What can be built on this land?
When did Council decide to sell this land?
Why is the Town selling this land?
The proposed land sale is part of the Land Asset Optimisation Strategy.
What is the Land Asset Optimisation Strategy?
The Land Asset Optimisation Strategy (LAOS) is a priority for the Town of Victoria Park and is a project to explore the ways to best manage the land the Town owns, to generate as much income as possible.
The strategy looks at options for revenue diversification through sale of land, redevelopment and regeneration of land assets.
Why is LAOS important?
LAOS will deliver additional sources of revenue for the Town. In the long term, these other streams of revenue will reduce the Town’s reliance on rates.
Did the Town consider other options before deciding to sell e.g develop and lease for future profits?
Yes, a full Business Case was prepared and discussed with Council. The Business Case investigated a variety of uses for the land and selling was the ultimate recommendation from the Business Case.
Can community see the Business Case?
No, the Business Case is commercial in confidence due to the investigations that were undertaken, and the inclusion of other party’s private commercial information. To make the Business Case public could risk financial outcomes.
Will the community be consulted about the sale of the land?
Yes. It is a legislative requirement for any private treaty sale of land owned by the Town to undertake a public notice submission period. All feedback received will be presented to Council, who will make the ultimate decision to accept or decline the offer and finalise the sale.