Paul Weston: Magic millions lost in Black Swan Lake as public asset used for temporary car park

THE Gold Coast’s biggest stink is about whether a 2.7ha stretch of water can be called a lake or a borrow pit. But there is bigger question. As a ratepayer, are we being short changed?

THE Gold Coast’s biggest stink is about whether a 2.7ha stretch of water can be called a lake or a borrow pit. But there is bigger question. As a ratepayer, are we being short changed?

In November 2016 at a council meeting, area councillor Gary Baildon convinced a majority of councillors to back him after a passionate speech about filling in Black Swan Lake.

He focused on the 110-year-old Gold Coast Show, how it was struggling after being relocated from Parklands to Bundall’s equine precinct where parking proved a problem.

Cr Peter Young in an email to community groups later wrote: “Now dealing with some facts — the Show Society has confirmed it has had no discussions with Councillor Baildon or the council about the need for this carparking.

BLACK SWAN LAKE SHOWDOWN WITH WORK TO BEGIN

Councillor Peter Young at a protest against the filling of Black Swan Lake at Bundall. Picture Mike Batterham

“Cr Baildon’s motion was that the area be filled ‘for future public open green space, horse exercising and overflow carparking’.

“Cr Baildon’s entire argument related to the provision of carparking for the benefit of the Show Society. He claimed this area would provide for 1000 car parks.”

Inside the council chamber, Cr Baildon had told colleagues: “It is in danger.

“There’s no doubt about that. The show has been a long term event of this city and I want to see it continue.”

MEDIA BLACKOUT OVER SWAN LAKE

Black Swan Lake. Picture: Jerad Williams

Now more than 12 months later we know the Show Society remains in financial trouble. Behind closed doors at council, Cr Baildon is asking for financial help.

We also know through reports in the Bulletin more about the history of the site, that the council was caretaker, that ratepayer money spent on rehabilitation had improved the lake’s water quality and the cause of increasing nutrient load proved to be the stables.

If you are to run with the car park argument, the “borrow pit” was costing the ratepayer between $12,500 and $18,000 a year, the Turf Club needed to expand and converting the area for parking would help the Show.

MAYOR DINES OUT ON EEL TO SAVE SWANS

A swan on the water Picture Mike Batterham

Let’s put aside that the Turf Club could have been approached about paying ongoing lake maintenance, that council could have been more vigilant in protecting your ratepayer dollar by fining offenders.

Let’s also just note that some councillors could have been more transparent about their memberships with the Turf Club, now the subject of a complaint to the Crime and Corruption Commission.

Instead let’s focus on your wallet and how council gambled here. Has anyone, at least in a public forum, asked what this site is worth?

Black Swan Lake at Bundall when council decided to fill it in. Pic by David Clark

Your columnist approached a real estate agent. “It will be worth a helluva lot of money. It’s probably $10 million. You would need to ask a valuer,” he replied.

A property search shows no value placed on the council land. Further searches show a much smaller block, on just more than 4000 sqm, sold for $2.8 million in January 2016.

As the agent explained, the properties in the equine precinct backing onto Black Swan Lake are worth millions not due to the stables and infrastructure on them but the value of the land.

The Gold Coast Turf Club.

A respected valuer looked at the square metres and agreed to do the maths. His calculations considered zonings, the cost of filling the waterway and likely townhouse development.

“It then becomes a big block of land in Bundall. There’s significant uplift improvement. You’re looking at $10 million to $12 million,” he said.

So what was once swamp land, became a cow paddock, got dug up so the dirt could be used elsewhere and called a “borrow pit” is like any other property with views to Surfers Paradise.

This is the end story of Black Swan Lake. A multimillion-dollar asset, owned by you and me, will become the most expensive overflow car park and horse training yard in the State.