Page 690 - Week 03 - Tuesday, 12 April 1994

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As a parallel action with the ACTPA, the Government will need to relocate remaining Lessees, demolish existing buildings (including removal of asbestos) and structures, determine the extent of soil contamination and undertake remedial work as necessary.

To develop the site along the lines of Queenslands "South Bank", which cost $100 million and included recreation beaches, canals and major performance venues, it may be necessary to relocate major services in the area, but this would be achieved at a significantly lower cost.

(5) To enable the sale of the site to proceed the Government would need to undertake:-

. marketing studies

possibility of arranging servicing of some of the sites

preparation of sale documents

estimated costs for this work are in the order of $2 million.

(6) No formal comparative analysis for "commercial sale" has been undertaken

between Brisbanes South Bank and the Kingston Foreshore area.

Significant differences between the sites are:

. with South Bank staging of the Expo funds were made available to the

Expo Authority for the development of the area. Because of the

significance of Expo, funds were off-set by subsequent ticket sales,

concession sales, merchandising and trademark licensing. This is an

unlikely parallel with the Kingston site.

The difference in population, with Brisbane being well over 1 million and South East Queensland being a major destination for overseas and interstate tourists. Canberra has a population of nearly 300,000 with tourism potential but not in the order of South East Queensland. Planned land uses must reflect the projected population and visitor numbers which would support the facilities and ensure the viability of the development.

Future development of Kingston Foreshores would have to be uniquely tailored for Canberra.

Unlike South Bank the Kingston Foreshores site has major ACTEW service constraints.

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