Auction - 128 and 128A George Street

Published on Thursday, 28 July 2022 at 2:48:18 PM

Auction - 128 and 128A George Street, East Fremantle     Auction - 128 and 128A George Street, East Fremantle

On Saturday, 13 August at 12noon, 128 and 128A George Street, both green title lots currently owned by the Town of East Fremantle, will be going to Auction as a package.

Auction Details - 128 and 128A George Street, East Fremantle

Background Information
Council, at its meeting held on 15 March 2022 resolved:

  • subject to a public auction process that achieves at least market value, Council disposes of 128 and 128A George Street, East Fremantle, with the sale proceeds to be split 2/3 East Fremantle Oval Redevelopment Reserve and 1/3 to the Streetscape Improvement Reserve Fund (to address streetscape and parking in Plympton and surrounds). 
  • should Council not receive a satisfactory additional contribution from the State Government for the East Fremantle Oval redevelopment project, the sale of the property is not to proceed at the current time. 

On 7 April 2022, the State Government committed an additional $5 million towards the East Fremantle Oval Precinct Redevelopment, resulting in a total commitment from the State Government of $25 million.

With this 'satisfactory additional contribution from the State Government', the Town went to market for a Request for Quotation for auction services for the sale of 128 and 128A George Street. Submissions from numerous real estate agencies were received and on 21 June 2022, Mint Real Estate was appointed.

The Sale Proceeds - An Explanation   
What does this mean for the Town?

  • 2/3 of the sale proceeds will be directed to the East Fremantle Oval Redevelopment Reserve - this funding will be applied to the capital costs of the construction as included in the Town's adopted 2022-2023 Budget.   
  • 1/3 of the sale proceeds to the Streetscape Improvement Reserve Fund - in simple terms, funds will be directed towards improving streetscapes, landscaping and parking around Plympton and surrounds. Council recognises the parking issues in Plympton now and in the immediate future and is attempting to address this.  

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