Carpark site value grows
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.