Property Sale & Disposal - Council Policy

Sponsor:	General Manager Corporate
Date Approved:	24 May 2006
Date Reviewed:	10 March 2008
File Reference:	13/1
Community Outcome:	Intelligent and Progressive Business growth that is in harmony with the city's identity and community spirit.

To ensure that the sale and disposal process of Council owned surplus land will obtain the highest value for the land for Council.

requires all land declared surplus to be sold on the basis of the highest value and best use concept
requires all land declared surplus to be sold for a value no less than that set by a current independent valuation by a Registered Valuer. The valuation is to be undertaken within two months prior to being presented to Council
endorses the practice of selling surplus land by the method considered most appropriate for the property being sold.

In the first instance, competitive open market methods of sale will be considered and determined on merit. These may include: public tender, public auction or private treaty.
In some circumstances Council may consider a sale or disposal other than through the open market based on individual case merits. These circumstances may include but are not limited to the following:

Land that because of its small size, dimensions or irregular shape would not readily support a self-contained development outcome
Land that has no legal access
Land to be developed by another level of government
Preferred future use for the land as identified by the Council
Land of nominal value
Land for inclusion with an adjacent holding
Land that will complement a proposed development on an adjoining site, the sale of which is consistent with Council's objectives.

In all cases any discount relating to the disposal of surplus land shall be by way of a separate Grant approved by Council, not by way of reduction of the purchase price.

Council land declared surplus to requirements will be disposed of in accordance with the relevant Statute(s).

This Policy defines land as a physical entity including buildings, structures or improvements to land or land covered by water or a strata lot or unit.
The highest and best use concept is defined as the most reasonable, probable, and legally permissible use that will support the highest present value.