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Bus depot future home for Kurilpa concrete plant

28 August, 2014

Brisbane City Council has sold their Bowen Hills bus depot to one of the major landholders at Kurilpa who are seeking to move their concrete batching plant out of the South Brisbane area.

Finance and Economic Development Chairman Julian Simmonds said the sale to Hanson Construction Materials, subject to State Government approval, was a very good outcome for ratepayers and the sale price was in excess of an independent market valuation.

“Council and the State Government are looking to assist the relocation of industry from the area so we can transform more than 25 hectares of riverfront over the next 20 years to create a world class riverfront urban community,” he said.

“A similar proposal known as South Bank 2 was unveiled by the former Labor State Government who also recognised the benefit of industry moving out of this area which is just across the river from the CBD.

“Last week Lord Mayor Graham Quirk released a draft master plan for Kurilpa which is Council’s next step in building a vibrant riverside culture in Brisbane that will see a doubling of the amount of public space and a large one hectare riverfront park but this can only happen when industry moves out of the area.”

Cr Simmonds said Council announced last year it had plans for the sale of the Bowen Hills and Richlands bus depots which were no longer required because other facilities had opened at Sherwood and Eagle Farm.

He said Council entered into a sole source agreement because of the public benefit in Hanson relocating out of South Brisbane and its offer was in excess of market value.

“Hanson Construction Materials expressed an interest in acquiring the Bowen Hills bus depot site for its relocated facility and subsequently made an offer that is a very good deal for ratepayers and in excess of the site’s market value,” he said.

“Hanson need to stay in the inner city to ensure prompt delivery of concrete from its batching plants to projects, but they need to move out of South Brisbane as it transitions to a residential community.

“Council obtained an independent market valuation for the site with a range of $6.5 million to $7 million and the offer from Hanson of $7.32 million clearly exceeded that valuation.”

The former Bowen Hills depot at Abbotsford Road has a total site area of 17,776 sq m. Council and Hanson have signed a contract for the sale of the Bowen Hills Bus Depot for $7.32 million, of which 8.5% go to the State Government because they owned a small part of the site.

Hanson have had their DA approved by Economic Development Queensland. The site is located within the Bowen Hills UDA, which is governed by the State Government.

The application DEV2014/564 can be viewed http://www.edq.qld.gov.au/infrastructure-and-planning/priority-development-area-development-approvals.html [Ends] AUGUST 28, 2014

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