Friday 22 July 2016
Under its Economic Development Strategy, Bega Valley Shire Council aims to bring new economic activity into local towns and villages. Stable year round employment for residents is a key goal.
In line with those ambitions, Council has executed a Deed of Agreement with RomFam Investments around the acquisition of the Council owned former library site on Main St Merimbula.
The Aldi supermarket chain is looking at being the anchor tenant for the development that would follow any sale.
The two Council-owned blocks, Lot 946 DP 604076 and Lot 949 DP 810986, were offered for sale by tender with no offers received, leaving Council free to negotiate with any potential purchaser.
“This is a great result for Merimbula and the broader community,” Lucas Scarpin, Director Strategy and Business Services said.
“It brings competition, investment and fresh interest into the Shire, and turns what is written in our Economic Development Strategy into action,” Mr Scarpin said.
Aldi is a regional business that is likely to draw people from across the Shire and the broader region into Merimbula to shop. While these shoppers are here, all of Merimbula’s commercial and natural assets are on show, driving the town’s broader economy.
Council has negotiated a sale for market value at $1.3m, with any proceeds being redirected into parking and transport infrastructure for Merimbula.
Council’s agreement with Romfam Investments gives the company up to 12 months to conduct its due diligence.
RomFam have indicated that they are looking forward to working with the Merimbula business community to ensure that the benefits of bringing a business like Aldi to the region are shared.
“This is a great example of how Council is working to seed economic development in the Shire, while also having an eye on the benefits we can deliver for the broader community,” Mr Scarpin said.
Details of the agreement were declassified by Council on Wednesday 20 July 2016.