Borough finalises land sale to developer

A PRIZED council-owned Queenscliff property beside Swan Bay has been sold to Melbourne-based real estate developer Mantello Holdings for $3.5 million.

The Borough of Queenscliff announced the formal settlement of the 9,509m² greenfield site at 61–75 Murray Road last week in a deal that included an approved development plan for a 13-lot subdivision.

The land parcels range in size from 445m² to 908m² and are being marketed by the developer as ‘The Cove’, with a starting price of $756,500.

Queenscliffe Mayor Isabelle Tolhurst said proceeds from the transaction would be used to strengthen council’s economic position.

“This sale bolsters the financial security of council in a time of rising inflation and an increase to the cost of doing business,” she said.

“The sale will help us deliver more for our community and make investments that serve us for the long-term”.

Council first published a notice of intent to sell the land at its meeting in July 2018, having owned it since August 1982, and development plans have been in place since 2008.

A Borough spokesperson said the latest modification to the development plan in January 2019 was in response to community feedback and resulted in altering lot access to a single road to help preserve the environmental features of the existing swale drain.