New industrial land lots for Ballina

BALLINA Shire Council has announced new industrial land for sale by public auction to develop new business opportunities and support sustainable economic growth in the region.

The nine industrial lots within the Southern Cross Industrial Estate on Boeing Avenue and Hercules Crescent are zoned E4 General Industrial. Ballina Council will retain three of the 12 vacant lots.

The objectives of the zoning category include ensuring the efficient and viable use of land for industrial purposes, encouraging energy and water-efficient development, and creating employment opportunities.

Each of the 1,527 m2 to 4,492 m2 lots is connected to Water, sewer, electricity, and NBN services.

The eastern side of the development comprises established light industrial development. Opposite the lots on Boeing Avenue is the Harvey Norman Homemaker Centre, which is currently undergoing a major expansion program.

All sale contracts include a ‘use it or lose it’ buyback option, under which a buyer must demonstrate ‘substantial commencement of construction works’ within three years from the settlement date.

The Council will reserve the right to exercise the buyback option and buy back the lot at the initial purchase price without any compensation payable if the buyer fails to meet the three-year condition.

The buyback option deters speculators from buying lots and sitting on them indefinitely, as the development’s purpose is to promote the growth of business and employment in the Shire.

A public auction will be held on Wednesday, April 30, at the Lennox Head Cultural Centre. Registration opens at 5 pm, and the auction commences at 6 pm.

For more information, visit ballina.nsw.gov.au/boeingavenue