Former Westpac store to be transformed into Cronulla Sharks shop in $7.1m deal
The Cronulla Sharks have forked out big bucks to purchase a retail and commercial site in the heart of the Shire. Picture: Getty
The Cronulla Sharks have forked out $7.1m to purchase a retail and commercial site in the heart of the Shire suburb.
Formerly the site of the old Westpac building, the commercial property at 94 Cronulla St had been held by the vendor Samglade Pty Ltd for the past 26 years.
The NRL team plans to transform it into a new office space with retail plans to offer merchandise for fans.
The commercial site sold for $7.1m
Located in Cronulla Plaza, the sale of the building was negotiated via Colliers’ Trent Gallagher and Edward McFarland.
Mr Gallagher said the team is currently redeveloping their Leagues Club as part of a $30m transformation of the Woolooware Bay Town Centre.
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The site was formerly used by the Westpac bank.
“For the community in Cronulla, having the Sharks in the main retail strip will increase foot traffic and help support local business.
“It will also create opportunities for the community to engage with the Sharks and their activities, which could have a positive impact on the local economy and social fabric.”
Cronulla Sharks Group CEO Dino Mezzatesta said he was confident that the sale of the building would prove to be a valuable club asset.
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An aerial view of the site’s location near the beach.
“The building is in a prominent position and gives us a presence in one of the main retail, entertainment and restaurant precincts in the Sutherland Shire,” Mr Mezzatesta said.
“It is also a substantial addition to our asset base, can accommodate Sharks staff and will increase our income and revenue through a new merchandise outlet.”
Founded in 1963, the Cronulla Sharks have only one premiership under their belt – defeating the Melbourne Storm 14-12 in 2016.
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