Ballarat's biggest new development has gone on sale, with the state government revealing how long it's planning to stay in the site.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
A Melbourne real estate firm are seeking expressions of interest from potential purchasers for the $100 million GovHub building. The new complex for 1000 public servants at the Civic Hall site is expected to be completed by the end of next year, with the Victorian Government committing to a 20-year lease on the site.
The sale of the crown land, followed by it being re-leased for the GovHub comes after a subdivision was granted in March to separate Civic Hall land from the GovHub portion by the Office of Surveyor General Victoria.
SEE THE TIMELAPSE VIDEO FROM REGIONAL DEVELOPMENT VICTORIA BELOW
The building has more than 10,800sqm of lettable office space, with the advertisement stating it will have approximately 212 packing spaces for tenants.
City of Ballarat had previously stated they hoped there would be 'an element' of public parking in the development's car park.
"If there are private investors willing to contribute such a significant amount of dollars, (that) commitment says future success," Ballarat mayor Samantha McIntosh said in July.
The Courier understands GovHubs in other regional cities will also be sold after completion, as the state government struggles with declining revenue following a collapse in property prices and the resultant loss of stamp duty income.
Expressions of interest, including from prospective international buyers, will be taken until September 11.
Have you signed up to The Courier's variety of news emails? You can register below and make sure you are up to date with everything that's happening in Ballarat.
