Market Square owners describe the Moorabool St bus exchange as a ‘deal killer’
Emails between Market Square management and City Hall, obtained under freedom of information, reveal that the controversial Moorabool St bus exchange is a ‘deal killer’.
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The foreign owners of the troubled Market Square shopping centre will not invest in the site unless the Moorabool St bus exchange is relocated, documents reveal.
In emails obtained under freedom of information, the centre’s manager, property firm Knight Frank, described the bus stop as a “deal killer”.
The comments were made during discussions between Knight Frank and the City of Greater Geelong regarding the draft Market Square masterplan that council endorsed late last year.
While City Hall does not own the land relevant to the plan, it spent $250,000 developing it in an effort to lead the conversation and prompt action within the much-maligned area.
The bus stop has long been a hotspot for anti-social behaviour.
Knight Frank laid bare its concerns in a November 1 email to a council employee whose name was redacted.
“Can you please confirm timelines of when the Bus Stop will be relocated into the middle of the road, or alternatively point me to the right person at PTV (Public Transport Victoria),” it read.
“As we have discussed on many occasions, it’s very difficult to engage in any meaningful leasing discussions for the Little Malop St or Moorabool St arears (sic) when the current bus stop location on our doorstep is a ‘deal killer’.
“In order for the Owners to consider future investment, this item must be a priority for the council to address.”
Market Square is owned by the secretive Singapore-based group Davinski Nominees.
The group also owns the nearby Centrepoint Arcade.
While the state government has the final say on the location of the bus stop, council’s masterplan recommended for it to be moved to the middle of the street.
Knight Frank was told by council on November 22 that any movement, if it were to occur, was a long way off.
“The relocation of the bus stops are not expected to happen quickly as it will require a significant process, with further technical reports required,” the email read.
A state government review of the bus stops’ location, led by Geelong MP Christine Couzens, remains ongoing.
In a March 2023 email exchange, Knight Frank also sought clarity from council regarding the proposed maximum building height limits set out in the state government’s Central Geelong Framework Plan.
“We understand the explanations behind these heights, however the Owners have enquired if they are flexible and on a case-by-case basis?”
A day later, Knight Frank added: “The Owners are obviously looking at their options for both these properties (Market Square and Centrepoint Arcade).”
The emails also revealed that just two months ago, Knight Frank asked council to cut the Malop St trees that form part of the controversial green spine project.
“We are receiving negative comments from retailers in the area about not being visible, nor being conducive to shopping,” it said.
“We thought maybe some trimming at least could assist.”
A City Hall arborist was soon deployed.
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