Carpark site value grows

Sunshine Coast Daily - - NEWS -

SUN­SHINE Coast Coun­cil CEO Michael Whit­taker says new val­u­a­tions show the Bris­bane Road carpark site has grown in value as a re­sult of a ma­jor devel­op­ment ap­proval.

The coun­cil re­leased fig­ures on Thurs­day, four months af­ter Mayor Mark Jamieson had com­mit­ted to do­ing so while an­nounc­ing the Aba­cus Group re­de­vel­op­ment deal had failed.

They showed the site had a value of $16.25 mil­lion.

Mr Whit­taker said that was based on the devel­op­ment ap­proval granted to Aba­cus Group in Fe­bru­ary.

It in­cluded re­tail, res­i­den­tial, ho­tel and re­tire­ment as­pects as well as the en­cum­brance of the 704 coun­cilowned, pub­licly ac­ces­si­ble carpark­ing spa­ces.

He said the site had been val­ued at $12.264 mil­lion in the coun­cil’s as­set reg­is­ter in 2016/17.

“Coun­cil owns a site that now has a devel­op­ment ap­proval in place for a mul­tiuse devel­op­ment, pro­vid­ing greater value to coun­cil and our ratepay­ers and more cer­tainty for a po­ten­tial fu­ture in­vestor,” Mr Whit­taker said.

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