A 1.3 HECTARE green reserve will be the feature of Bathurst Regional Council’s latest land release.
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Seventeen lots in the Avonlea 9 subdivision will be sold by ballot in coming months.
The lots, standing on Freeman Circuit and Coachworks Way at Llanarth, are being marketed as premium blocks in the Avonlea subdivision.
They are, on average, slightly larger than lots in the Avonlea 8 and 10 land releases and range in price from $175,000 to $185,000.
And every lot in Avonlea 9 will face on to a 1.3 hectare reserve that will remain as green space within the subdivision.
Council general manager David Sherley said land sales were an important part of council’s budget process.
He said the revenue raised through land releases - Avonlea 9 is set to boost council coffers by more than $3 million - benefited all residents.
“Council develops land to ensure there is an adequate supply in the marketplace,” Mr Sherley said.
“The funds council gains through residential land sales are always used to put money back into services provided to the community, including the library and art gallery.
“The money made out residential sales also helps council ensure we can keep an adequate supply of industrial land available at all times to facilitate the growth and expansion of Bathurst.”
The Avonlea 9 lots will be the last release in the current Avonlea subdivision.
Council has sold around 120 lots in the Avonlea subdivision since 2010, reaping millions of dollars in profit.
Each of the land releases has been offered by ballot initially, with all registered entrants, including builders, competing on the same purchase terms.
If any lots remain unsold after a month, they are offered for sale on “builders’ terms” of a 10 per cent deposit and a 12-month delayed settlement and, after three months, council offers local real estate agents the chance to sell lots that still remain on the market.
The ballot system has created its share of controversy in recent years - particularly the practice of businesses entering the ballot under a range of different registered business names - but council staff remain convinced it is the fairest way to sell the land.
Councillors have been invited to suggest a better system for council staff to investigate but, so far, no alternative has been put forward.
