Council agreed at its meeting on Tuesday night to sell part of the Central Car Park in Glen Waverley for $50.88 million (plus GST) following a successful Expression of Interest process throughout June and July.

As a requirement of the contract of sale, Council will excise approximately 1,000m² of the Central Car Park land on the western boundary, for retention as a future public plaza.

The successful purchaser is Glen Carpark Pty Ltd. Settlement is the later of 90 days after the exchange of the contract of sale and 14 days after the plan excising the land for the public plaza is registered.

As part of the sale conditions on the future development of the site, Council requires the purchaser to provide an active interface, not only blank walls, between the land and the new public plaza. The purchaser is also required to provide a footpath along the Railway Parade North frontage. The land will remain a free public car park, until the purchaser is ready to commence a development on the land.

Council has committed funds from the sale towards the Glen Waverley Civic Precinct Project. Funds received from the Victorian Government’s compulsory acquisition of Council land in Glen Waverley for the Suburban Rail Loop will also be allocated to this Project.

Special thanks to Council’s Property Team, who managed this sale, including the statutory processes, the procurement of the real estate agent and the EOI process.