Davistown Wetlands: Central Coast Council set to end sale negotiations
The ongoing saga of the sale of Davistown Wetlands has taken another turn, with the issue to be debated at the next meeting of Central Coast Council. You won’t believe what the likely outcome is.
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Sale negotiations between Central Coast Council and the owners of Davistown Wetlands are going nowhere.
The issue is set to come before Monday night’s council meeting with staff recommending that the council no longer pursue buying the land.
In a council report, staff indicate that an agreement “cannot be reached” for an amount that represents market value for the 19.2ha of environmentally sensitive land.
While negotiation prices have been sealed in confidential papers, staff have indicated that council’s latest offer was hand delivered to the owner of the land in May, as well as emailed to the agent One Agency Platinum.
“A representative from Illoura Waters Pty Ltd, the owner of the land, has now responded,
advising that council’s offer is rejected and offered the land, known as the Davistown
Wetlands, for sale to council for a price not supported by the market evidence,” the report states.
“The counter offer from Illoura Waters Pty Ltd is so far above the two independent valuations
obtained by Council that it is unrealistic that a mutually agreeable price will be reached.”
Selling agent Larry Altivilla described the council’s offer as “next to nothing” and not worth consideration.
“They value wetlands, open spaces and views of the community to put it back into public hands,” he told the Express.
“But sometimes you have to pay what something is worth. We are not talking about paying over and above, we are just looking for something that is fair.
“It’s been dragging on for such a long time now, the community is frustrated. Council need to compromise; sit down with the owner and devise a plan so a common result can be achieved.”
Mr Altivilla said the group of Sydney buyers who made an offer last year were still in the picture, however were looking at options for the land.
Council staff indicated that the council’s offer was in line with two independent valuations council sourced for the land, with both reflecting market value.
Late last year, Mayor Lisa Matthews said she wanted to see a deal done however highlighted that council “should not be held to ransom to pay a premium.”
The Davistown Progress Association is keen to see council buy the land for its future protection and submitted a petition with 1209 signatures.
The saga of Davistown Wetlands has been ongoing since October 2017 when the blocks were listed for sale under the name “Tidal Shoals” with a sales campaign and a price tag of more than $120 million.
The property went to auction but was passed in after a single “lowball” bid of $7m.
The site includes six parcels of land in Lillipilli St, Pine Ave, Kincumber Cres and Malinya Rd.