BAYSWATER council has turned down an offer to buy two properties in Bayswater town centre, which a real estate company says have “significant value” for public open space or parking.
Carters Real Estate invited the City of Bayswater to purchase two properties coming on to the market in the “near future”.
Both properties are 947sq m, one with a dwelling and an outhouse, one just with an outhouse.
According to a report, the real estate agent approached the City because the sites would have “significant value” for public open space, carparking or as development sites, particularly in light of the in-progress Bayswater Town Centre Structure Plan.
Council considered the offer at a meeting in October and requested to get a price for each block separately.
Carters then advised prices based on sales history of similar properties on King Williams and Hamilton streets, which council considered at last month’s meeting.
Early scenarios developed for the structure plan show the properties could accommodate development between three and five storeys, mixed use or residential.
The report stated strategic values of the sites were unclear until the structure plan was completed.