Report finds potential hidden in plain site                   

The Property Council has identified 101 local government assets with the greatest potential to facilitate private sector activity and investment.

Property Council Victorian Executive Director, Jennifer Cunich, said the Hidden in Plain Site Report identifies local government property assets which could be sold to the private sector to help rejuvenate neighbourhoods and improve local community services.

“There is tremendous opportunity across Greater Melbourne to unlock much needed capital for infrastructure development and renewal.

 “Our report identifies sites ranging across ten inner and middle ring municipalities and presents a shortlist of ‘Top 15’ sites which have been identified by size, value and capability.

“These sites are ripe for repurposing and we encourage their owners (Councils) to investigate the depth of private interest.

“At a time when local governments are faced with increased financial pressure from rising costs, our report offers a pathway to unlocking unrealised capital.

 “The Property Council is keen to start a conversation with all stakeholders on how we can tackle Melbourne’s growing infrastructure challenge. Our Report is the first step, says Ms Cunich.”

A full copy of the report is at www.propertycouncil.com.au/vic

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Media contact:  Asher Judah |  M  0499 841 715 |   E  ajudah@propertycouncil.com.au

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