News

Lockyer Valley Regional Council to Sell Surplus Property Assets

Lockyer Valley Regional Council to Sell Surplus Property Assets

Lockyer Valley Regional Council has moved forward with its decision to sell surplus property assets.

Following a tender process, Council appointed the Ray White Group as the agent to sell the properties which will go to market with eight council owned properties in phase one of its Asset Realisation Program.

Locker Valley Mayor, Cr Tanya Milligan, said the decision to offload these properties was very easy.

“Let me make this point very clear, this is not a fire sale, the project is about getting our house in order,” she said.

“Council owns a number of parcels of land throughout the Lockyer Valley that are simply sitting idle and doing nothing for us except costing money through associated maintenance costs.  We can either hang on to them and continue to throw money at them with no return, or sell them to investors and encourage further housing growth and development in the region while at the same time boosting council’s bottom line.  To us, the choice was easy.”

The properties located at Helidon, Grantham, Glenore Grove, Kensington Grove and Gatton are being offered for sale through Clint Christison at Ray White Rural Gatton and Ray White Special Projects (Qld) Directors Mark Creevey and Tony Williams.

Mr Christison said the property portfolio was identified as being suitable for divestment in an assessment conducted for the Lockyer Valley Regional Council by planning and property consultants, Urbis.

“The properties will be marketed individually for sale as a component of a portfolio sale of surplus assets by Lockyer Valley Regional Council and boasting a variety of locations and product mix, I would anticipate a strong interest from the market,” he said.

A large parcel of land on Woodlands Road will go to tender with a further seven properties offered for sale at an auction at the Lockyer Valley Cultural Centre from 6pm (AEST) on Thursday, 16 June, 2016.

They include:

  • Lot 1, Seventeen Mile Road, Helidon, a 4,249 sqm vacant residential lot.
  • 8 Tryhorn Street, Grantham, a 1,582 sqm vacant elevated residential lot.
  • 2 Singh St, Grantham, a residential dwelling on a 1,018 sqm lot.
  • 67 Forest Hill-Fernvale Rd, Glenore Grove, a 4,452 sqm lot.
  • 69 Forest Hill-Fernvale Rd, Glenore Grove, a 4,970 sqm lot.
  • 26 Bertrand Avenue, Kensington Grove, a 1.024ha vacant rural residential lot.
  • Lot 997 Wilkinson Place, Grantham, a 22.71ha vacant rural residential lot.

Council is also offering for sale via tender, approximately 19.46ha of vacant residential land (pictured) at 168 Woodlands Road, Gatton, with potential for residential development. Tenders close Wednesday 15 June 2016

“Once this phase has been completed, Council is expected to look at further surplus properties that may be suitable for sale within the next 12 months or so,” Cr Milligan concluded.

Up to Date

Latest News

  • Ray White Commercial Queensland promotes young gun

    AFTER just four years at Ray White Commercial Queensland director Matthew Fritzsche has been promoted to partner at the leading 30 year old business. Mr Fritzsche, aged 33, began his career as a town planner on the Gold Coast before making the transition to property valuation and … Read more

    Read Full Post

  • South East Queensland Land Market Remains Strong

    New data from Ray White’s SEQ Vacant Land Market Report confirms Brisbane’s residential house and land market performed strongly over 2017 with land prices up more than 11 per cent, which is good news for all developers. The South East Queensland Vacant Land Market Report, which reports on the 10 major Local Government … Read more

    Read Full Post