No fire sale for cultural precinct
THE first stage of the $37.9 million cultural precinct is on track but city leaders are desperate to avoid a fire sale of assets to pay for it.
A critical component is the sale of the Mal Burke Car Park in Hinze St, Southport, which is likely to fetch more than $10 million.
Area councillor Dawn Crichlow is standing firm, requiring a commitment from any potential buyer that the 340 public car spaces will not be lost.
The carpark is opposite the Southport Courthouse and its location and flat-rate fee of $5 for a day’s parking ensures it is full on most weekdays.
Once the carpark is sold, any redevelopment will need to include public carpark spaces.
The carpark is among 15 properties councillors have earmarked for sale to secure initial funding for the cultural precinct on the Evandale council chamber site at Bundall.
Most of the larger blocks on the market are in Southport and Councillor Glenn Tozer’s Hinterland division at Mudgeeraba.
“I’m happy about selling the properties on the list. The only problem I have is with Mal Burke Car Park,” Cr Crichlow said.
“Whoever buys it has to replace the parking that is there with public spaces.
“They can charge for it but council will fix the fees.”
The recent council budget allocated $10.1 million in 2015-16 for the total $37.9 mil- lion cost of the first stage of the cultural precinct.
Cr Tozer said he was “fairly confident” the properties being sold to pay for the cultural precinct’s first stage funding were “surplus to our needs”.
“There is no rush to try and sell them,” Cr Tozer said.
“We are going on a case-bycase basis. I feel that the valuations of the land that have been done are reasonable.”
Mayor Tom Tate, after delivering the budget, indicated a priority was to keep his elec- tion promise of a cultural precinct. But he said that “if you don’t do it right, tens of millions of dollars can evaporate”.
“With my background in the property side of things, I can help there,’’ he said.
“I’m not in a hurry on this. I know the market is going to pick up and we’re not going to fire-sale.
“I’m viewing this as people’s funds – we will get the highest possible price.”
CR GLENN TOZER