24°C | Wednesday December 4, 2024 
22 November 2024
The redevelopment of the North Sydney Olympic Pool is now projected to cost $122.2m, up from the previous estimate of $91.5m, following a series of more delays. The completion date is currently set at May 2025, nearly a year beyond the revised forecast issued by mayor Zoe Baker when her administration took over the project in the last council term.
North Sydney Council is set to consider a recommendation for an additional $17.2m in funding to cover escalating costs, which include structural steelwork delays, unresolved variations, and new fit-out requirements for commercial spaces. The revised budget will be presented as part of the September Quarterly Budget Review.
The council attributed much of the delay to disputes over the structural steel roof of the 25-metre indoor pool, which has been the subject of a formal Notice of Dispute between the council and contractor ICON. While the contracted date for practical completion remains July 2024, ICON has reported a revised completion timeline of May 2025.
The project has also seen an extraordinary volume of administrative claims, including 1,600 Requests for Information, 149 Extension of Time submissions, and 379 variation claims. A further 99 variation claims are expected but have not yet been submitted.
The council has proposed additional scope for the project, including the fit-out of a café and gelato bar on Levels 2 and 3, which were not part of the original budget. An estimated $250,000 is required for these works to attract commercial operators to lease the spaces.
Quantity surveyors have advised that completing the fit-outs and securing Development Consent would improve the leasing prospects and long-term revenue generation for the facility.
Despite the setbacks, some progress has been made. The structural steel roof for the 25-metre indoor pool has been reinstalled, and roof sheeting is underway. Fit-out work on Levels 1 and 2 has commenced, alongside tiling in the amenities and finishing works on the main pool concourse. Pool floodlighting has also been installed.
The council noted that part of the cost increases might be recoverable through legal proceedings. However, it acknowledged that the process could take significant time and recommended ensuring adequate cash flow to avoid further delays.
The redevelopment, which began in March 2021, aims to preserve the historic significance of the North Sydney Olympic Pool while creating a modern facility for the community and enhancing revenue opportunities. The council will discuss the funding recommendation and overall project status at its meeting on November 25.
As North Sydney Sun reported this week, the Council is seeking a Special Rate Variation with steep increases of between 45% and 84% next financial year. The Council is attributing the need to do this to the pool blowout.