Park or highrise? Seven days left to decide fate of ABC site

Protesters will gather this morning in a last-ditch effort to pressure the Government into buying back an iconic riverfront block.

Protesters gathered near the Regatta Hotel in Toowong today in a last-ditch attempt to persuade the State Government or the council to buy back the old ABC site before it falls into developers’ hands.

Expressions of interest on the huge riverfront site, at 600 Coronation Drive, close on September 30.

Agents Colliers said there had been very strong interest from local, interstate and overseas buyers since Sunland put the property on the market via an expressions of interest campaign.

Local Greens state MP, Michael Berkman, has been campaigning for the 15,000 sqm site to be turned into a public riverside park.

The price would be steep. A former Labor federal Government sold it for just over $20 million to Sunland but it is worth at least $30 million now, possibly much more.

The State Valuer-General has estimated 600 Coronation Drive is worth $31.5 million.

But Mr Berkman said that was less than 10 per cent of the $400 million which the State Government gave to major landlords via land tax rebates.

“It is less than the $50 million the State Government is sacrificing in deferred pokies taxes for the gambling lobby,’’ he said.

“It is less than the $115 million Council spent on widening one 700m stretch of Wynnum Rd in East Brisbane.

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“The Lord Mayor (Adrian Schrinner) has already announced $100 million for new parks, so funding the purchase 50/50 with the State Government would leave plenty of cash to spare.

He said the ABC site would be the perfect landing point for Council’s Toowong-West End green bridge.

Cr Schrinner has previously suggested Council might be interested in acquiring part of the land for a landing point for the bridge, but was not interested in acquiring all of it.

“I am writing to the Treasurer (Cameron Dick) and the Lord Mayor asking them to buy back the ABC site and split the cost 50/50,’’ Mr Berkman said.

“We have a once-in-a-decade chance to get the ABC site back in public hands.

“The site sat derelict since 2006 while Council approved thousands of new apartments and locals cried out for more green space.

“There’s currently a construction slump, so if a private developer buys the site it will likely sit empty for years and then one day they’ll build high-rise apartments.

“As residential backyards disappear, workers and families living in apartments in the inner-city need a place to stretch their legs.

“This would also be a city-making project — a new South Bank for the west side.

“Based on community feedback, I’m pushing for a new park, a public pool, gardens, and a dance hall or a new community centre on the site.

“More than 2500 people have signed my petition to buy back the ABC site, and I’m really proud to be working with residents to make it happen.”