Sharks Leagues Club Development Plan

[sharkyboy]

the new development proposal got up

880 units making it the biggest in the shire

also getting a hotel, more retail space, more car spaces and bike spaces

only thing that got rejected was a playing field due to power lines

This sounds like great news.

Any idea when the **** will get started and building etc

 

[SF]

So what does this mean to us in terms of moola?

I've forgotten some of the details from the AGM, but I believe we get a certain percentage of the $ from the "uplift" (the extra 200 units). Possibly 10%. That was our incentive for supporting it.

In the end it means that we are on tracks for the estimates they presented at the AGM, as they were factoring in this being approved... Expecting $70m total from the development (since it began). $10m was paid back at the start. $7.5m is to be paid in April, $6m of that going to pay off all our loans (from private individuals), with the club now likely able to deal with a bank again. Then $10-15m of that total amount will be needed to pay for the new club. Leaving somewhere around $35-40m. This is all based off estimates of unit sale prices etc. And includes the assumption that we will sell our share of the retail/commercial side for a lump sum.

It also means that the eastern-side development should be able to start at the end of the season.

 

[HaroldBishop]

I've forgotten some of the details from the AGM, but I believe we get a certain percentage of the $ from the "uplift" (the extra 200 units). Possibly 10%. That was our incentive for supporting it.

In the end it means that we are on tracks for the estimates they presented at the AGM... Expecting $70m total from the development (since it began). $10m was paid back at the start. $7.5m is to be paid in April, $6m of that going to pay off debts to private individuals. Then $10-15m of that total amount will be needed to pay for the new club. Leaving somewhere around $35-40m. This is all based off estimates of unit sale prices etc.

Cheers SF.

 

[slide rule]

Better sell those units before the crash comes.

 

[sharkyboy]

Does any of this give any sort of safety/guarantee of being able to stay at shark park?

Will this equate to better leagues club/more parking which in turn gives us the ability to increase stadium size/roofing/seating etc

 

[slide rule]

I really don't think the ground should be improved at this point. Put the money straight into something that will return a reliable revenue stream.

 

[sharkyboy]

Does the retail and hotel etc ensure a constant revenue stream or is it more a one time thing?

Like will they be paying rent to us or once it’s built that’s it?

 

[HaroldBishop]

Does any of this give any sort of safety/guarantee of being able to stay at shark park?

Will this equate to better leagues club/more parking which in turn gives us the ability to increase stadium size/roofing/seating etc

Who would pay for it though?

 

[snowman]

Does any of this give any sort of safety/guarantee of being able to stay at shark park?

Will this equate to better leagues club/more parking which in turn gives us the ability to increase stadium size/roofing/seating etc

the parking lot is getting taken away mate

 

[SF]

Does the retail and hotel etc ensure a constant revenue stream or is it more a one time thing? <br />
<br />
Like will they be paying rent to us or once it’s built that’s it?

<br />
<br />
I edited my post after, but we will most likely sell our share/interest in those for a lump sum, and those figures above take that into account

 

[egg]

<br />
<br />
I edited my post after, but we will most likely sell our share/interest in those for a lump sum, and those figures above take that into account

I'd prefer a guaranteed revenue stream forever ,
But , I'm sure they have a better plan instead and don't piss it up , fingers crossed

 

[Gards]

the parking lot is getting taken away mate

where will you piss now?

 

[BlackWhiteBlue]

where will you piss now?

I know of some locations

 

[Gards]

Board shorts is not a location

 

[yadam]

the parking lot is getting taken away mate

And being replaced with 800 car spaces separate to unit requirements. That is 800 for the shopping center / leagues club for game day use.

 

[snowman]

where will you piss now?

in brians shorts

or in the school

 

[Gards]

hahahha

 

[BlackWhiteBlue]

in brians shorts

or in the school

Timmah

 

[snowman]

And being replaced with 800 car spaces separate to unit requirements. That is 800 for the shopping center / leagues club for game day use.

thats decent. would be multi level above or below which will be chaotic on game day but will be of value during the week.

 

[Addy]

It would have to be below