Central Coast Australia

Central Coast News

Sale of Gosford Administration Building one step closer

By Central Coast Council
Posted: 3 Dec 2021
Central Coast Council is in talks with the State Government on the sale of the Gosford Administration Building with a view to having a Memorandum of Understanding in place by the end of the year.

CEO David Farmer said that negotiations were underway and should a sale proceed it would be a positive outcome benefitting the community and contributing to the revitalisation of Gosford.

"We have always said that selling the Gosford Administration Building would pave the way for an exciting development in that space that could have a significant impact on the shape of Gosford's CBD," said Mr Farmer.

"The State Government's proposal answers the need for urban renewal at that end of Gosford and the educational nature of the proposed precinct compliments the recently opened Clinical School at Gosford Hospital and Council's own Regional Library due to start construction in May 2022.

"Council is now back on track financially meeting all major milestones and targets in its recovery plan. A sale of the building would be another step forward in Council's asset sales program delivering a positive boost to Council's financial position and continuing to provide confidence to our lenders that Council operations can continue sustainably, and loan can be serviced.

"Maintaining our stable financial position is critical for the future of the organisation and one of the final actions is to maintain rates at current levels which is what we are proposing to the Independent Pricing and Regulatory Tribunal early next year," Mr Farmer said.

More information about Council's financial recovery actions and asset sales is available at Council's website. Search 'financial recovery plan' at here

 
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