Council agrees to talks with Mirvac over land deal
In A move St Marys small business owners were dreading, Penrith Council has voted to enter negotiations with Mirvac over the sale of council-owned land in the town centre. The decision paves the way for Mirvac, owner of St Marys Shopping Village, to extend the centre towards Queen St. No plans have been made public as yet. ››
PENRITH Council last week voted to enter “direct negotiations” with Mirvac about the sale of council-owned land in St Marys town centre.
Mirvac, the owners of St Marys Shopping Village, approached the council with a proposal to extend the centre over nearby community parkland. The parkland was reclassified in April to allow development.
Although plans have not been made public, a council statement said the Mirvac proposal was “generally consistent” with strategies adopted for the town centre because they extended towards Queen St.
The carried recommendations at the council meeting stated final commercial terms would be reported by February 28, 2016.
Mirvac has been in contact with the council since 2012 to seek “feedback on various concepts” and made an approach to buy the parkland in May. On April 18, the council voted to reclassify the lots Mirvac had asked to buy – including Lang and Kokoda parks – from community to operational land, meaning Mirvac could make use of them.
That outcome struck fear into local businesses after an economic report suggested small firms in Queen St would lose up to 21 per cent of their turnover if the shopping centre grew. They could take up to 14 years to recover, the report revealed.
Mirvac was approached for comment.