Image courtesy of Iris Capital
Development Controversy Key Points
- Major Acquisition: Iris Capital, led by CEO Sam Arnaout, purchased St Ives Shopping Village for $450 million.
- Expansion Plans: The proposal includes a mixed-use development featuring new retail, dining, a cinema, and residential apartments.
- The "Pokie" Factor: Plans include a new St Ives Tavern with 204 square metres dedicated to poker machines, sparking community backlash.
- Land Dispute: The project is contingent on Council agreeing to sell public roads, including Denley Lane, Durham Avenue, and Cowan Lane.
- Political Pushback: Nicolette Boele MP has addressed Parliament, citing concerns over financial hardship, mental strain, and domestic violence risks.
- Community Divide: Local sentiment is split between those opposing gambling expansion and those advocating for more modern venue spaces.
- Current Status: The public submission period has closed, and Ku-ring-gai Council is currently deliberating on the road closure proposal.
A major development proposal for St Ives Shopping Village is causing a loud stir in the North Shore community.
The complex has recently purchased by Iris Capital, headed by CEO Sam Arnaout who has been monikered Australia’s “pokie king”, for a total of $450 million. Iris Capital is proposing a mixed-use expansion of the existing mall, with added retail, dining, entertainment, a cinema, and residential apartments.
The thorn in the side of some residents and local politicians lies with the developer’s plan to acquire public roads from council for the property, and to include 204 square metres of a designated area for poker machines in a new St Ives Tavern.
These concept plans for the development of the village are contingent on acquiring public land from council.
Ku-ring-gai Council hosted submissions concerning the proposal for Iris Capital to purchase council-owned roads Denley Lane, Durham Avenue, Cowan Lane.
Residents were instructed to submit to the general manager and enquiries contact by Friday 9 January 2026, an extension provided after advocacy from local politician Nicolette Boele.
With the submission period completed, Council is now considering all submissions before deciding on the road closure proposal.
Member for Bradfield, Nicolette Boele, addressed parliament on 12 February about the proposal. ‘Residents have raised concerns about broader social impacts associated with poker machines gambling related stress. These are not hypothetical issues, they reflect a deeply personal experience for some families that’s increased financial hardship, mental strain and family breakdown, including the heightened risk of domestic violence.’
Local Facebook groups have seen concerned residents voicing their opinions on the subject. These posts garner hundreds of comments, with some questioning why there is a need to expand gambling in St Ives, while others are championing the need for more venue spaces.
Decisions are still pending on council relinquishing the public land and roads.
