City of Melbourne’s property portfolio responds to the needs of the community by selling surplus land and strategically acquiring additional properties. The Sale and Acquisition of Land Policy provides a framework to guide decision making in relation to the sale and acquisition of land.
The policy ensures that we:
- Have a consistent, equitable and transparent process in relation to the disposal and acquisition of land.
- Comply with best practice and legislative requirements when undertaking the sale, exchange or acquisition of land.
- Strategically manage the property portfolio for the long term best interests of the community.
- Achieve best value in all of our land dealings.
The sale of City of Melbourne property is a significant decision and all of our property is to be retained except where the property meets all of the following principles:
- Does not or will not support, facilitate or contribute to current or future service delivery outcomes as identified in the Council Plan 2021-25.
- Has a net realisable value for another purpose that is significantly greater than the cost of re-establishing the service on another site.
- If sold will facilitate and/or promote investment and positive economic development outcomes.
- Does not contribute economic, environmental or community benefit to the municipality to justify its retention.
- Has no strategic significance to City of Melbourne on a long term basis.
- Is identified in a City of Melbourne strategy, budget, study, policy or planning scheme as being surplus to its requirements or not required to be owned by City of Melbourne.