The City has previously had a development proposal for Lot 904 Chisham Avenue from DEVX but that development did not proceed.
A valuation of the land indicates the property is worth $640,000.
The developer, Pathfinder Property Pty Ltd, has submitted three development proposals with the purchase price for the land ranging between $625,000 and $750,000 dependent on which building the council chooses.
However, the City could find its money is doubled if it signs an agreement that offers the local government up to $500,000 more, depending on how many rental tenancies are secured in the first year of practical completion.
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READ NOWThe council was to vote on the officer’s recommendation on Wednesday night.
Officers have recommended the council advertises Option 3, a three-storey office building with 2256sq m of floor space.