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Council chooses agent to sell Akuna St

The Bugle App

Cathy Law

13 December 2021, 9:10 PM

Council chooses agent to sell Akuna St

Kiama Council has moved a step closer to selling its Akuna St/Mitre 10 holding in central Kiama with the appointment of Savills Australia as the agent for the public tender.

 

Six agents expressed interest in the role, and Savills was chosen following an Expression of Interest process.



Savills Australia is an office of one of the world's leading property agencies, with operations in the Americas, Europe, Asia Pacific, Africa and the Middle East. They have strong relevant experience in the marketing and sale of large mixed use commercial sites, as well as knowledge and experience of the open tender process for the sale of public land.

 

An extensive marketing campaign for the sale of the land by public tender is expected to start in February.

 

A report will be presented to Council in May or June advising the outcome of the tender process and successful tenderer.


Council last tried to sell the prime real estate in 2016, but the $8.5 million conditional sale to Wollongong developer Nicolas Daoud and Co Pty Ltd fell through in 2018 when conditions weren't met.