THE historic Midland Livestock Saleyards site could fetch up to $6 million from a property developer, according to Ray White manager of industrial Barney Dear.
Planning Minister John Day on Thursday called for expressions of interest in buying the 14.6ha site, which has Clayton and Lloyd streets frontage, promoting it as a ‘rare opportunity’.
Mr Day said the land was suitable for a large retailer, as well as commercial or light industrial development.
The saleyards closed in 2010 when another opened about 40km away in Muchea.
‘The development of the saleyards site will contribute to the overall Midland Redevelopment Area,’ Mr Day said.
‘The land development is expected to attract about 7500 new workers, providing an opportunity for much-needed, large format commercial businesses to service the growing Midland community and surrounding areas.’
Mr Day said the development of the site was ‘another vital step in the urban renewal of the area’.
‘We are seeking an experienced developer best placed to utilise the site in its entirety, ensuring commercial investment and employment opportunities for the local economy.’
Mr Day said valuation of the land was subject to commercial confidence, but Ray White’s Mr Dear said land of that nature usually sold for about $400 per square metre.
That would put a value on the area of $5.8 million.
‘It is a ballpark figure but I would expect those 14 hectares to more likely fetch between $4.5 million to $5 million,’ he said.
‘Based on the zoning, the large format retail would mean bulky goods’