Murray Shire Council has adopted the draft Exchange Hotel Local Planning Policy with modifications to incorporate several recommendations highlighted during the consultation process.
The policy identifies planning and development outcomes for redevelopment of the historically significant building, providing certainty for prospective buyers and allowing operators to establish function facilities and short-term accommodation.
The council finalised acquisition of the Exchange Hotel site on George Street in 2012 to achieve a usable public riverfront foreshore in the town centre. The building has been closed since 2008.
Shire President Wallly Barrett said investment in the site offered the chance to better integrate the river with the town centre and stimulated uses for private investment.
Get in front of tomorrow's news for FREE
Journalism for the curious Australian across politics, business, culture and opinion.
READ NOW"The Exchange Hotel has social value as a former centre of community life in Pinjarra and is valued by the community,�" he said.
Over the next three months the council will finalise the appointment of a marketing consultant and seek expressions of interest for the redevelopment.
The Exchange Hotel includes the remnants of two Victoria Georgian-style buildings (c. 1866) and is one of the oldest buildings in the Peel region.