For sale: Up to 4260 island blocks from just $15,000
UP TO 4260 blocks of residential land on the Southern Moreton Bay Islands will go up for sale like never before.
A number of surplus Redland City Council-owned properties on the islands will be offered for sale to neighbours before going to auction, following a decision by the council today.
A new process will more efficiently free the council of many of the 4260 blocks it owns on the islands - which include Russell, Macleay, Lamb and North Stradbroke.
Up until now, enquiries by neighbours to buy the unused blocks were dealt with on a case-by-case basis but a standard approach will now be introduced.
Division 5 Councillor Mark Edwards said the sale could deliver up to $2 million in revenue for the council, and could also bring in property maintenance costs.
According to the council, a 'conservative estimate' of revenue was in the range of $15,000 - $20,000 per property, based on average market value of island properties.
A realestate.com.au search shows that while vacant blocks on North Stradbroke Island sell for hundreds of thousands, blocks on nearby Russell Island have recently sold for as little as $18,000.
He said while not all blocks of land would be considered surplus to the council, many would now become available.
"I'm very supportive of this," Mr Edwards said.
The move could also ease the burden for local residents, a number of which had previously applied to the council to purchase land neighbouring their properties, in order to expand their holdings and give them the opportunity to maintain the space themselves.
The move comes after Russell Island resident Jan Schut highlighted the problems facing locals who lived next door to vacant blocks, especially regarding poor maintenance.
The process would include a range of criteria, including the requirement for the buyer to cover all costs of the transaction, before the property was formally offered its neighbour at an assessed market value.
Generally, the council said, the land being offered for disposal would be zoned for residential purposes, however, in exceptional circumstances land zoned conservation or environmental management may be considered for disposal also.
Originally published as For sale: Up to 4260 SEQ island blocks from $15K