Glenorchy’s Derwent Entertainment Centre and land to be sold

Glenorchy City has taken its first critical step to sell Wilkinsons Point along with the Derwent Entertainment Centre to lure bidders to consider a potential package deal.

Last night, the council unanimously voted to start the process to sell the prime riverside land.

The council will now seek the community’s opinion on the matter through a public consultation process before proceeding with any sale.

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The 9ha parcel of land, which is comparable in size to Hobart’s Macquarie Point, could easily accommodate a hotel and entertainment precinct or a massive waterfront housing estate.

When combined with the DEC, the 16ha piece of land could prove irresistible to any future developer.

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

“We have received expert advice that we would achieve a better community outcome if we consider the entire point as a precinct rather than an ad hoc development,” Ald Johnston says.

Deputy Mayor Matt Stevenson says the potential to sell Wilkinsons Point was raised in last year’s budget.

“I’m highly supportive of this,” he says.

“This is consistent with our master plan.”

Alderman Simon Fraser says it makes “perfect sense”.

Alderman Bec Thomas says while she supports the sale it is contingent on public access to the entire foreshore and Loyd Rd be maintained, which was part of the motion adopted.

The decision to sell the DEC last year was met with a mixed reaction from the Glenorchy community, with a petition containing more than 1000 signatures objecting to the sale submitted to the council.

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 limited its attractiveness to the market.

This includes:

AN irregular shape.

LIMITED access from anywhere other than the Brooker Highway.

LIMITED prospects as a viable business on its own.

In a letter to the council, Knight Frank Tasmania CEO Scott Newton says he strongly believes that if the council considers going to the open market on the DEC, it should also offer Wilkinsons Point.

“The sites should be offered together as whole or separately at that point,” he says.

Edwards Property Consultants’ Andrew Edwards echoed those sentiments.

“I am firmly of the opinion that all titles should be offered together,” he wrote.

“They complement each other and will enable much more efficient development.”

The decision means a halt in selling off the DEC.

In October last year, the council rejected an offer from the Southern Huskies consortium, HydraPlay, which the Mercury understands fell well short of the valuer-general’s market valuation of about $4 million.

The council unanimously agreed the HydraPlay offer was well short of what was considered acceptable.

Last year, a $4 million interest-free loan was offered by the State Government to help the council develop land at Wilkinsons Point.

This article from The Mercury originally appeared as “Glenorchy Council poised to lure investors with DEC and land package”.