Sharks purchase former Westpac building at southern end of Cronulla mall

Located at 94 Cronulla Street, at the southern end of the mall, the 562 square metre retail/commercial freehold building will be converted into a new Sharks merchandise store and central office.

The Westpac branch, which occupied the site for 30 years, closed in mid-2022.

Sharks group CEO Dino Mezzatesta, who with members of the Sharks Board of Directors oversaw and negotiated the purchase through Colliers, was confident the building would prove to be a valuable club asset.

"The building is in a prominent position and gives us a presence in one of the main retail, entertainment and restaurant precincts in Sutherland Shire," 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.

"The first time the business has ventured down this path, this purchase was assessed in line with a thorough due diligence process and will be a wonderful opportunity for us to further guarantee the Sharks long-term financial future."

Colliers agent Trent Gallagher, who along with colleague Edward McFarland brokered the sale for vendor Samglade Pty Ltd, who held the property for 26 years, said the transaction was a "win win" for the Sharks and the local community.

"For the community in Cronulla, having the Sharks in a main retail strip will increase foot traffic and help support local businesses," Mr Gallagher said.

"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," he added.

"For the Sharks, acquiring a prime location in the heart of Cronulla Mall will provide them with greater visibility and accessibility to fans and supporters. It will also allow them to have a central office and merchandise store, which will make it easier for them to manage their operations and connect with their audience," Mr McFarland said.

The purchase follows the acquisition of the premises and licensed club operations at Kareela Golf Club while the leagues club was being redeveloped as part of the Woolooware Bay Town Centre.