Wyndham council is continuing to delay revealing how much it paid for the former home of Werribee Hyundai in Cherry Street.
But indications are the price tag may be higher than expected. In a written statement, council sustainable development director Dean Rochfort said it would be “premature” to disclose the purchase price.
As reported by Star Weekly, the council bought the 3200-square-metre block at 37 Cherry Street, Werribee, in December last year.
Sources have told Star Weekly it is likely the council paid $4.8 million for the site. It is also understood the council bought two adjoining blocks for about $300,000 each.
Mr Rochfort said there were several reasons the council had not revealed the purchase price.
“The sale process still has a number of key steps to occur, including satisfactory site remediation, settlement and transfer of title,” he said.
“Under the terms of the contract, council must also obtain consent of the vendor to release the price.”
Mr Rochfort also indicated the council did not know exactly how much the purchase would end up costing, adding that the “ultimate resolution of site remediation may impact on the final price paid”.
Last week, council chief executive Kerry Thompson said the purchase was “future- focused”.
She said the site could serve a number of purposes in years to come.
However, it would most likely be initially used as a single-storey carpark.
“The exact nature and operational details of the carpark, as well as the overall direction for car parking in the CBD, will be informed by the council’s car parking strategy,” Ms Thompson said.
The purchase faces criticism from CBD Landowners’ Group, which fears an on-site car park will increase congestion on Cherry Street.
