The Doig Street car park is now fenced off with construction of an aged care facility to commence soon
Car parking in the Cleveland CBD got harder this week with closure of the Waterloo and Doig Street car park (which used to be owned by Redland City Council) as work begins on construction of an aged care facility.
In response to this loss of car parking spaces between Doig Street and Waterloo Street, the Council has produced a New Cleveland Centre Parking Plan which includes a Where You Can Park map.
Also, the Council wants to make it easier for people to scoot around the Cleveland CBD. A proposal to allow bicycles, foot scooters and electric scooters on footpaths in the Cleveland CBD, Capalaba Centre and at Wellington Point is out for public consultation.
Sale of Doig Street car park
Redland City Council says it transferred the 6,724sq m site at 4-10 Doig Street, Cleveland to its property company (Redland Investment Corporation) in 2015, to help revitalise Cleveland’s CBD.
Redland Investment Corporation announced in July 2018 that the site had been sold to Vacenti who would be developing a five storey aged care centre with some ground floor retail space.
The sale price for 4-10 Doig Street was about $5.5 million according to a confidential report to Redland City Council’s meeting on 12 December 2018.
Vacenti to develop aged care facility
The Doig Street aged care centre is being developed by Vacenti who operate facilities at various other locations in south east Queensland including Marebello in Victoria Point and Sylvan Woods in Birkdale.
Development application MCU18/0148 for a five storey aged care centre with ground floor commercial space at 4-10 Doig Street was lodged with Redland City Council in June 2018 and approved under delegation in September 2019.
Redland City Council says the proposed development includes plans for 186 off-street car parks including basement and ground level car parks to service the users of the mixed-use development.
Loss of other Cleveland car parks
A former Council owned car park in Wynyard Street Cleveland was also sold by Redland Investment Corporation in a 2016 deal with L.J. Hooker which was discussed in:
Bad smell left by Council’s RIC land sales
Despite claims in 2016 that this sale of public land would “inject millions into the local economy”, various plans for development have not yet been realised.
Signage on the site currently says: Overflow Parking for Raby Bay Harbour Restaurants.
Redland Investment Corporation’s results
A loss of $228,224 was reported by Redland Investment Corporation for the 2020/21 financial year according to documents published by Redland City Council, recently.
Since it was established secretively in 2014 the Redland Investment Corporation has failed to live up to the Council’s expectations that it would “generate income that will help fund infrastructure and services and minimise rates hikes”.
| Year | Profit/Loss | Employee Benefits |
| 2020/21 | -$228,224 | $1,117,735 |
| 2019/20 | $37,983 | $1,117,667 |
| 2018/19 | -$555,468 | $1,232,540 |
| 2017/18 | $749,688 | $1,288,886 |
| 2016/17 | $954,580 | $1,172,678 |
| 2015/16 | -$607,732 | $773,870 |
| 2014/15 | $1,099,528 | $102,537 |
The profit made by Redland Investment Corporation in its first year of operation was from sale of a block of land in Capalaba for $2,120,000. The Council had transferred this site to Redland Investment Corporation at book value of $820,000 which was well below its market value.
Redland City Council decided in June 2021 (Item 19.1) to constrain the activities of Redland Investment Corporation and develop a transition plan that also considers Council’s equity position in the company.
Redlands2030 – 4 February 2022
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One Comment
There is nothing that screams CBD rejuvenation like building an aged care facility in the heart of the action. Well played Redland City Council another quality decision.