COM: Harbourtown Stage 3 Expansion

[how_good_is_he]

Listen if you owned the property [which is now privately owned] you would want to maximise the money being earned or how else are you going to pay for the hundreds of millions you paid the govt in the first place, the $200m terminal expansion, the massive council rates every year, blah-blah-blah...Ikea, Harbourtown etc would be paying tens of millions in rent every year and bring in far more per sqm than a runway would. In fact the value of the land is now far more valuable than the airport.

[stumpjumper]

In fact the value of the land is now far more valuable than the airport.

CLANG - the penny drops. This is why the likes of Macquarie like buting or controlling airports. Lots of cashflow via fees to investors and charges to captive users on the way through, and the chance to liquidate some valuable land on the way through and at the end of the game.

What made me laugh, though, was story, as I heard it anyway, of the farmer from Two Wells or somehwere up there whose dad had wandered into the airport on day in the 1960's and offered to cut their grass for them. Thanks, they said, be our guest. And make sure you come back nest year too. So the family continued the tradition of bring ing their machinery down to town once a year, reaping and baling the airport's very valuable feed crop, then selling it.

So here it is, 2000 and something, and one of the mind-like-a-steel-trap commercial airport managers is looking out a window at the bloke on the tractor baling the hectares of tall dry feed and loading it onto his truck.

'How much are we getting for those bales?' he asks....

[Burger]

Sorry to get back 'on-topic' everyone but I've now had it confirmed from a variety of sources that it WILL be a Woolworths and at least 10 specialties of a more traditional neighbourhood centre nature.

I don't know what sort of effect that would have on surrounding Centres - apart from Glenelg and Fulham Gardens there are several smaller convenience centres but we know Harbourtown can be anything but convenient, so how much will they really be hit...?

[rhino]

it WILL be a Woolworths and at least 10 specialties of a more traditional neighbourhood centre nature.

Hahahahahahaha ... Your traditional neighbourhood centre is supposed to be one you can walk to from home - between you and the bus stop or train station, for example. Putting a "traditional neighbourhood centre" next to Harbourtown is a bit of a joke as it's not really a short walk from any neighbourhood! No problem - people will just drive there. I wonder if there will be an obesity clinic there.

[pushbutton]

Why should there be an obesity clinic, of all things?

[Like putty]

I wonder if there will be an obesity clinic there.

Cute. Fast food outlets, mall shopping and obesity clinics - a closed cycle.

Does anyone know who is the developer behind this project?

[Burger]

Lewis Land is a private developer out of Queensland and they own the Centre outright. They are in partnership with someone on their Gold Cost and Perth developments (both called Harbourtown) but I can't recall who it is and they are in the middle of the big Waterfront City project in Melbourne (the big ferris wheel near Telstrea Dome is part of it).

Look 'em up at http://www.lewisland.com.au

[aussie2000]

ummm do you mean the Harbourtown in Waterfront city, melbourne

[Burger]

Hey aussie2000, made a couple of enquiries over the weekend and I'm told the entire project is a JV between ING Real Estate and Lewis Land (tho could be wrong). LL have a lot of residential development experience in Queensland.

[tommy_M]

Harbourtown is already overcrowded, why worsen the situation by placing another supermarket to the locality, when already you have a Foodland on Burbidge Road or the Coles down at Glenelg. Woolworths already has an establishment at Glenelg, and I doubt the placement of a supermarket at that locality will draw a large customer base from the area (servicing only West Beach residents).

How many woolworths are there between Marion and West Lakes? 1; Glenelg.
Remember the Bay Junction Redevelopment?
Well, thats going to see Woolies Glenelg closed for a year.
You may like to put two and two together there, more info will come through the cracks before too long.

[AtD]

How many woolworths are there between Marion and West Lakes? 1; Glenelg.

Five, actually. Glenelg, Kilkenny, Hilton, Findon and Cumberland Park.

[Brando]

From Adelaidenow
http://www.news.com.au/adelaidenow/stor ... 82,00.html

250 new jobs in Harbour Town expansion


RUSSELL EMMERSON, REAL ESTATE EDITOR
March 27, 2008 01:25am
THE HARBOUR Town complex will add another 30 shops, creating 250 more jobs, in an expansion to be announced today.

West Torrens Council, however, is concerned about its impact.
Construction began at the West Beach complex last month and is expected to be completed by December, Harbour Town marketing manager Angela Gore said.

"It has been two years since the opening of stage two and the owners have been talking about (the expansion) for a while," she said. "They just felt it was a good fit now with Adelaide Airport numbers booming."

The 7900sq m expansion to the north of the site will include a 3900 sq m Woolworths supermarket and 4000sq m of additional retail space.

"It will be brand names we feel complement our existing mix. It is very early days, we just wanted to secure the anchor first and we will now go out and find the support around it," Ms Gore said.

The first two stages are believed to have cost about $10 million but owner and developer Lewis Land chief executive John Cleland said "costs were substantially lower when we did the initial centre".

He would not disclose the cost.

West Torrens Mayor John Trainer said the council had ongoing concerns about the centre's impact because it was decided by Adelaide Airport Limited without reference to council planning principles.

"We welcome the economic benefits of this but we are extremely concerned they are being done without consideration of good planning principles," he said.

Another 400 car parks will be provided in the extension. A Woolworths spokesman said the company was "keen to have a signature store in the western suburbs".

[Shuz]

At least theyre providing more carparks with this expansion. The situtation as it is is just horrendous, but at least its popular.

[Omicron]

From Adelaidenow
http://www.news.com.au/adelaidenow/stor ... 82,00.html

250 new jobs in Harbour Town expansion

*Snip! goes the pair of Omi Editing Scissors*

"It will be brand names we feel complement our existing mix. It is very early days, we just wanted to secure the anchor first and we will now go out and find the support around it," Ms Gore said.

More stores full of 2005 fashions, and ugly crockery sets no-one wants?

[pushbutton]

Someone must want it, or the carpark would always be empty!