Just wondering....!

[Dan]

I wonder how the people would've voted originally if they had've known about the Penns cashing in the way they have?

I remember reading where the ?Chinese developers were going to keep the leagues club operating on the ground floor when they built their development. Seemed a bit of a stretch at the time.

What is happening with the future of the leagues club now? Penn was sprouting how great this was for the future of the club back then?

No one was up in arms when it was looking like it was going to be bought out by Mounties and then move to a merge with the diggers, why the outrage now? Because the Penns profited instead of someone else?

The reason they could profit for it is because the leagues club is not running a very strong business, it's in a location that does not suit most people and its facilities are dated.

The land is worth more than the building and business combined.

Sad with all the history that goes with it, but if it were more precious than memories and a principle everyone would have been voting with their business and been there every time they go out pumping cash into it!

If the dee why hotel couldn't survive the leagues club was never a chance. With dee why bowls essentially owning the "big club" thing in that area the only way to compete is a multi-million dollar make over or tear down and rebuild. I'd rather see those dollars go to brookie oval, wouldn't you?

Actually on game days the brookie hotel does much more business than the leagues club

 

[Shoe1]

The "club" as a registered club has some obligation to support the sea eagles and give something to the community.
The "club" as a building or piece of property should be sold (and has been) if it is just a financial liability.

Hopefully there is a better solution on the horizon for a licensed sea eagles club venue, ideally in a refurbished brookie, or in partnership with another club with better facilities.

 

[HappilyManly]

@HappilyManly "community asset" is drawing a very long bow. That's about the biggest stretch of a term I've heard.

An extremely dated and poorly laid out poker machine nest is about as far from an asset as you can get. The land is also not a community asset it's land and entitled to be swept up for private ownership.

Completely disagree.

The land was purchased by the sole contribution of the LC Members along with bequests and operating profits.

The land value on the Northern Beaches is astronomic and any land is an asset.

The existing structure on any parcel of land here is irrelevant to its value. The whole of Pittwater Road from the Mall is being replaced with multi level, multi use buildings.
In fact, if you look around Brookvale Oval with the Google Earth timeline, there is no place on the west side of Pittwater road left to build on

 

[Dan]

Completely disagree.

The land was purchased by the sole contribution of the LC Members along with bequests and operating profits.

The land value on the Northern Beaches is astronomic and any land is an asset.

The existing structure on any parcel of land here is irrelevant to its value. The whole of Pittwater Road from the Mall is being replaced with multi level, multi use buildings.
In fact, if you look around Brookvale Oval with the Google Earth timeline, there is no place on the west side of Pittwater road left to build on

Yes it's an asset to the owner of that land....The Penns.

As Shoe1 said the club is a liability the land was an asset that the Penns bought at market rate and then as with any asset was sold all fair game no matter where your grudges lay

 

[HappilyManly]

No one was up in arms when it was looking like it was going to be bought out by Mounties and then move to a merge with the diggers, why the outrage now? Because the Penns profited instead of someone else?

The reason they could profit for it is because the leagues club is not running a very strong business, it's in a location that does not suit most people and its facilities are dated.

The land is worth more than the building and business combined.

Sad with all the history that goes with it, but if it were more precious than memories and a principle everyone would have been voting with their business and been there every time they go out pumping cash into it!

If the dee why hotel couldn't survive the leagues club was never a chance. With dee why bowls essentially owning the "big club" thing in that area the only way to compete is a multi-million dollar make over or tear down and rebuild. I'd rather see those dollars go to brookie oval, wouldn't you?

Actually on game days the brookie hotel does much more business than the leagues club

Dee Why Hotel was rebuilt with a 7 storey residential section and is one of the top venues for the younger set.

Dee Why RSL rebuilt itself with an up market over 55s residential complex.
It's the most active Club on the Northern Beaches.
It also owns, rather it has sold off the Bowling Club to Developers.

Their is no new angst.
This Thread just asked for the history and potential future if the LC Club land and Brookie.

As members, we only know the history.
The future development of both sites is unknown apart from the two proposed DAs.
And neither site is an LC asset anymore

 

[SeaEagleRock8]

Quote: "An investment is simply a gamble in which you've managed to tilt the odds in your favor."
(Peter Lynch, American businessman and stock investor)

...I hope that doesn't set a bad example to the players!

 

[manlywarringah]

No one was up in arms when it was looking like it was going to be bought out by Mounties and then move to a merge with the diggers, why the outrage now? Because the Penns profited instead of someone else?

The reason they could profit for it is because the leagues club is not running a very strong business, it's in a location that does not suit most people and its facilities are dated.

The land is worth more than the building and business combined.

Sad with all the history that goes with it, but if it were more precious than memories and a principle everyone would have been voting with their business and been there every time they go out pumping cash into it!

If the dee why hotel couldn't survive the leagues club was never a chance. With dee why bowls essentially owning the "big club" thing in that area the only way to compete is a multi-million dollar make over or tear down and rebuild. I'd rather see those dollars go to brookie oval, wouldn't you?

Actually on game days the brookie hotel does much more business than the leagues club

The point I wanted to make is the fact that Manly misses out on any of the profit from the sale of the Leagues Club, so YES, I do want the money to go to Brookie Oval but it's not.

The Penns got very valuable land for a small amount and I don't know why the Leagues Club Board didn't sell to developers rather than one of the board members family!

I agree the Leagues Club couldn't continue. The Penns seem to give an indication it would after they bought it though.

Nothing we can do about it now. We just have to watch the Penns make plenty of dough.

 

[Eagleheart]

Ok, I think I get some of the back story now. Thanks everyone for the input, all views, any information and opinions are all valuable IMO even if some differ. Very interesting stuff indeed........!!