Harvey Norman building sold for $2m

IT'S A DEAL.  THE Harvey Norman store in central Albury will be demolished and redeveloped for three office blocks.

Albury council has accepted a development company’s offer to buy it for more than $2 million.

TREBD Pty Ltd will take over the 4292sq m site in Wilson and Macauley streets after Harvey Norman moves to Borella Rd in February.

City councillors chose TREBD from five bids at a confidential meeting on Monday night.

Malcolm and Yuan Latham’s indoor market was the losing bid and it is believed three other bids proposed offices, surgeries or shops, but none included housing.

TREBD hopes to attract Centrelink and the Child Support Agency from the Taxation Offices in Smollett St.

An undercover car park would be built in the larger office block.

Albury council advertised unsuccessfully in June for expressions of interest for commercial and residential proposals.

Five bids were submitted later.

Harvey Norman is paying the council rent pending the relocation to Borella Rd.

TREBD is linked with national chartered accountants and business advisers PKF and has built offices in Sydney.

Mayor Amanda Duncan-Strelec and general manager Les Tomich said yesterday the TREBD plan for professional offices fitted in with the city’s strategy for the central business district.

Mr Tomich said the price was similar to what the council had paid for the site in 2005 but comparisons were complicated by the fact the council bought an occupied building and was offering a vacant site.

“The price we accepted from TREBD is higher than the independent valuation we received,’’ Mr Tomich said.

“The city will get brand new offices designed by an architect with parking under cover, so ratepayers are the winners across the board.’’

The store was built as a wool store in the 1930s.

Source: The Border Mail

PrintEmail Page« PreviousIndexNext »