Kwinana council sets sights on $1.25 million sale

29/Mar/2013

Comments:

THE City of Kwinana could earn between $625,000 and $1.25 million from a deal being negotiated to sell the old swimming pool site in the Kwinana town centre.

The City has previously had a development proposal for Lot 904 Chisham Avenue from DEVX but that development did not proceed.

A valuation of the land indicates the property is worth $640,000.

The developer, Pathfinder Property Pty Ltd, has submitted three development proposals with the purchase price for the land ranging between $625,000 and $750,000 dependent on which building the council chooses.

However, the City could find its money is doubled if it signs an agreement that offers the local government up to $500,000 more, depending on how many rental tenancies are secured in the first year of practical completion.

The council was to vote on the officer’s recommendation on Wednesday night.

Officers have recommended the council advertises Option 3, a three-storey office building with 2256sq m of floor space.


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