Councillors will decide at tonight’s meeting if the Town should advertise the sale of the vacant 4,482sq m land parcel that would be split into 11 lots after it was deemed surplus to requirements.
The land was originally bought from owners in the area by the City of Belmont in the early 1990s to accommodate a dual carriageway along Orrong Road.
In 2000, the Town purchased the remaining residential-zoned land, now known as lots 500 and 501, for $100,000. Once all 11 lots are sold, they would net $600,000 for the Town, which it plans to add to its Future Projects Reserve.
Council wrote to all affected landowners and four have expressed an interest in buying lots adjacent to their own properties for $150,000 not including GST.
If approved tonight, the land sale will be advertised and submissions will need to be received in two weeks.