Another step for the new Cultural and Civic Space project in Coffs Harbour with the sale process underway of four current Council properties.
By TripleM – Coffs Coast
The plan is to sell four buildings owned by council to help fund the new Cultural and Civic Space.
Interested parties have been asked to put forward Expressions of Interest (EOI) for the Administration Building in Castle Street, along with Rigby House, Coffs Harbour Regional Museum and property in Rose Avenue.
According to Coffs Harbour City Council the buildings can be sold separately or as a single package, they say “For Sale signs will be installed and an advertising campaign will begin shortly”.
Commercial Real Estate agents Burgess Rawson are handling the marketing campaign and Expressions of Interest for Council. They were appointed after an open tender process to select a real estate agency.
In a statement on Friday morning, Council say “plan to rent the Administration Building, Rigby House and Coffs Harbour Regional Museum for at least three years while the new Cultural and Civic Space is being built”.
The sale is expected to raise approximately $20m, which is to be put towards the $76.52m cost of the new Cultural and Civic Space, which is to be constructed in Gordon Street.
The funds to pay for the new building are coming from the sale of the four buildings, plus $10.5m from internal savings, as well as potential grant funding for the Museum, Gallery or Library portions of the new building.
The balance will come from loans.
Budget planning to date shows that no special rate variations are needed to fund the building based on current cost estimates and Council decisions. Coffs Harbour Mayor Denise Knight has also stated on various occasions on Triple M that “there will not be a rate rise”.
The closing date for Expressions of Interest is 9 April 2020.
First published at TripleM Coffs Coast. Go to the following link to see it and also here a report on this too. See; https://www.triplem.com.au/story/coffs-harbour-sale-process-underway-for-council-buildings-157927