The block in Lord Street that Council now owns
A VACANT unit block site has been added to council’s property assets.
NSW Land and Housing Corporation accepted the Port Macquarie-Hastings Council’s $1.1 million tender price for the property.
The offer was made after the council received two independent market valuations.
The 28-bedsitter studio unit complex won’t be spruced up for new tenants.
Instead, the building, considered in a very poor condition internally, is being demolished.
Council’s corporate and business services director Craig Swift-McNair said the parcel of land had significant value for future community and commercial uses.
“While specific uses of the site are yet to be finalised it is a strategically located parcel of land that will be important as part of the existing municipal precinct for future community or council purposes,” he said.
It is understood the last tenant left the unit block about 12 months ago but the bulk of the tenants moved out 12 months before that. Council’s property development and leasing coordinator Jeff Walton said the council already owned several parcels of land in the precinct.
The council owns the library, swimming pool, administration offices, car park and a vacant parcel of land next to the Caltex service station.
“This [newly acquired] parcel is between the vacant land and our headquarters,” he said. “It was considered to be a strategic lot in our precinct.”
The demolition project, which started last Monday, is expected to take three weeks.