Welcome XReality, page-43

as you noted, I believe they tried hard to build one in the CBD of Sydney but struggled to get the land. I'm not sure if Moore Park would be a 1st choice though tbh. Its pretty dead midweek during business hours and doesnt have loads of tourists walking around. I'd go for somewhere like Darling Harbour but that would likely cost a bomb. While I'd love the ability to use one without driving the 50ks to penrith, with the XRG cash flow position I doubt they will be building a new tunnel in a hurry so probably a moot point. It remains a real risk to the stock, if someone builds a tunnel in the Sydney CBD it would cripple Penrith and thats their flagship facility.

I remain positive about the stock but still believe the real $ is in the wind tunnels.