and the developer .
Leagues Club gets built overlooking Botany Bay with patronage by the local residents , shoppers , members and gameday crowds . More profits to Club .
This all providing excess funds for ground upgrade and to become a Sydney NRL powerhouse club .
What the F has changed ?
As Captain Edmund Blackadder said, there was one tiny flaw in the plan.
“It was bollocks!”
Hmmmm... I don't think the original plan was bollocks at all.
I think the plan changed a lot along the way when some folks spent more time focusing on how they could rake in a personal profit out of all of this rather than what was best for the Club and its sustainability for the long term.
Hmmmm... I don't think the original plan was bollocks at all.
I think the plan changed a lot along the way when some folks spent more time focusing on how they could rake in a personal profit out of all of this rather than what was best for the Club and its sustainability for the long term.
Any chance of any name and shame with public lynchings ?
Perhaps even some repatriation ?
CROOKS !!!
In a word...FUNDING! Banks are pulling back significantly on development funding given new APRA rules. (even with precommitments) Trust me, this could get very ugly for many people that rely on cheap debt to fund their lifestyle. If any of you have recently tried to get an interest only loan you will start to understand, but that is just the tip of the iceberg.
There are new lenders filling the gap, but the cost of borrowing is much higher and often means developments are no longer viable.
I thought there was a glut of new apartments currently being built across Sydney?
Yes, but most of those were approved at a feverish pace with cheap finance and housing supply falling well short of demand. The housing market is correcting at the moment.
We’re not talking about housing development here though... this is about commercial/retail development which is entirely a different prospect because of a completely different financial model. The issues ahead for the Board is to secure the funds for both the commercial development as well as a potential upgrade to Shark Park. At some point, given the pressure to relocate to Allianz and ANZ, the decision to upgrade the stadium could be just creating a white elephant and a poor financial risk.
FFS , It seemed all mapped out.
Residential sales selling strongly generating income for both club and the developer .
Developer starts on retail , more profits for both club and the developer .
Leagues Club gets built overlooking Botany Bay with patronage by the local residents , shoppers , members and gameday crowds . More profits to Club .
This all providing excess funds for ground upgrade and to become a Sydney NRL powerhouse club .
What the F has changed ?
If any of you have recently tried to get an interest only loan you will start to understand