Tuesday, 24 May 2022

Council to discuss almost half-price offer for Inner City Bypass land

BY DAKOTA TAIT

Newcastle Council will discuss on Tuesday evening, a Government offer to purchase land for the Newcastle Inner City Bypass, at half what the City's valued it.  

Transport for NSW is offering $1.155 million for the compulsory acquisition of eight parcels of land at Lambton and New Lambton heights.  

An independent valuation, however, puts the land at $1.95 million.  

Councillors will decide if they'll formally reject the offer at their meeting, but the formal recommendation is that they continue negotiations and push for an offer at market value.