Work on the $15m Gowings Bros Limited’s development application for the so-called ‘hole in the ground’ is continuing.
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Port Macquarie-Hastings Council says it is working through the process in relation to the multi-storey commercial and retail complex.
The site is on the corner of William and Murray streets, close to the Port Macquarie CBD.
Gowings Bros Ltd lodged the Development Application for the site in September.
According to plans lodged with the DA, the site is 2400 square metres with almost 68 metres fronting William Street and over 35 metres on Murray Street.
The plans include multi levels of car parking spaces. It is linked to the existing Port Central car park, which is also owned by Gowings.
Part of the DA includes some demolition works.
The plans show a basement level 2 covering 1871 square metres with 52 car spaces while level 1 is over 1841 square metres with 51 car spaces.
At ground level, there are 27 car spaces covering almost 100 square metres. This level includes two separate retail spaces - one at 115 square metres while the second area covers 830 square metres.
Level 1 would see commercial space covering 1037 square metres and 30 car spaces, while level 2 features 30 car spaces.
Level 3 includes a 663 square metre space for service area along with 39 car spaces covering some 1571 square metres.
The roof top features solar panels.
In total there are 229 car parking spaces.
Once the DA is finalised, a final decision on the multi-million dollar project will be made by the Northern Joint Regional Planning Panel.
There is no timeline to when the finalised DA will be completed.
According to its website, Gowings is an investment company whose investment horizon is inter-generational.
The company completed its 150th year of operations in 2018 and boasts it has had just four managing directors since its establishment in 1868.
An important investment philosophy is to generate sustainable and reliable dividends that can provide income for shareholders.
Investments are made across different asset classes to take advantage of changing economic cycles, it says.
Gowings Bros Limited purchased Port Central Shopping Centre in 2009, for $57.3 million.
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