Cronulla Development Central

@Stoffo Are they building a shopping centre there aswell?

 

Here's a good timelapse vid of construction:

 

They have a facility on the oval next to Cronulla high, bordering the Green Hills residential development

 

Yes, the carpark between the stadium and the Fitness First/Service station is getting developed into a shopping centre.

 

I know what you mean about over development. I bought a 2br unit in Caringbah on the kingsway mid-2013.

Middle of last year 2016 it felt like there was a new complex going up every few weeks on the Kingsway alone. The area looked very different to when I bought just 3 years prior. I used to have a nice view overlooking Glenn McGrath oval, that didn't last long with a huge block of units dropped right in front of it.

Add to this many of the other developments stretching from cronulla all the way to menai and I didn't like the outlook for the value of my unit and knew apartment prices were at the top in the shire.

Rode the boom and cashed out in August $225k above what I paid in just 3 years. Extremely happy given the sentiment about sydney units and these recent rate rises too.

I sometimes check recent RE sold data for caringbah units and comparables are consistently less than what I exited for. Maybe a bit of cautiousness is finally setting in on buyers?

 

Nicely done.

Sutherland is going mad... they're trying to flog new builds opposite the cemetery for 800-900k. That whole triangle strip from the station south towards Loftus will soon be covered in big blocks.

Engadine has escaped the worst of it for now, but there are plans to build over the Coles carpark and half of the Old Princes Highway with 115 units + new shops.

Shire will grind to a halt after the brick pit development opens. Better add another half hour to the morning drive to work for everyone south west of Kirrawee.

 

Anyone on here buy into the Woolloware Bay development next to Shark Park?

 

I doubt it, traffic management (along with parking) should have been so much better !
To be honest, it might change with the next stage of tbe development including retail and shopping, but currently it's in the middle of nowhere.....
Better to buy in Cronulla

 

My initial impressions were that:

1) The Woollooware Bay concept looks really nice and the views over the bay and towards the city are pretty special. Facilities seem impressive at least on paper.

2) Until the shopping centre is completed the location is not that convenient. Also it's a long walk to the train station.

3) The beach is more of a short drive and not walking distance either. So in that sense one of the new luxury buildings along Cronulla Beach closer to the shops and train station might be more attractive.

 

I don't know anyone who bought there and there are definitely better options for investment, but I know a couple of people who rented there. High proportion of renters as I understand it which carries its own challenges. The rest of the shopping centre etc is delayed until about 2023 now.

- Andrew

 

Getting lots of spam about the new stage of this development.

 

Brick Pit open for almost 2 years now.
We shop there once every 2-3 weeks, struggle to get a park outside/ground level, but get an underground park in tbe 1st row either side of the travelator 95% of the time

Know two couples renting there, they each enjoy the convenience.
Doubt they would see much capital growth though had they bought there

The number of apartment complexes being built amazes me, got to wonder where all the people to occupy come from
Demo 4 houses & build 70 apartments, no wonder there's so many for sale

Yes, traffic can be a PITA, but the roadworks at Princess highway/Kirrawee are nearly finished, so thats one disaster that is finally being eased (10years late )

Which development ???
Lot's of stuff recently finished with the lot's not sold prior now coming to market

 

@Stoffo and those ones in Engadine are built now but many are still unsold. Lots of stock still available.

Seen what is happening at Miranda just to the west of the shopping centre? Madness. And on the other side around the schools, they’re gonna have a nice view of the F6 motorway when it eventually gets built over Miranda Park.

 

Woolooware Bay - the development around Shark Park.

 

You don't think they will go under/tunnel most of the park ?

 

Its a main intersection. At the very least you'd expect there to be on/off ramps down to the tunnel.

Think King Georges Road and the M5. It's a horrible landscape that entire area. Asphalt as far as the eye can see.