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 Doubt over Stockland plan casts a shadow 

Doubt over Stockland plan casts a shadow

18/07/2008 11:09:00 AM
THE shadow cast over Stockland’s Nowra expansion does not bode well for the local construction industry or the local economy. With the company refusing to commit to a start date on the same day its below-market-value sale of two key Batemans Bay properties has come to light, the future of the Nowra expansion looks uncertain in the short to medium term at least.

Stockland is notoriously tight-lipped about its intentions, which has only fuelled speculation the local project has been put on the backburner for the time being.

And now with the Mayor also unable to confirm a start date, those involved in the construction industry, already hit hard by Beechwood’s collapse, fear a painful local downturn. Even the prospect of picking up work at another Stockland project at Shellharbour appears in doubt, as it is understood that, too, has been shelved.

There will also be disappointment for residents, who have had the prospect of a Big W in Nowra dangled in front of them before, only to see it evaporate.

The bright side to this: it may give the rival Myer added impetus to push forward with its plans to set up shop in the Nowra CBD, a move many feel would rejuvenate the town centre.

Whatever the case, the community would like to see an end to the uncertainty. It has waited long enough on a promise of another local department store.

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20/11/2008 | There is something worse than having one GFC. That's having two.
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