Sharks Woolaware development

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Özil

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Work has already begun on this project but I can already see this fail as the sales for buying the apartments have been really slow, out of the 600 available, already 20 people have bought into it, leasing for retail has been non existent as I have read, its far too expensive and they won't able to move into their space til 2017.

This has disaster written all over it since the Sharks made plans to build a town centre with retail and apartment living but if they pull this off, kudos to them but if not, we can all point and laugh at them til they disappear in their own financial debt.

But since we couldnt pull off the Oasis, there is no way the sharks will be able to pull this one off as this project will collapse.
 

Horny Wog

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Apartments will sell.

Retail will be difficult for small businesses as the rent would be outrageous, unless the likes of Coles or Woolies buy into it.
 

south of heaven

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Gallen has a 3 year lease already with retirement not far off his next venture will be a " vitimim " supplement store
 

bcmf

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Apartments will sell.

Retail will be difficult for small businesses as the rent would be outrageous, unless the likes of Coles or Woolies buy into it.
Woolies/Coles would be nuts not to jump in. If the flats sell, it'd be a money spinner.
 

Horny Wog

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Woolies/Coles would be nuts not to jump in. If the flats sell, it'd be a money spinner.
agree 100%

if my memory serves me right Woolies has a servo pretty much next door to Shark Park. That servo will be loving the extra commuters in the next few years
 

Bad Billy

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Woolies/Coles would be nuts not to jump in. If the flats sell, it'd be a money spinner.
Maybe not. Might not be the population to be successful.
I live in helensburgh, a town of 5000 and the bi-lo went under and sold out to Coles, and I doubt they're killing it.
I do my shopping whenever I feel like it, it's never busy.
I doubt there'll be 5000 people living in 600 apartments.
 

CroydonDog

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Maybe not. Might not be the population to be successful.
I live in helensburgh, a town of 5000 and the bi-lo went under and sold out to Coles, and I doubt they're killing it.
I do my shopping whenever I feel like it, it's never busy.
I doubt there'll be 5000 people living in 600 apartments.
Coles (wesfarmers) owns coles. Always has

I think the development will struggle. It's not exactly in a prime location
 

Vlasnik

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If they run the Woolaware development project like they do their club it's doomed to fail.
 

Mr Invisible

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By investors ... yeaaaah good luck with that unless you are charging like $1500 a week in rent you'll never make your money back.

Too expensive an entry price to get a decent rental return/yield on it.
 
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Natboy

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I think it will go well but I am still holding back and probably won't be investing as it is risky like the Oasis without the corrupt arabs.
I might regret it like I do with Harris Park but that's life.
I'm not sure if you know what new units sell for in the area Mr I, especially on the water. There's not a lot of vacant land in the area.
It's actually priced pretty well and no doubt the 3 bedroom units will be up high.
I'd say anything 2 or more levels up will have 180 degree water views and city views and they will never be built out
 

chris_e_fresh

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1 million dollars for a 3 bedroom unit

what a crazy city we live in
 

Özil

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Its a property development on a swamp.

This is similar to the Rhodes project on the parramatta river except rhodes was a success because of the chinese investors.

Not even the Chinese have had a single look at this sharks project and that will tell you something is not right about this development...
 
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