Xpect Property Development - Complex/Unique Projects, Scale Development, & Continuous Improvement. Call me to diagnose.
What is a golf course with zero alternative use allowed worth? Green fees + membership dues + restaurant lease less admin less golf course maintenance etc at what cap rate?
Bit of a bugger really. The locals (which surround me) have been fighting off development, and yet no one would build a new golf course on there in at least 998 years, so as it stands, its a glorified squatters camp with a lovely view of a pond. Doesn't help us much, other than create for a somewhat depressing final stage of my commute. I am not necessarily a fan of building it out, given there is limited infrastructure in that area and it would create a traffic nightmare, but also not keen on seeing it just become the worlds biggest wild flower garden.
1000 years lol. Most of us can’t be sure what we’ll want the day after tomorrow.
Don't forget a wedding and event venue! 😁
Actually - I have it...we could throw up a theme park, to offset Rainbows End on the other side of the city. The council could sponsor it, and we could call it Wayne's World...most excellent.
Experienced Property Financier
3moLike many public spaces, art work and public viewing areas "gifted" by Property Developers the benefit or value has already been received by the higher density developments they have completed and the super profits generated from that. Their short memories about this fact means they go back to the original building which now has limited height, or the public space and seek to take back the gift and open up the debate about the value. The value of these amenities into the future can only be for the public to receive as a public good.