Derwent Entertainment Centre could lure international buyers

A sale of Glenorchy’s answer to Macquarie Point is likely to attract national and international interest, the Property Council says.

Glenorchy City Council is considering selling the Derwent Entertainment Centre and surrounding waterfront land at Wilkinsons Point as part of a package deal to attract a game-changing development to the city.

Experts advised council to consider going to the open market with the DEC and Wilkinsons Point in one go.

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Property Council Tasmania executive director Brian Wightman says he is confident the prime 16ha riverfront site will attract interest nationally and internationally.

“The site presents exciting opportunities for potential investors,” Wightman says.

At Monday’s Glenorchy City Council meeting aldermen unanimously voted to start the process to sell the prime riverside land.

Glenorchy Mayor Kristie Johnston says offering the site as a whole gives the council the best chance at attracting a suitable major project.

The council was trying to sell the DEC on its own but has since received expert advice that while the DEC is a valuable and significant parcel of land, its features limit its attractiveness to the market.

This article originally appeared on www.theaustralian.com.au/property.