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16 Mar 2004, 05:05
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#1
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Rookie
Join Date: Mar 2004
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Location:
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sutherland shire |
Posts: 3
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White Elephant Resort, Mount Panorama (merged x1)
Ive been approached by the developer to purchase an apartment. does anyone no anything about the development.
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16 Mar 2004, 05:11
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#2
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Rookie
Join Date: Mar 2004
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Location:
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sutherland shire |
Posts: 3
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does anyone know if this development is going ahead or has it been cancelled.
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16 Mar 2004, 06:31
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#3
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Veteran
Join Date: Jul 2002
Posts: 1,994
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I don't know if it is a goer or not but if the developer is still trying to bed down buyers it must be still a reasonable way off.Usually they wont turn a sod of dirt till at least 80% is sold
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__________________
Succes is a result of judgment,that is inturn a result of experience that has come from instances of bad judgment.
"Montoya made some last minute changes to his suspension but it seemed to effect it's handling"-Classic
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16 Mar 2004, 06:50
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#4
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Racer
Join Date: Dec 2003
Posts: 188
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The Western Advocate claimed some well off person in the paddock has already purchased a apartment, or is this uneducated Rural Press jibba jabba?
Ozfords
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__________________
Glenn Seton - ATCC Champion 1993 & 1997
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16 Mar 2004, 07:05
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#5
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Veteran
Join Date: Jul 2002
Posts: 1,994
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I don't doubt that some people are buying them ,just that they are no doubt a fair way off having the numbers to trigger construction.How you would honestly make a quid out of it is beyond me as I don't imagine that it would have a big occupancy rate and still be vacant for use by the owner at the 2 events held theire each year??Maybe I am missing something??????????Maybe thay have a rental garentee,sure sign that you are paying to much for the asset!!!!
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__________________
Succes is a result of judgment,that is inturn a result of experience that has come from instances of bad judgment.
"Montoya made some last minute changes to his suspension but it seemed to effect it's handling"-Classic
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16 Mar 2004, 07:54
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#6
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Veteran
Join Date: Apr 2003
Posts: 1,084
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My information from a Bathurst resident I was talking to today is that the resort is definitely going ahead, much to the disgust of a lot of the locals.
Being in the property management game myself, I'll be honest, I just can't see how they could be a good investment. 2 weeks a year (and let's be honest, YOU'LL want to use the unit for those 2 weeks anyway) can't carry the rest of the year.
Bathurst has a good tourism industry, but not that good! I really doubt they'll have much of an occupancy rate at other times of the year.
And if you rent them out permanently, then there is no benefits to be had come race weeks.
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__________________
What if there were no hypothetical questions?
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16 Mar 2004, 09:25
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#7
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Veteran
Join Date: Jan 2002
Posts: 891
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The "sell" we got last year (at the race) said at least two-thirds (inc. all the "good" ones were already sold. The "only two weeks" argument was met with the line that there were going to be at least 4 or 5 major events each year - I think a couple of bike events got a mention, and that the whole area was being developed into an all year round "motorsport precinct".
Also something about a driver training setup relocating - maybe from Eastern Creek (can't remember) - and a Kart track too I think he said.
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16 Mar 2004, 14:11
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#8
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Veteran
Join Date: Mar 2003
Posts: 952
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Do the actual residents of Mt Panorama know about these new race weekends, because I doubt any more large scale meetings would be given the go ahead.
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__________________
Why not put another ad here?
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16 Mar 2004, 15:56
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#9
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Veteran
Join Date: Apr 2003
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Sydney, NSW, or a track near you |
Posts: 1,900
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The old drive in (just up the hill from the new resort), outside the first hump on Conrod, has been identified as the new home for the local kart track. Good idea I recon. All the 6 year olds can race on the mount for years while their parents earn enough mopney to buy a drive in the big show there (sorry, did I say that?)
I know of one person (owns a VX V8SC no more hints) who has purchased a corner unit facing up the hill, and he would love the increase in events, Im sure!
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__________________
Racing or sport, Hmmmm, you decide??
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16 Mar 2004, 21:32
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#10
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Racer
Join Date: Mar 2002
Posts: 216
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The rear of the pits (where all the camping grounds were in previous years) were planned to be 100% level ashphalt. That leads to temp driver training centres, and temp kart tracks setup as needed.
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17 Mar 2004, 02:27
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#11
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Rookie
Join Date: Mar 2004
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Location:
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sutherland shire |
Posts: 3
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Im (almost) convinced if they build the resort the returns will be there. As much as there is only two races a year, bathurst doesnt have anything that closely resembles five star accommadation. If I had the option of either staying in a 3 star place in town or on the track for an extra 20/30 dollars.
I would just love to be watching the race from a balcony and having the comforts of home only a step away.
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17 Mar 2004, 08:56
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#12
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Veteran
Join Date: Apr 2003
Posts: 1,084
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Quote:
Originally posted by mayhem
Do the actual residents of Mt Panorama know about these new race weekends, because I doubt any more large scale meetings would be given the go ahead.
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I just asked a couple, but I can't type their exact reply here as the swearbot would have a meltdown!!
But in summary, no way! 
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__________________
What if there were no hypothetical questions?
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17 Mar 2004, 11:09
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#13
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Veteran
Join Date: Mar 2003
Posts: 952
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Just as I thought......
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__________________
Why not put another ad here?
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19 Mar 2004, 07:02
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#14
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Veteran
Join Date: Dec 2003
Posts: 6,494
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From the proposed design that I have seen, I think this "resort" is going to look terribly out of place. Kind of like Surfers Paradise on conrod straight.
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__________________
Wolverines!
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26 Aug 2007, 01:38
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#15
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 Race Official 1% Club
Join Date: Dec 2002
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In the infamous "Powder Room" |
Posts: 32,751
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In today's Sunday Telegraph, it seems the promoter's corporate vehicle Mount Panorama P/L has been placed in administration by builders Kell & Rigby allegedly for funds unpaid on 17th August.
The article suggests that the complex is close to completion, but while the legal gymnastics applies... perhaps it wont be ready for the October main race
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__________________
"Once you get in the right frame of mind, I think anything’s possible. I think we get, we so often get caught in this state of negativity and it’s a, it’s a poison like nothing else" - Pat Solatano Jr, Silver Linings Playbook
Excelsior...
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