The southern carpark on Akuna St, Kiama has been sold to property developer Eazy Cleaning PTY Limited (Twinstars HGB) for $6,080,000, more than $2 million above market guidance.

Kiama Council exchanged contracts with the developer on 16 October 2023, but has only been able to announce the price now following a 35-day confidentiality period. 

Colliers Wollongong, the marketing agent for the site at 14 Akuna St told The Bugle in June 2023 that the guidance for the carpark ranged between $3.5 million and $4 million.

Selling agent Simon Kersten told The Bugle at the time that the most value could be extracted by building shop top housing on the site, although Eazy Cleaning is yet to lodge a DA for the site and has not indicated its intentions with the property.

The property is 2400 sqm in size on a sloped terrain, and has been kept as a free car parking lot for many years. Developers are allowed to build up to four storeys on the northeast side of the property (roadside).

Kiama Council sold the other, larger car park on Akuna Street to Level 33 Property Group for $28 million in 2022, which used the same tender process as the southern car park sale.

Council said revenue from the sale will be used to complete objectives of its Strategic Improvement Plan, Long Term Financial Plan and Liquidity Plan.