\nCity of Newcastle announced\u00a0last\u00a0September\u00a0it intended\u00a0to sell\u00a0or lease\u00a0the\u00a0vacant\u00a0Frederick Ash Building,\u00a0along with\u00a0the neighbouring properties\u00a0that are\u00a0currently\u00a0home to the\u00a0Blue Door Caf\u00e9\u00a0and\u00a0the\u00a0Clarendon Hotel\u00a0on Hunter Street.
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![\"Newcastle-Ocean-Baths.jpg\"](\"https:\/\/www.newcastle.nsw.gov.au\/getattachment\/Council\/News\/Latest-News\/Newcastle-Ocean-Baths-restoration-to-receive-$9-5\/Newcastle-Ocean-Baths.jpg.aspx\" "\\"Newcastle-Ocean-Baths.jpg\\"")
\nIf\u00a0the sale\u00a0is\u00a0approved\u00a0by the Council, the\u00a0$9.5 million\u00a0proceeds\u00a0will be placed into a reserve\u00a0to\u00a0part\u00a0fund\u00a0the\u00a0much needed\u00a0restoration\u00a0of\u00a0the\u00a0Newcastle\u00a0Ocean Baths.
\nCity of Newcastle Deputy Lord Mayor Declan Clausen said that the City\u2019s asset committee had\u00a0endorsed the sale, contingent on allocating the proceeds from the sale of three Council owned buildings to the Newcastle Ocean Baths.
\n\u201cThe addition of $9.5 million to the restoration of Newcastle Ocean Baths allays any community concerns that the economic impact of COVID-19 would delay work proceeding to restore such an important site to the broader Newcastle community,\u201d the Deputy Lord Mayor\u00a0said.
\n\u201cThe engagement process\u00a0to date\u00a0involving the\u00a0restoration of the\u00a0Newcastle Ocean Baths has overwhelmingly shown that the people of Newcastle see\u00a0the\u00a0return to its former glory\u00a0as an urgent\u00a0project.
\n\u201cWhile the impact of restrictions to limit the spread of\u00a0COVID-19\u00a0have\u00a0significantly\u00a0impacted on Council\u2019s\u00a0income this year,\u00a0with\u00a0the sale of these properties\u00a0there is money in the bank to get the restoration of the Baths underway.\u2019\u2019
\nCity of Newcastle CEO Jeremy Bath said the sale cemented the Civic Precinct\u2019s attractiveness as a tourism and hospitality hub.
\n\u201cThe sale completes City of Newcastle\u2019s\u00a0relocation from the former Civic\u00a0Precinct\u00a0to the\u00a0new CBD in Newcastle West,\u201d Mr Bath said.
\n\u201cShould the Council support the sale, then Blue Door and the Clarendon Hotel will continue as\u00a0is, and the Frederick Ash Building\u00a0will\u00a0likely to be converted to\u00a0tourist\u00a0accommodation.
\n\u201cThis decision allows for an adaptive reuse of the historic Frederick Ash Building, and further activation in the Civic Precinct. Importantly, its heritage is protected through the sale, given its listing on both local and state heritage registers.
\n\u201cThe future of the\u00a0Civic\u00a0Precinct is very exciting.\u00a0The Roundhouse building is\u00a0currently\u00a0being converted to the city\u2019s first\u00a0five-star\u00a0hotel\u00a0in what is a $30 million project.\u00a0Right\u00a0next door\u00a0workers are putting the final touches to a\u00a0stunning\u00a0$25 million restoration of the City Hall.
\n\u201cAcross the road, City of Newcastle is days away from being handed the keys to the new Visitor Information Centre.\u00a0The former Civic Station sits in front of the recently completed Museum Park on what is the former heavy rail line.
\n\u201cJust a few blocks to the east, work is progressing quickly on the\u00a0$700 million\u00a0East\u00a0End\u00a0development, which will see a stunning overhaul of the old Hunter Street Mall\u00a0to include boutique shops and stunning apartments with harbour views.\u00a0This includes the former David Jones building\u00a0which\u00a0is now\u00a0also\u00a0being converted to a five-star hotel.\u201d
\nA business case for the sale of the buildings will help inform Councillors\u2019 decision whether to sell or retain the three properties. The business case\u00a0will show that the sale price is in line with a\u00a0market\u00a0valuation of the three properties, as well exceeds the NPV to retain the properties by almost $4.5 million.
\nThe decision to proceed with the sale will go before Council on Tuesday 26 May.<\/p>\n","protected":false},"excerpt":{"rendered":"