Following my blog regarding Gage's plans to refurbish the A-Shed on Victoria Quay Fremantle yesterday I decided to dig a little deeper into the project.
The shed has an area of 2255 m2 on a site of 3000 m2 and is expected the development cost could be up to $10 million with a capacity of 2,500 patrons.
Compare this to the Atomic Project in Redfern that cost $3 million with an area of 578 m2 and capacity of 200 patrons, we see the economy of scale here.
As a comparison The Camfield Pub next to Optus Stadium which claims to be the largest hotel in Australia and also has capacity of 2500 patrons (not including a garden area which can accomodate another 1500 people on match day)
They also have a brew house producing 150 kegs per week towards their weekly sales of 300 kegs.
This comparrison will give a better idea of the size of Gage's project.
Further reading here led to interesting information on the governments revitalisation and development plans for the wharf and surrounding precinct including access to the area and provision for cruise ships visiting Fremantle, all to make the area rival Darling Harbour and attract visitors to the area.
I am definatly of the opinion that this project will be a game changer for Gage and that we will need to informed as how things will be financed hopefully without another share issue.
Again, Cheers!!
GRB Price at posting:
5.4¢ Sentiment: Buy Disclosure: Held
