Waterfront lot up for sale again

LandCorp has begun its push to sell the remaining lot on the Albany waterfront, re-releasing the land at a reduced price yesterday.

The 4338sqm lot between the Anzac Peace Park and the Albany Entertainment Centre has been advertised for just under a million dollars.

The land is lot 1 of the development project, which was first released in July 2011 with lot 6, where Due South Tavern was built in 2014.

Lot 1 and Lot 6 were the first released lots in the development in July 2011, when the project was officially opened.

The site was first advertised for $1.6 million in 2011 and has now been dropped to $945,000, excluding GST.

LandCorp chief executive Frank Marra said as the land was zoned for mixed use and commercial development, it provided investors with a range of opportunities for a hospitality or tourism development, such as shops, restaurants, cafes and offices.

“The Waterfront at Albany and the Middleton Beach redevelopment are key land development projects LandCorp is delivering in Albany to expand the hospitality and tourism industries in the Great Southern region,” he said.

“The release of the last remaining lot within The Waterfront at Albany development is a significant milestone in the project’s delivery and offers an unprecedented opportunity for investors.”

The hotel site on the waterfront was purchased by prominent local businessman Paul Lionetti in mid-2016, while the two adjacent lots of 3309sqm and 4564sqm were also bought by a local developer, Aquavista Holdings.