Buzz over hospital land sale

THE future of one of the city’s biggest and best development sites could be secured before Christmas.

The agent handling the sale of the old hospital site on Harbour Drive, and Boambee and Victorias streets, said a number of parties were in negotiations to secure the prime piece of real estate.

Curtis Field, from Colliers International, said the recent close of expressions of interest in the site had flushed out a strong level of interest.

“It is a major site that will require a very capital intensive project so negotiations are progressing slowly at this stage,” Mr Field said.

“But they are moving forward and I am becoming increasingly confident of a result in the next couple of weeks.”

Mr Field said while one potential buyer was investigating the economics of a major residential development, another was looking at the possibility of a retirement and aged care complex.

“The current zoning is very flexible and the fact that the council has identified it as a significant site for the city bodes well for a result,” he said.

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