Nick Jarvis
Thought I would post on here to clear up some confusion and panic about the latest Real Estate news occurring in Willow Court, as it is a bit confusing.
There seems to be two things happening here.
One is the vendor is trying sell the Oval Wards through LJ Hooker.
The other is LJ Hooker is acting on behalf of the Derwent Valley Council in looking for Expressions of Interest (EOI) for the Wards that they own, more specifically the Barracks Precinct.
To access the EOI information from LJ Hooker you need you to complete and sign the confidentiality agreement form which means no one can share the particulars of the EOI online.
From the information I have gathered from reputable sources, the site is up for sale/lease. So an investor could buy the entire Council owned buildings/land today if they had the money, but this is not the intent of the EOI.
The idea is seeking ideas/thoughts/proposals for the site in part or in whole. Any deal would have very stringent guidelines attached and the sympathetic restoration and fitter usage would be paramount in any deal.
So to put all this into perspective. This site is up for sale/lease.
Several private buildings are already for sale through McGrgor First National, the River Flats below Willow Court are under a EOI, Oval Wards are for sale through LJ Hooker, and the Barracks Precinct is for sale/lease via a EOI through LJ Hooker.
This would only leave a very small handful of wards/buildings that are not up for sale. Meaning you could almost own the bulk of the site.
http://www.mcgregorfn.com/buy-commercial-real-estate/retail-office-new-norfolk-tas-41403120516
Getting back to the Oval Wards a quick look on LJ Hooker's website ad clearly states that only the oval wards are for sale.
1 The Avenue New Norfolk, TAS
Asking Price By Formal Tender
Major Residential / Multi-Unit Development Site
+/- 15,197m2 land in four strata titles to be sold as one package
Four heritage buildings on site
Suit residential or multi-unit development (STCA)
Zoned 'General Residential' New Norfolk Interim Planning Scheme (2015)
One block from High Street and community facilities
Adjacent to new Woolworths Supermarket development
Great opportunity for investor / developer to redevelop or 'land bank'