EXPRESSIONS of interest will be sought to sell a parcel of CBD land once earmarked for a multi-storey car park.
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The decision comes almost eight years after Port Macquarie-Hastings Council bought the so-called “hole in the ground” for $3.866 million excluding GST. The council in late 2005 considered the site on the corner of Murray and William streets as suitable for car parking and other limited use.
But the land remains vacant.
The new expression of interest process will test the market and does not bind the council to a sale.
The decision came after Cr Adam Roberts asked for information about the site’s history and potential future options.
Councillors also agreed at Wednesday night’s council meeting to remove the special condition requiring a buyer to provide 180 on-site public car parking spaces when the site was developed.
Cr Adam Roberts said the latest move, in particular, was about removing the special conditions for the car spaces.
“The expression of interest is more advertising the fact that the car spaces special condition has been removed,” he said. “At the same time, I personally believe there is a little bit of [market] confidence at the moment and flagging this site is potentially for sale is is a good position to be in.”
He recognised there could be a gap between the 2005 purchase price and what the council might get for the land right now.
“If there is an offer of some value to us, we will look at it,” Cr Roberts said.
The decision will come back to a council meeting.
Back in late 2005, the land had been on the market for almost two years after businessman Murray Phillips shelved his plans to build a cinema there.
The council considered the site as an excellent location near key retail areas.
Two sale attempts in 2006 failed to yield any interest, and several purchase inquiries in recent years have not progressed due to the 180-site parking condition on top of parking requirements for any new development.
Architects prepared two fresh concept plans for the land late last year.
The 2400 square metre site includes substantial excavation and retention work as part of the initial construction of a cinema complex.
Cr Geoff Hawkins said anywhere the council had what he called “lazy capital” around the local government area, he was in favour of putting it to better use.
Cr Lisa Intemann agreed but said she was not inclined to sell this property unless the council got a reasonable offer.
Meanwhile, Cr Rob Turner said it was probably the right time to send a message to the community that the piece of land was now a different kettle of fish without the 180-space public car parking requirement and it would get people thinking about opportunities in that area of town.
