[COM] Adelaide Oval Redevelopment

[silverscreen]

Now you're talking Flavze

[stumpjumper]

you don't earn $10k a day from 1000 carparks 365 days a year.

Capitalist, it's a thumbnail estimate of gross income based on one rotation of 100% of 1000 carparks at $10 per park per day (a gross annual yield of about 9%). In practice, many all-day parkers would be on contracts of less than $10 per day and club ticket holders might pay less than others for parking during fixtures, but on the other hand I have made no allowance for income from nighttime parkers, or higher rates charged for casual parking on weekends. So an average of $10 per day seemed about right. I'm happy to be corrected.

[stumpjumper]

Despite popular belief the SACA is not in that dire straits it NEEDS this development.

I happily admit that I don't know for sure, but time will tell.

[Waewick]

you don't earn $10k a day from 1000 carparks 365 days a year.

Capitalist, it's a thumbnail estimate of gross income based on one rotation of 100% of 1000 carparks at $10 per park per day (a gross annual yield of about 9%). In practice, many all-day parkers would be on contracts of less than $10 per day and club ticket holders might pay less than others for parking during fixtures, but on the other hand I have made no allowance for income from nighttime parkers, or higher rates charged for casual parking on weekends. So an average of $10 per day seemed about right. I'm happy to be corrected.

Fair call, but I can almost guarantee you that on general weekends it will be virtually empty outside footy games.

It will be interesting to see the breakdown they estimate for casual and monthly parkers.

When I'm back at work i'll look at the in's and out's of carpark revenue.

[stumpjumper]

Today, Paul Demetriou announced that the AFL was prepared to 'kick in' some money to get the AO project up. I suspect that he means the AFL will help fund the carpark provided the business case for the carpark is favourable, and provided the AFL gets a satisfactory return on its investment.

If this is the case, you have to wonder what Conlon offered Demetriou at their recent meeting in Melbourne.

What we really have here are two separate projects.

- A further redevelopment of the AO on King William Road.

- A commercial carpark on Montefiore Drive (is that the name for that road?)

[Ho Really]

...- A commercial carpark on Montefiore Drive (is that the name for that road?)

Memorial Drive is the road on the banks of the Torrens. Montefiore Hill is where Colonel Light is, so I guess somewhere in between.

Cheers

[crawf]

yay!

Conlon says Oval deal 'only days away'
http://www.adelaidenow.com.au/conlon-sa ... 6012062528

A DEAL to bring AFL football to Adelaide Oval may only be days away after a major breakthrough in negotiations, the State Government says.

Infrastructure Minister Pat Conlon today said control-sharing between cricket and football was no longer a sticking point with a formal deal imminent.

"As of this morning, there are no significant areas of disagreement between SACA and SANFL on sharing Adelaide Oval," Mr Conlon said.

"I have met with John Olsen AO, Ian McLachlan AO, Leigh Whicker and John Harnden and all parties are excited about the next steps.

"I will ask state cabinet to consider a proposal on Monday. I will not be talking about any details before Cabinet has considered the proposal.

"SACA and SANFL will also be taking final legal advice on key points - this resolution is a matter of days away, not weeks."

Adelaide City councillors are still refusing to hand over ultimate control of the redeveloped Oval despite pledging strong support for bringing AFL football to the proposed city stadium.

Lord Mayor Stephen Yarwood this week revealed the council's official position on the Oval was determined in a closed-door meeting on Tuesday.

One condition includes developing a management model for the Oval which includes the council leasing the site to the new stadium management authority at a commercial rate. Parking sites and revenues remained a sticking point.

"Council is not a private body so parklands are probably safest in our hands," Mr Yarwood said.

"We are here for the city of Adelaide and South Australians. It's important we get this right to ensure this is a sustainable option in the long term."

[Brando]

Today, Paul Demetriou announced that the AFL was prepared to 'kick in' some money to get the AO project up. I suspect that he means the AFL will help fund the carpark provided the business case for the carpark is favourable, and provided the AFL gets a satisfactory return on its investment.

If this is the case, you have to wonder what Conlon offered Demetriou at their recent meeting in Melbourne.

What we really have here are two separate projects.

- A further redevelopment of the AO on King William Road.

- A commercial carpark on Montefiore Drive (is that the name for that road?)

Again, not sure where you're getting Paul from, but it's Andrew...

[stumpjumper]

Sorry - I work with a guy called Paul Demetriou. He's a draftsman. Of course I mean the other Demetriou, Andrew. He's the dental technologist and part-time AFL head.

So it looks as though the AO and carpark deals are going ahead.

It's ironic. My neighbour is a coaches kids in a junior football league. They've been trying to get some funds from the SA government for equipment but have been told that there is none to be had.

[dsriggs]

It's ironic. My neighbour is a coaches kids in a junior football league. They've been trying to get some funds from the SA government for equipment but have been told that there is none to be had.

That's what sponsorship is for, not tax money.

[Brando]

Sorry - I work with a guy called Paul Demetriou. He's a draftsman. Of course I mean the other Demetriou, Andrew. He's the dental technologist and part-time AFL head.

No need mate, knew there had to be a reason for the confusion, plus you nearly had me calling him Paul too!

[stumpjumper]

That's what sponsorship is for, not tax money.

Maybe the government could sponsor them, like it's sponsoring the AFL and SACA.

[Matt]

Footy, cricket reach agreement on Oval


FOOTBALL and cricket have reached agreement on the Adelaide Oval redevelopment.

As part of the deal, the AFL has agreed to commit money to the project.

The agreement ends months of deadlock for the $535 million stadium, which has been stalled by a dispute over power-sharing arrangements between football and cricket.

A final proposal, signed off by SANFL and SA Cricket Association late yesterday morning, will go to Cabinet for government approval on Monday.

Once signed off by Cabinet, approval from the SACA board and its members will be the final hurdle to bringing football into the city.

SACA president Ian McLachlan said that cricket's requirements had been agreed to by the Minister.

"There are no show-stoppers as far as I can see," he said.

"Any requirements that the SACA had have now been met in the proposals put by the Minister."

Mr McLachlan said if approved by the SACA board, a Members' vote would proceed "as soon as practicable".

Infrastructure Minister Patrick Conlon met with SANFL Commission chairman John Olsen, Stadium Management Authority chief executive Leigh Whicker, and SACA heads Ian McLachlan and John Harnden to sign off on the deal, but would not reveal details of the proposal.

It followed from a meeting with AFL chief executive Andrew Demetriou on Tuesday.

"This resolution is a matter of days away," Mr Conlon announced yesterday. "As of this morning, there are no significant areas of disagreement between SACA and SANFL on sharing Adelaide Oval."

AFL spokesman Patrick Keane said it was pleased with the agreement and said that the organisation would make a financial contribution to the capital cost of the development.

"We have always contributed financially to the grounds that we play at (and) when there has been a stadium rebuilt or redeveloped we have contributed to that," he said.

"We think this is a fantastic result for South Australia and football," he said.

The stadium and associated infrastructure is estimated to cost about $50 million more than the $535 million already allocated, with the Government hopeful private investment will cover the gap.

[Waewick]

hopefully without sounding like i'm going OTT

could this be a catalyst for the mini revival of Adeliade? This with the riverfront re-development/Casino upgrade send signals that Adelaide is finally open for business?

or is it just a something that should have happened years ago and reflects the ultra-conservative nature of this state? (or is there another option?)

[silverscreen]

Capitalist - Would you please define "open for business" - with particular reference to the Casino development?