Waimate District Council purchases new building
Waimate District Council has acquired a new building that will assist with Council’s work space requirements following the recent purchase of 4 to 6 Gorge Road, Waimate.
The Waimate District Council’s primary centre of operations and services are delivered from Council’s Local Government Centre, Queen Street. Water, wastewater and stormwater field operations are provided out of Council’s building on Michael Street, with parks and gardens field operations delivered through our facility at Tennant Street/Victoria Park.
The Queen Street Local Government Centre has remained unchanged for the past 40 years. The building has inadequate floor space for the number of staff it accommodates and has a number of issues that require attention including replacing the tiled roof. The need for more floor space became critical in late 2019.
Council’s Long Term Plan 2018-2028 has included a provisional sum of $1,400,000 with $100,000 for scoping and design for the upgrade of the library and refurbishment of the Local Government Centre which will displace a number of staff and require alternative office space while building work is undertaken.
Commercial sites with office space available for lease within the Waimate township are limited, however Council identified a suitable site at the former Vet Clinic premises on Gorge Road which could be easily modified into office space.
After entering into a lease agreement late last year, Council began the fit-out process and initial discussions within the leadership team began into the potential purchase of the Gorge Road site. A proposal was put forward to Council for consideration and approval at the end of last year with the purchase of the site finalised just prior to Christmas 2019.
Chief Executive Stuart Duncan says
“The Gorge Road property is an investment which effectively transfers funds held in low interest-bearing accounts into ‘bricks and mortar’. The growth in value of the investment property would reasonably be expected to outweigh the returns from regular bank deposit investment given the present economic climate and low interest rates. The purchase of the Gorge Road property has been paid for from accumulated reserve funds, predominantly from the subdivision development at Eric Batchelor Place.”
The investment property provides Council with a number of options for present and future use. The property could become a permanent Council location for a specified function of Council and may be considered in conjunction with plans to redevelop the Library and Local Government Centre. As with any investment property, as an appreciating asset it would reasonably be expected that capital gains would be attracted and, if the circumstances were right, further options could include a sale or even the potential to lease the property to a third party for advantageous returns.
The Gorge Road premises will initially be occupied by up to 12 staff from the Waimate District Council from late January 2020.