Wodonga Council considering land sale at Logic under changed policy

The council has publicly notified its intention to sell 12 hectares of land in Roche Drive for $3 million or $25 per square metre.

But unlike previous land sales at Logic the proponent and use for the land haven't been disclosed.

In July this year, the council, on the casting vote of mayor Kevin Poulton, altered the policy relating to the sale, exchange or transfer of all council-owned land.

Under the policy Logic land sales were subject to strict confidentiality with details pertaining to "development incentives" also kept under wraps.

IN OTHER NEWS

"The proposed land sale is a new project at Logic," Wodonga Council chief executive Mark Dixon said.

"All parties involved are subject to strict confidentiality requirements and as such, no further detail is available at this time.

"The council has set a strategic direction regarding future land sales at Logic as part of the sale, exchange or transfer of land policy adopted at the July council meeting."

The policy switch followed the collapse of a deal earlier this year to sell 93 hectares at Logic to Birdwood Energy and Derwent Industries for $4.6 million or $5 per square metre.

The companies planned to build a foundry and green energy project with one of the sites they wanted to buy from council is located next door to the latest proposal for Logic.

Councillors voted 6-1 against selling the land to Birdwood Energy and Derwent Industries despite a staff recommendation for the sale to proceed.

In a 25-minute submission to councillors late last year, Wodonga's former investment attraction director Michael Gobel described the proposed deal as a "fire sale".

Meanwhille, agents Colliers Industrial Capital Markets have been engaged to sell a major existing tenant at Logic.

The Wine Depot Distribution Centre is located in Albertson Road and is being marketed under an attractive 10-year sale and lease back deal.

The facility was built in 2005 and is 7252 square metres in size.

There is also the opportunity to expand the existing facility by 1470 square metres.

The centre is being offered under an expressions of interest process with bids closing next Friday.

Our journalists work hard to provide local, up-to-date news to the community. This is how you can continue to access our trusted content: