Proud Shark
Jaws
- Joined
- Feb 3, 2015
- Messages
- 8,198
- Reaction score
- 2,474
Hope you're right.
Official Shark Park & Woolooware Bay Development
- Thread starter sharks.com.au RSS
- Start date
I agree. Maybe late next year at best for the actual club
Rest of precinct will be open during next 6 months.
djhabib
Jaws
I've been told they haven't asked for it.
Still won't be finished mate. Maybe, Maybe finals at a pinch.
If you really want to go I could show you around.
I was in Bunnings the other day and a bloke in a red shirt approached me and asked if I wanted decking.
Luckily I got in the first punch.
BlackWhiteBlue
Jaws
See i knew you were lying cos Bunnings employees never come up and ask if you need anything….
Boom!
SF
Mako Shark
No obvious changes to leagues club since the final, though from a long way away
SF
Mako Shark
Members Information night tonight
SF
Mako Shark
Looking at late 2024 opening of the club. Club has reached some sort of written agreement with developers today, and also using various devices to help force that. Roof is due to be finished Mar 2024, and I think facade replacement (of old club building) a couple of months after that. Then full fitout
Roof and facade cost have gone up to $9 million and fitout up to $28 million, even though scaled back a bit. Basically said it would have been better to knock down old club (though I guess we would have been away from the ground even longer). Currently 22 million in bank and 17 million loan approval to help cover this. Plus other assets.
Otherwise finances seem in control. Cronulla St lease looks like it would be cashflow positive against $4 million loan costs (3 million or so paid upfront). Kareela still making a million a year.
Exact Car parking setup for leagues club is unclear, and won’t be certain until a parking company is appointed. However I would think that they would still have to abide by DAs and traffic plans etc
Main presentation was short, then a few useful questions, and a lot of off topic questions. Good turnout though
Ground capacity predicted to be 17500 and another 500 or so watching from club (corporate) once finished. Downstairs part of Peter Burns Stand is still ours (well at least some of it), and that will be opened up again as soon as we can… small possibility for next year.
No chance of selling Shark Park for apartments, but would consider options of selling ground to government or NRL and leasing back, but nothing concrete there. Said the NRL (Vlandys and Abdo) are doing everything possible to get us some cash, but realistically nothing likely while we are private ground in safe seat.
Roof and facade cost have gone up to $9 million and fitout up to $28 million, even though scaled back a bit. Basically said it would have been better to knock down old club (though I guess we would have been away from the ground even longer). Currently 22 million in bank and 17 million loan approval to help cover this. Plus other assets.
Otherwise finances seem in control. Cronulla St lease looks like it would be cashflow positive against $4 million loan costs (3 million or so paid upfront). Kareela still making a million a year.
Exact Car parking setup for leagues club is unclear, and won’t be certain until a parking company is appointed. However I would think that they would still have to abide by DAs and traffic plans etc
Main presentation was short, then a few useful questions, and a lot of off topic questions. Good turnout though
Ground capacity predicted to be 17500 and another 500 or so watching from club (corporate) once finished. Downstairs part of Peter Burns Stand is still ours (well at least some of it), and that will be opened up again as soon as we can… small possibility for next year.
No chance of selling Shark Park for apartments, but would consider options of selling ground to government or NRL and leasing back, but nothing concrete there. Said the NRL (Vlandys and Abdo) are doing everything possible to get us some cash, but realistically nothing likely while we are private ground in safe seat.
Last edited:
Matty C of the Shire
Great White
Wow loans got us in trouble in the first place. Though if we get $$ back quickly with opening of club house and Kareela pulling $1 mil a yr and other assets pulling in $ then I’m ok, but I hope we don’t stretch ourselves
so we got an million outstanding For the old bank site? Or did it cost $7 million, and we paid up $3 million and got a loan of $7mil?
I wouldnt be open to seeking ground to government or NRL, as they puts a higher risk for us being moved from stadium.
SF
Mako Shark
Yeah I can't remember the exact figures but we paid a bit less than half, and then got a loan for a bit more than half.
I think the loans are seen as fairly standard/safe this time.
But the costs of the leagues club are a bit depressing.
SF
Mako Shark
One more note... they did an estimate last year of what it would cost to replace the ET Stand with a full-length Western side stand seating about 6000. Estimates then were $130 million or so. Both numbers might be slightly inaccurate.
Matty C of the Shire
Great White
Matty C of the Shire
Great White
Proud Shark
Jaws
- Joined
- Feb 3, 2015
- Messages
- 8,198
- Reaction score
- 2,474
Thanks SF.
So frustrating as any idiot could have seen it would have been smarter to rip it all down and start again for the club. Probably easier for the developers too and might have been able to get a new PB fit out/roof out of it.
Kareela has turned out to be such a great purchase.
Sounds like if we want a new ground, all you locals will have to campaign to boot the libs out.
So frustrating as any idiot could have seen it would have been smarter to rip it all down and start again for the club. Probably easier for the developers too and might have been able to get a new PB fit out/roof out of it.
Kareela has turned out to be such a great purchase.
Sounds like if we want a new ground, all you locals will have to campaign to boot the libs out.