Surplus block taken off slow market
A REDCLIFFE property that used to be a childcare and pre-primary centre and was earmarked for an aged care facility will not be sold until the real estate market improves.
A staff report to last week’s City of Belmont council meeting had recommended that the property at 1 Grand Parade be sold by public tender.
The report said the 6065sq m site was previously home to Belmont Child Care Centre and Belmay Pre-Primary School. Both premises were demolished in early 2011.
“The site is zoned Residential R20, but as it is on a corner, has the capacity to attract a density bonus to R30,” the report said.
“Preliminary interest has been shown in the property by a company seeking to establish an aged care facility in Belmont. Based on that interest, officers would like to test the market by taking the property to tender.”
It said the property was considered surplus to the City’s needs.
“Given the size and zoning of the property, it is likely that tender respondents will seek to develop more than 10-12 standard single residential houses,” the report said.
It said the property had been valued at July 5 but the price was included in a confidential attachment and not revealed at the meeting. The council discussed the issue and decided not to proceed with the sale until the property market improved.