CSU sells prime Albury site
15 APRIL 2012
In one of the largest land deals seen in Albury in many years, CSU has sold its former central Albury site to interests associated with the Zauner Group for an undisclosed sum.
In one of the largest land deals seen in Albury in many years, Charles Sturt University (CSU) has sold its former central Albury site to interests associated with the Zauner Group for an undisclosed sum.
Bounded by Guinea, David, Wilson, and Olive streets, contracts for the sale of the 3.3 hectare site were exchanged on 30 March 2012
“After an exhaustive selection process, we are pleased announce that Zauner Group was selected as the preferred proponent to redevelop this prime site located in the heart of Albury,” said Executive Director of CSU’s Division of Facilities Management, Mr Stephen Butt.
“Since the University decided to substantially expand its presence in Albury-Wodonga in 1993, CSU has invested over $70 million in land, buildings and facilities on our modern, 87 hectare site at Thurgoona. We simply outgrew our Albury city site, which is now surplus to our needs.
“In keeping with Charles Sturt University’s philosophy of maintaining close relations with the cities in which it is located, the University has sought to dispose of the property in a way that will leave a lasting positive legacy for Albury,” Mr Butt said.
“In selling the property, the University provided a Development Control Plan that was endorsed and adopted by Albury City Council, which provides guidance for the future development on this site.
“When we decided to dispose of the site, we ran a two-stage process to obtain expressions ofinterest from a number of local and national developers who were keen to participate. In selecting Zauner Group as the preferred developer, the University noted that the developer addressed the essential criteria of the request for proposals, and is confident the development control plan will guide the future development of this significant site,” he said.
“The process has evidenced the deep experience from local groups and their commitment to deliver a quality project for the City.”