Council land sale plan progressing

An estimated $52 million public land will soon hit the market as part of a Greater Geelong City Council plan to boost its revenue.

The city is selling four sites across the municipality that it deemed surplus to requirements.

He is soliciting offers from estate agents to sell the first two of his properties: Civic Center Car Park at 21 Gheringhap Street, Geelong, and a maternal health centre, ten-pin bowling alley and car park at 17 Reynolds Road, Belmont.

The city would sell the properties on the condition that they remain for their current uses for several years: Gheringhap Street must keep its commercial parking lot and its 503 parking lots for at least 10 years, while the maternal health center has a guaranteed lease of 20 year.

The city will also sell the Busport car park at Brougham Street and the shopping area at Princes Highway, Corio this financial year.

Council finance portfolio chairman Anthony Aitken said money from the assets would provide financial security for the city.

“We have strategically reviewed our assets and identified some properties that do not need to be under community ownership,” Cr Aitken said.

“The sales program will reduce the need to borrow even more money in the years to come.”

Earlier this year, the city said the funds raised would go primarily to a pipeline of infrastructure renewal projects, which it said had been underfunded in recent years.

Council reports also estimated that the properties had a combined value of around $52 million.

The city’s 2022-2023 budget forecasts a year of balance for the municipality, after two consecutive deficits during the pandemic.