Industrial park prices set to be slashed

Industrial park prices set to be slashed

July's council debate on an economic stimulus package was also intended to include a proposal to slash prices on lots for sale at the Tenterfield Industrial Park, but this will be a discussion for another day.

Economic development manager Harry Bolton proposes cutting the advertised price by 50 per cent, to arrive at prices ranging from $47,330 to $94,159 for the nine lots still available. They range in size from 1920 to 4028 square metres.

Mr Bolton pointed out that in the past developments deemed to have a positive effect on the Tenterfield community have generally been negotiated down by 50 per cent or more anyway, but the process slows proceedings and often tests the patience of the developer.

He said local real estate agents find it difficult to market the lots at their current prices, and the proposed revised prices equating to around $25 a square metre seem reasonable.

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Councillors were keen to separate this issue from the development contribution fee discounts included in the same report, and requested another report come back to the next council meeting after further discussion with real estate agents.

Councillor Bronwyn Petrie said she is aware that the current asking prices are deterring outside businesses looking to move here, and local businesses wishing to relocate. She said there would still be room for further negotiation, but she is keen on moving forward with an advertising campaign because timing is critical.

Mayor Peter Petty quickly shut down any debate on whether council's $1.2 million investment to establish the industrial park was a good investment to start with.

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