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CYCA redevelopment update.

Work is set to begin on an exciting new stage of redevelopment for the club.

Stage 1 of the much-awaited CYCA redevelopment is scheduled to commence on 6 February 2012.This stage includes the extension of arm D of the Marina which, when complete, will accommodate an additional nine 18 metre yachts, and be able to provide casual berthing on the southern edge of the marina walkway.

As a condition of the development consent, the club is required to provide additional car parking associated with the additional berths.Therefore, in order to comply with the development condition, the club is preparing to undertake the redevelopment of the redundant slipway by filling in the relevant area and increasing the car parking capacity of the northern car park.

By extending and reconfiguring the layout of the entire area, the CYCA's car parking capacity in the northern car park is planned to increase from 36 car spaces to 48 car spaces. When completed total car parking capacity of the club will increase from 52 to 64 car spaces. It's anticipated that Stage 1 of the redevelopment will be completed by early March 2012.

Total cost of stage 1 of the development will be approximately $850,000. Expected revenue to be generated by the extension of arm D of the marina is calculated to be approximately $140,000 per annum, with the investment paid back between 5-6 years. Funding for the project will be undertaken by drawing down existing cash reserves, therefore alleviating the need to establish a debt facility.The CYCA board has every confidence that the project will be delivered on time and on budget.

The staging plan for the first 2 ies of the development can be viewed on the CYCA website.

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Publication:Offshore Yachting
Date:Feb 1, 2012
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