To balance the argument a bit...Makris has recently sold the Avenues and Northgate [$40m] and is selling the Optus building [$50m+]. So hopefully the funds may go here [if the banks dont keep it]. Do people understand in this environment its not the developer calling the shots or not wanting to star...

Whats the forums view on the Festival centre - is it just a 1970s relic that should go and be replaced by something "special" to really put the finishing touch on the whole re-development? Or does it have too much sentimental value etc?

I know this is going off the subject but ....Prince George an encumbrance [what you are referring to] is common and is more than fair as its in place before you buy in and is not the same as this whatsoever. My point is ACC have no encumbrances/rules in place or authority to do this - that is the po...

I agree 100% the fence is ugly but my re-collection is that this fence was put up more in protest by Makris. Council first put hedging around Makris property without his approval. Makris point is a valid one - where in the world can any authority just put up a hedge around your property without your...

When you say he "prefers" to hold it, it may also be because there is no viable alternative but to hold it. If hypothetically you cant get finance for a development and if you were to sell it you would only get your money back [or infact loose money] what would you do [esp. knowing "o...

If it means anything Makris has put on the market his Optus building, Northgate & Avenues shopping centres, so maybe $100m if sold. But he has also bought the Endouvour Hills Centre Vic for about the same money. Confirming to me its far easier to buy a built shopping centre with little risk and ...

My question Wayno to the owners is when does the approval lapse? Its been over 2 years and I also note that council has changed the height limits along that area of the lake. Could they loose the approval and not get it again [at the same height]? PS Who is the builder?

itouch - umbrellas arent actually allowed at the football - so maybe that is the real joke. Its fair enough to joke about being soft but the real argument is that for $535m we should be getting a lot more. Its like ordering a $500k ferrari and not geting air-cond/radio etc as its an extra and you go...

I never thought common sense would be an optional extra ....

Not having the footbridge undercover is a big mistake - most games played in winter + no umbrellas allowed into ground = your going to get very wet.

I am very surprised they are leasing these as most commercial tenants arent going to move in for just a 1 or 2 year lease but would want at least 5years if not longer. Seems like the next 5 years not much may happen except remediation and maybe a section for stage 1? Hope I am wrong but I havent hea...

No, not at all as the cost to police it [ie the council wages etc] just negates the income. Westfield could take it back from council at any time but its not worth their while. Its with no staff - ie auto. machines it becomes profitable.

My guess is that he would never sell the retail/commercial but the residential could be left to others with more experience & minimise risk, which would make the project a lot more appealing to the banks. If say Mirvac, Mulitplex etc came in for the residential it would give the project an insta...

Exactly! How can you go to market 5-10 years ago if it was only approved 1.5years ago?

Ben are you for real comparing this project with the Uno apartments!! Firstly Uno is actually bankrolled by the Commonwealth Govt [ie you and I as taxpayers]. If the govt wasnt involved it would add maybe 2-3 years to this development! Your comparison actually highlights my point that the finance [i...