Mittagong Aero Club Posted August 31 Share Posted August 31 A couple of years ago, faced with the possibility of losing our airfield altogether, some of our club members at Mittagong Aero Club pitched in with loans that enabled us to buy the property, preserving it permanently for the benefit of club members and the local community. In order to retire some of its debt, the club is now offering for sale this adjoining land parcel consisting of 26 acres with a building entitlement. It is obviously a very unique property and therefore quite difficult to value so the club is completely open to offers. Please feel free to contact us if you would like to discuss. mittagongaeroclub.com.au or 0418 643082. https://www.realestate.com.au/property-residential+land-nsw-mittagong-203994132 Link to comment Share on other sites More sharing options...
Mittagong Aero Club Posted September 3 Author Share Posted September 3 Link to comment Share on other sites More sharing options...
skippydiesel Posted September 3 Share Posted September 3 Probably make more money/better use as an airfield asset, by having hangers as per Napper Field/Wedderburn Link to comment Share on other sites More sharing options...
Marty_d Posted September 3 Share Posted September 3 Good production. Good luck with the sale! Link to comment Share on other sites More sharing options...
Moneybox Posted September 3 Share Posted September 3 7 hours ago, skippydiesel said: Probably make more money/better use as an airfield asset, by having hangers as per Napper Field/Wedderburn I thought of that until I googled land value around Mittagong 1 Link to comment Share on other sites More sharing options...
skippydiesel Posted September 6 Share Posted September 6 As I say - Take the long view, could probably have any number of hangers (not just one rich dud) on that block, financially & physically participating in the airfield and its activities. The short term financial windfall will be long gone and there will still only be one more aircraft/participant. 1 Link to comment Share on other sites More sharing options...
Thruster88 Posted September 6 Share Posted September 6 They want or need to retire debt, building more hangars will not achieve that. Based on reality a hangar costing $125k will return a gross income of about $12,000 pa. Pay insurance and other cost and you are left with f a to pay the interest on the $125k loan. The days of cheap hangars and rents may be gone. Link to comment Share on other sites More sharing options...
skippydiesel Posted September 7 Share Posted September 7 8 hours ago, Thruster88 said: They want or need to retire debt, building more hangars will not achieve that. Based on reality a hangar costing $125k will return a gross income of about $12,000 pa. Pay insurance and other cost and you are left with f a to pay the interest on the $125k loan. The days of cheap hangars and rents may be gone. The "owner" builds the hanger and leases the land - check out what Wedderburn have done very successfully. Link to comment Share on other sites More sharing options...
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