CITY HQ FUNDRAZOR
Council chop & sell plan for new $91m base
PROPERTY asset sales will be considered as Geelong council looks at ways to raise about $40 million towards its new high-rise CBD headquarters.
A new council committee has been created to oversee progress on the massive project, which aims to build a $91 million central administrative base on the northern side of Johnstone Park.
Councillors want to reduce the project’s borrowings to $50 million over the first five years by either selling surplus property or other debt-reduction measures.
PROPERTY asset sales will be considered as Geelong council weighs up ways to raise about $40 million towards its new high-rise CBD headquarters.
A new council committee has been created to oversee progress on the massive project, which aims to build a $91 million central administrative base on the northern side of Johnstone Park.
Councillors want to reduce the project’s borrowings to $50 million over the first five years, by either selling surplus property or other debt reduction measures.
City Hall intends to offload the Geelong saleyards com- plex and is weighing up the future of the former Geelong post office on Ryrie St.
Reviews are also under way or planned for the city’s publicly-owned golf courses and the Breamlea Holiday Park.
In a pitch that gained majority support from his colleagues, Cr Anthony Aitken said property sales should not be the sole measure to raise the necessary $41 million.
“We should not just focus on public assets, because it is very difficult to sell public assets,” he said.
Cr Pat Murnane said he hoped the move to look at revenue streams did not mean the council was shifting in its previous commitment to develop the site without affect- ing rates or council services.
The new committee, to be chaired by mayor Bruce Harwood, will advance the plan to consolidate the council’s nine separate offices in one central building.
The council last month de- cided its administrative base would be located at 137 Mercer St — on the opposite side of Johnstone Park from City Hall.
The car park site was bought by the council in 2007 with an eye to it hosting the centralised headquarters.
The size of the proposed building, associated car parking and ancillary facilities has been scaled back to meet the planned $91 million budget.
It is scoped to include 10,000sq m of office space, 300sq m of ground level retail space and 120 car parks.
The council expects the build to be completed by mid-2022.
The new complex would save about $2.8 million a year in rent, as well as reduced IT, communication, power and other costs.
The council is still to decide which model it will pursue to develop the site.
Among the prospective builders to already present its concept is Geelong-based property development firm Benjamin Cristian.
The Geelong Advertiser has obtained images of the company’s proposed 12-level council headquarters, which includes auditorium, exhibition, function and community spaces.
It would also feature an elevated big screen, which would provide opportunities for people to watch sporting or community events.