Council agrees to asset transfer with University

Published on 03 October 2017

The City of Launceston has endorsed a land transfer for five parcels of land with the University of Tasmania.

The five parcels of land were independently valued at $3.5 million.

In exchange, the University will transfer a parcel of land in Lindsay Street to the City of Launceston, including a new, purpose-built facility for use by the National Automobile Museum of Tasmania.

The total land and buildings costing of this transfer totals $4.7 million — a net benefit to the Council of more than $1.2 million.

Launceston Mayor Albert van Zetten said he was delighted that the Council was able to reach a decision on the asset transfer, which will enable the University of Tasmania to realise its proposed $260 million inner city campus.

"This will be the largest single infrastructure project in the history of Launceston," Mayor van Zetten said.

"This is not just about bringing the students of the future into the city — which has obvious financial benefits — it's also about lifting the profile of Launceston as a university city to an international audience. It's about the thousands of jobs that will be created during the construction phase of the project, and it's about providing new courses and new employment pathways for the students of the future.

"This multi-million dollar investment has the support of all tiers of government — Federal, State and local.

"It has the support of the Launceston Chamber of Commerce and Cityprom; with representatives from those groups voicing their support at today's council meeting.

"They can see the wide-ranging benefits an inner city campus can bring.

"I firmly believe this is the best decision we can make as a council — to invest in the future of our city.

"Obviously there are still things we will need to work through — traffic and parking management being two of those — but those things will flow on from today's decision.

"But there's no doubt this project will bring with it huge social benefits to the community as well.

"The activation of land at the new University of Tasmania for community use is of course paramount in Council's planning for the future and I'm more than confident the University has the right framework in place to make that a reality."