In­vest­ment con­sid­ered

Pilbara News - - Opinion - Peter Long Peter Long is the City of Kar­ratha Mayor.

The City is con­sid­er­ing in­vest­ing in LandCorp’s pro­posed Gap Ridge Home­maker Cen­tre.

Lo­cated on the cor­ner of Dampier High­way and Madi­gan Road, the Home­maker Cen­tre would ser­vice an es­ti­mated trade mar­ket of $178 mil­lion and has some 11,500 cars pass­ing by daily.

The Home­maker Cen­tre is de­signed to ac­com­mo­date bulky-goods re­tail­ers and would pro­vide large open-plan spa­ces and plenty of park­ing for the sell­ing of prod­ucts. This ma­jor trans­ac­tion would re­sult in the City pur­chas­ing the ex­ist­ing de­vel­oped land near 7-Mile Creek, con­struct­ing build­ings for about 12 com­mer­cial en­ter­prises, and then leas­ing these te­nan­cies out.

The City is con­sid­er­ing in­volve­ment for sev­eral rea­sons, in­clud­ing the gen­er­a­tion of em­ploy­ment, new shop­ping op­por­tu­ni­ties, gen­er­ous fi­nan­cial re­turns and di­ver­si­fi­ca­tion of its in­vest­ment port­fo­lio. The pro­posed trans­ac­tion would be de­vel­oped over a two-year pe­riod and would cost about $27 mil­lion.

A busi­ness plan is avail­able for pub­lic com­ment at the Wel­come Road of­fices and the var­i­ous town li­braries. Sub­mis­sions may be made un­til March 31.

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