To sell or not? Strategic value of council properties to be discussed
In May Invercargill city councillors requested that land surplus to requirements be presented as options for disposal/release of land as part of the Long-term Plan.
The Invercargill City Council is set to discuss the strategic value of certain council-owned properties with the prospect of potentially putting some up for sale.
In May councillors requested that land surplus to requirements be presented as options for disposal/release of land as part of the Long-term Plan.
Council staff have prepared a report which will be discussed on Tuesday. It outlines six council-owned properties which could be repurposed or put up for sale.
The most significant property identified is the 11 Leven St carpark building area which can be accessed through the Invercargill Public Library.
The size of the area has been estimated at 2319 m2 with a capital value of $6.5m, although that is assessed with the library building.
The carpark is also currently 80% leased. The annual maintenance cost for the council is $50,000.
The other properties that have been put forward for discussion are:
131 Esk Street (Esk No. 2 Car Park).
This 2297m2 piece of land is currently used as a car park and is valued at $790,000. It is regarded as suitable for an inner city housing development.
116 Esk Street/30 Deveron Street (Ex Southland Times storage building and car park).
The building is currently vacant with the other piece of land used as a carpark. Combined they have a capital value of $671,000.
313 Bay Road
The 23.644ha piece of land is valued at $680,000 and is currently leased for grazing.
141 Bond Street
The 2.47ha piece of land in an industrial zoned area has a current RV of $2.2m.
40a Glengarry Crescent
This 562m2 piece of council-owned land is currently vacant but has been identified for a possible housing development. The land has current RV of $41,000.
Why is our mayor wanting to sell everything at the moment?
? Selling everything so it will total the amount planned to be spent on rugby park seats and maintenance. Oh… no.., selling these add up only to HALF the amount council plans to spend on rugby park. Shhhhh!! ( my point being .. $14.5 million and $4.9 million of planned expenditure on this RUGBY STADIUM can be SAVED just like that if it’s recognised it’s neither priority nor in the interests of the general ratepayer when cost-savings are being sought)