ONE of Wagga’s most desired patches of real estate has officially sold, in a “win for the city”.
The listing of Charles Sturt University (CSU) South Campus in 2017 marked the end of a 70-year era, with valuers estimating the plot to be sold for close to $10 million.
Saint Mary McKillop College and Signature Care shared in the purchase of the 13.32 hectare plot this month.
The sale is awaiting settlement in March, according to CSU’s executive director of facilities Stephen Butt, but he said the “exhaustive process” was nearing closure.
“There’s still a long way to go with subdivision, zoning, planning and development,” Mr Butt said.
“But we’re pleased its gone to someone with a vision … not someone who is about carving it up.”
He said the biggest win was the certainty for CSU archives and the Riverina Conservatorium of Music, who could remain on-site for five years as part of a sub-lease agreement.
The land has a rich 70-year history, spanning from the 1960s, when the plot was used as a teacher’s college.
The university’s preschool was also on site until it relocated to Estella.
Following a refurbishment, Saint Mary McKillop College leased the empty classrooms, where they have remained for a number of years.
The school’s financial officer Bill Andrews said it now had certainty into the future.
“We always intended to purchase it,” Mr Andrews said. “There were a number of obstacles along the way … we have out own land at last.”
Mr Andrews said it was good for the college to have its own block.
“We will certainly be looking at putting other facilities on there in coming years,” he said. “Now we can plan ahead for future buildings and other things.”
Veteran aged care provider Signature Care also has grand visions for the site, which will result in further investment and jobs for residents across the city, according to its financial officer.
Steve Pollock said great plans were underway.
He said the aged care developers and operators would provide 24-seven nursing and in-home residential care across the plot.
“We’ve committed to spending a lot of money there,” Mr Pollock said. “A lot of money.”
He said the service would be unlike anything regional towns had ever seen.
“We’re looking forward to it,” Mr Pollock said. “It is such an exciting site.”
The Kay Hull Veterinary Teaching Hospital – on a separate land title – will be retained by the university and the regional archives will be relocated to the main campus at Boorooma Street after five years.